Skadadmin, Author at Real Estate Agent in Thomastown

Boom or bubble: What the next 24 months will look like for the Australian property market

What do you think the property markets in Australia will look like in 2022 and beyond? This is a popular question now that the housing market has shifted from a strong and broad-based upswing across Australia to one that can best be defined as multi-speed.

At one end of the range, Australia’s two major cities, Sydney and Melbourne, are experiencing flat to declining home values, while Brisbane and Adelaide are experiencing quarterly growth of more than 20% on an annualised basis. There’s also a demand in property for sale in Craigieburn Victoria and other cities in Australia; so, the real estate market looks promising in the coming months. The property cycle has progressed to the next stage, which has been accelerated by an earlier and more aggressive interest rate tightening cycle.

Experts expressed their forecasts for where property prices in Australia would be by the end of 2022 in March. On average, panellists predicted a 12% price increase across the country in the next 24 months.

Nobody expects prices to rise in a straight line. There will be ups and downs, but this gives you a reasonable idea of where we might finish up. Finally, certain cities may have a bigger increase while others may see a lower increase.


There has been some pretty dramatic rise in the house prices as the economists shows. In cities such as Sydney, there has been an increase of upto 12% which add $120k to the value of the average house. Australian Bureau of Statistics showed in its latest report that median Aussie income is about $48,360. So, homeowners in Harbour City can earn 24% more than the average income, just by living in their homes.


Apartments, on the other hand, may not fare as well. While unit prices have remained stable for the time being, the closure of international borders to students and the ongoing use of online courses have led to lower rental income for homeowners across the country. As a result, apartments are seen as a high-risk investment.

For example, the gap between wage and house price increases continues to widen. However, Australia’s national house price to income ratio is still moderate on a worldwide scale, placing 27th out of 34 nations according to Statista, far below the United States, Canada, Germany, and even Ireland. Over the following 24 months, economists estimate a 12% increase in prices. This indicates that the two windows of opportunity for first-time home buyers may have closed. Now, more than ever, credit is more affordable, so it might be a good time to start looking into it. Markets can go up as well as down, so keep that in mind. Above all, buy where you want to live, not where you think property prices will rise – though maybe be a little more careful when it comes to apartments.

First home buyers set to decline in 2022

First-time buyers started the year off on a high note, with a record-breaking number of first-time buyer loans, but that has dwindled month after month. According to ABS lending data, the number of new loans taken out by first home purchasers has decreased by 11% in a year. However, the amount borrowed by them has increased by 1%. (because house prices are going up). The value of investor mortgages increased by 83%.

High density living more affordable 

As the difference between home and unit values widens to roughly 38%, high-density living will become more enticing in 2022. As demand becomes more constrained due to affordability concerns, we may witness a shift in demand to the unit sector in the coming year.

Real Estate

Things to know before buy a new home

Whether this is your maiden chance buying a home or you’ve done it before, the real estate market can be difficult to navigate even for the most seasoned of us. Here are the top things you should know before you start playing. If you are looking for the houses for sale Thomastown, keep the following points in mind – 

The deposit

First and foremost, the more you save for a deposit, the less you will need to borrow from the bank, allowing you more room to cover any additional expenditures associated with home ownership. The deposit is a percentage of the property’s purchase price that represents your commitment to the property, thereby giving you partial ownership. So, before you go for property for sale in Craigieburn, be careful about your capacity of deposit.

Deposits can take years to accumulate, so understanding this phrase early in the buying process is critical. Typically, a five to twenty percent deposit is required; however, this can vary depending on your income, budget, and whether or not you have a guarantor, in which case a lower deposit may be required.

Lender’s Mortgage Insurance (LMI)

If you don’t have a 20% down payment, you may be compelled to pay for Lenders Mortgage Insurance, which protects the lender in the event you default on your mortgage payments. It’s crucial to understand that LMI is intended to protect the mortgage lender, whereas mortgage protection insurance is intended to protect you, the borrower.

The guarantor

When applying for a house loan, a guarantor can provide additional security. A guarantor is usually a third party, such as a parent or a family member. If you don’t have a large deposit, a guarantor can help by providing additional security – often, the guarantor’s existing home equity would serve as this security.

A guarantee is not required to make any loan repayments, but if the borrower fails to do so, the lender will turn to the guarantor to make the payments.

