If you are reading this, it is most likely that you have recently stopped at the window of the local real estate agents for a quick look/dream, and also love skimming through the Property Press. True?
You may already have a property and a home loan, and think to yourself…“This is us, we can’t move, we are stuck here for a while!” Or you may be looking to buy your first home and think/or are told “You just have to keep saving!”
Either way this “One Day” type thinking with no action is likely to be holding you back!
Existing Home Owners:
If you have dreams of moving up the property ladder or venturing into rental properties, you may be in a better position than you think. You may, or may not realise that it is often possible to use equity within your existing property to help purchase another one, or that your home loan can be transportable in some cases. Even without moving/buying it is highly likely you can restructure your existing home loan to enable you to pay it off faster…without increasing payments! If you do find yourself feeling like you are always watching and never making a move it could be time to talk with someone in the know and learn more about your options.
First Home Buyers:
Feel like the goal posts are always being moved? And people always have more money than you! It is true that you do need savings (or funds) to buy a first home, but many overlook the speed at which prices have increased over time and to have the mind set of “just keep saving” can be destructive when looking long term! In many circumstances we see first home buyers miss opportunities to get into the market for no other reason than their expectations are set too high. Go out and experience the real market! Get a taste…be a spectator at a few auctions, talk to agents feel the atmosphere and learn what the actual sale prices are of properties you consider fit your wish list in your potential price range. If you then want to get serious, we suggest that you talk with experts to find out what options are available to you that may get you in the game faster. We also think that consideration needs to be given to your wish list. Does your first home really need to tick all of the boxes? Create your property wish list and refine it with “must haves” or “nice to haves” and then compromise! Your first property doesn’t need to be your last!
Action paralysis generally only happens when people do not know their options…What are you waiting for? Start your learning and stop watching!
All information provided within this editorial is not to be taken as financial advice specific to any individual or entity. When engaging a LifeFirst (New Zealand) Ltd (LifeFirst) adviser a disclosure statement will be provided before you receive peronalised advice/recommendations. You can request a disclosure statement anytime free of charge.
Life FirstDec 18, 2018
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