Buying a house
If you are thinking of purchasing your own house, then that is great news. Owning your own home whether for the first time or not can be an excellent investment opportunity and you can often find that you can get a great deal if you look around well and place your offer strategically. Of course your should always ensure that you follow the correct procedures when buying a home, for example if you live in Melbourne, you should ensure that your new home will adhere to the building inspections Melbourne regulations require you to follow. Don’t worry about that though, because Safe and Sound Property Inspections can help you with your building inspections. With the current state of economies worldwide, now really is the time to buy.
Why buy a house now?
Buying a house in the current housing market is a good idea. There are five main reasons why this is.
1.The economy is struggling. Why is that good? Well, this means that house prices are falling because there is less demand for them as buyers can’t afford them. With the reduction in seller’s asking prices, you will find that you will need a lower mortgage, your repayments will be low and you will have the potential to make a profit on the house as the market recovers.
2. There are many house repossessions to be bought. This is great news because it means that you can find very cheap property that the housing agencies need to sell quickly to get some money back. As long as you follow your local areas laws, such as choosing building inspections Ivanhoe councils require you to take, you should find that you can get a great bargain.
3. Interest rates are falling. You’ll be paying less interest on your repayments, so this will mean you will be more able to afford to buy and keep up with your repayments.
4. More people are looking to rent. With rental property being the only option for those who have unstable jobs and fewer people being able to secure a mortgage, the rental market is becoming very popular whilst the buying market is taking a backseat. You should grab the chance to buy a home now whilst you can.
5. With more Australians moving away to find work, there are more and more homes that are becoming available on the market. You should enquire at your local agent to find out just how far your budget will be able to stretch to suit your needs.