The silent costs matter

  • Council rates
  • Stamp duty
  • Loan fees
  • Additional insurances
  • Conveyancing
  • Building and pest inspections

The above points are vital to understand before you finalise the payment. Overlooking the costs can be really difficult for you to manage later.

Choosing a home and suburb

It all boils down to your long-term housing goals when deciding where to buy and what to buy. If you’re looking for an investment property, your criteria will differ from those who are looking for a place to call home.

If you’re looking for a long-term property as your first buy, the best suburb for you will depend on your own preferences and your budget. Do you intend to start a family in this house? Consider purchasing a home near schools, public transportation, parks, and other amenities. How far will you travel to get to work? These are the kinds of questions you should ask yourself before taking out a mortgage. The suburb you choose is determined by your lifestyle and long-term aspirations.

Before buying a home, you should research the median house price in the region, as well as what other houses are selling for, if there has been growth or drop, and how many listings are available for sale.

Real Estate

Hidden cost for open home

Before you start jumping onto the property ladder, there are a number of considerations that cannot be overlooked. As a first time home owner, it is always good to have a thorough discussion with the experts before you go for the houses for sale Thomastown. The average home price of the area or the type of loan you are planning to take, are all vital financial points that need to be discussed with the professionals of real estate for sale Craigieburn. 

Let’s have a look at the most common hidden costs associated with a home purchase – 

Conveyancing & legal fees

Conveyancing and legal fees are the costs of hiring a conveyancer or another professional to complete the necessary legal documentation when purchasing a home.  There are usually three stages: contract preparation, contract exchange, and contract completion.

There is generally the option of selecting a fixed cost because conveyancing and legal fees can be relatively uniform — because each house transaction follows a similar process. Conveyancing and legal fees vary depending on the complexity of the transaction and who performs the job, such as a conveyancing firm with a team of conveyancing solicitors or a private lawyer or solicitor.

Stamp duty

Stamp duty is a tax that is levied on specific transactions and papers. In this example, it refers to the tax you must pay when buying a home. The amount of stamp duty you pay is determined by the property’s worth, whether you are an owner occupier or an investment, and the state where you purchase it. Many states also provide incentives to first-time home buyers who are owners. You will pay more if the house is more expensive.

Pest & building inspections 

When you hire professionals to assess your home for concerns, you must pay pest and building inspection fees. It is crucial to establish whether a property has any severe difficulties, such as structural or foundation or pest infestations. The studies offered are detailed and can help you determine your pricing point while also assuring you that you will not be surprised later. Hire a licenced inspector that is familiar with the properties in your area and has experience with the type of property you have.

Building Insurance

It makes sense to have a thorough understanding of teh budget and expense before you invest your life savings in real estate. While your lender will need you to have building insurance, you should also have a look at the other insurance plans. Mortgage protection insurance, for example, can protect you against the mortgage payments if you become very ill. If you are unable to work due to an accident, serious trauma, or illness, income protection insurance can help you meet your bills.

Mortgage registration & transfer fees

The charges of registering a mortgage and transferring property ownership are known as mortgage registration and transfer fees. The prices for each differ by state. Some have a flat rate, while others have a sliding scale. The state government determines the transfer charge, which covers the transfer of property title from one party to another.


The expense of finally moving in is an additional cost that many people overlook when purchasing a home. The cost of relocating is determined by a number of factors, including where you are moving from and to, how much you need to move, and so on. Many removalists bill by the hour, while interstate removalists bill by cubic metres or number of boxes.


Pros and cons of investing in house and land packages

When it comes to property investment, there are numerous possibilities as the real estate agents Thomastown explains. A house and land package could be an appealing investment option. If you are looking for houses for sale Thomastown, you can also consider looking for the land packages because it comes with a number of benefits. This gives you a cost-effective and handy option that eliminates a lot of the stress that comes with home construction. Money and time are saved by bringing together a number of the steps involved when you are investing in Real estate Thomastown packages. This is why investor-friendly house and land combinations have grown so popular. However, like with anything in life, there are some drawbacks to consider before deciding whether this is the correct investment strategy for you.

