“Flipping” might be the new word on the block but Australians have long been part of the reno revolution. Some are looking for fast returns (the flip), while others are upgrading after being in a home for several years. Whichever your strategy, chances are the goal remains the same: to renovate for profit. Here are Haven’s tips to ramp up your returns.
Most mortgages are spread out over 25 to 30 years, but it doesn’t have to be that way. With a few simple strategies you can take years and thousands off your loan, and it’s much easier than you might think.
One in two Australian home buyers1 now borrow via a broker. A dip in sentiment towards traditional banks, tighter lending criteria for investors and better-educated consumers have all helped boost mortgage brokers’ popularity over the past decade. There are, indeed, a raft of reasons to turn to a broker for your next home loan. Here are eight to get you started.
June 30 signals the end of another financial year. There’s still a little time to get this year’s finances in order or take the opportunity to make some resolutions about how you manage your money from July 1.
Switching home loans could help pay down your mortgage sooner, providing you are refinancing for the right reasons and understand what’s involved. Here’s our guide to refinancing to help you make the right move when the time comes.
With interest rates at an historical low, now could be the time to make the most of your disposable income and pay off your mortgage sooner with an offset savings account.
Whether you think it’s a necessary evil, believe it makes the world go round or wish it grew on trees — money is an essential part of life. Take our quiz to test how much you really know about your money and how it can work for you.
Consider this: 30 years ago it cost about 3.5 times the average annual salary to buy an average priced Australian home — today, it costs around 7.5 times our yearly earnings 1. With the average new home loan nudging $444,0002, it’s more important than ever to look at strategies to shrink your mortgage and work towards greater financial freedom sooner.
The good news is interest rates are at record lows. The bad news is the average mortgage size in most Australian capitals has hit an all-time high. The challenge for many borrowers who are used to low rates could be keeping up with payments when rates inevitably rise. Those who want to get ahead will be taking steps now to make the most of low rates so they have a buffer down the track. But if you are already feeling weighed down by debt, it may be time to lighten the load.