Benefits Of House And Land Packages

Simplifies The Process

The most significant benefit of buying house and land bundles for investors is that it will make the process of creating a new bespoke home much easier. This is because you don’t have to seek for a plot of land first, then select the suitable contractor. Instead, you can check both of these boxes at the same time, and you’ll have someone to talk to throughout the procedure. It’s worth noting that you’ll still have two contracts: a construction contract and a land contract.

Cost Savings

By purchasing a house and land bundle, you can save a lot of money. You only have to pay stamp duty on the land portion of the acquisition if work on your new home hasn’t started yet. Tenants prefer modern and energy-efficient homes as an investment because they cut their living costs significantly. You may potentially be able to deduct the entire cost of your investment.

Experienced Builders

Another great advantage of house and land bundles is that the builder will already be familiar with the region of land you will be purchasing. This means they’ll be able to put their expertise to good use when it comes to putting up the greatest design plans for the piece of property you’re buying. If your property is on a slope or has an odd shape, a custom house builder can create designs that can accommodate these features.


There is no unwanted servicing with new property, at least for the first several years. After you purchase the property, you won’t have to worry about anything breaking apart. When building a home, you can typically customise some features to meet your personal demands or to maximise the return on your investment.

Drawbacks Of House And Land Packages

Poor Location

To begin with, you may discover that you are in a vulnerable area. This is due to the fact that the vast majority of these house and land packages are located on the fringes of cities. This is in locations where land is plentiful. Infrastructure is often lacking in these areas, and economic factors are limited. This means that capital growth may be harder to achieve by. This isn’t always the case, though. However, it emphasises the importance of selecting these items with caution and carefully considering the area.


Many individuals dislike the element of risk that comes with purchasing a house and land bundle. You have no way of knowing whether the neighbouring residences and facilities, as well as the quality of the finishing, would satisfy you. In terms of the final bank valuation, there is also some uncertainty. Will it stand up to scrutiny? You must also examine the worth of the land. When looking for a property to invest in, it makes sense to go for one with a large proportion of land value.


What is the best thing to invest in Australia? home or land?

Are you making your first real estate investment? Early decisions will have a significant impact on your long-term performance as a real estate investor. There are numerous options available. How are you going to fund your investment? Where will you put your money? How would you attract tenants to your property? Who will be in charge of maintenance and repairs? There can be many such questions you might have in your mind and the experts of real estate Thomastown can help you find the answers. However, before you get ahead of yourself, consider the following question: 

What is the ideal initial investment: land or house?

Planning to invest in land

In comparison to other investments, land does not require much of your time. It could be a long-term passive investment for you, explains the professionals of real estate agents in Craigieburn. Furthermore, you may be able to purchase smaller plots of land with just cash. Property taxes, insurance, and upkeep charges are not prohibitively expensive. Negative gearing benefits are also available to you. Because there is less competition, you can obtain a better deal. People on a tight budget can buy today and construct later. This assures that they will not be priced out of the market in the future. Land prices can rise quickly, even if their value increases slowly. Some people purchase land with the expectation that the government would rezone it shortly. The land value rises after it is rezoned, and they can sell it to a developer. You have the option of doing whatever you want with the land. You can either sell it to a contractor or create it yourself, depending on the situation.

Land can be a risky purchase if you don’t plan to build on it. City councils modify zoning from time to time, and the changes may have a favourable or negative impact on your property. If you’re going to buy land as your first investment, attempt to buy land in a capital city, which will give you more security over time. Also, from the start, have a specific plan for the property and be aware of the costs involved with your investment.

Planning to buy a house

You have a lot more control over prices when you buy a single-family home, but you also have a lot more responsibility. You may not be required to pay dues to a homeowners’ organisation, but if the roof needs to be replaced, you will be responsible for the cost. Whether you use a property manager or not, you are responsible for anything that happens to the estate or the land. One advantage of owning a home is that you may factor in the value of the land as well. Land rises in value over time, so even if the house itself is no longer in demand, you may be able to sell the land to a builder many years down the road.

Each option has substantial advantages and disadvantages. Your abilities, hobbies, and travel ability will all influence your decision. Buying a house may be the ideal option for you if you enjoy renovating. A unit may be more ideal if you desire to be a hands-off owner and buy in one of the capital cities. If you want to invest in real estate but don’t have the cash, buying land may be the best option.

Real Estate

How to prepare for an open house inspection?

Once you have made the final decision of putting your property on the market, you have to be ready for an open house inspection. The experts of Real estate agents thomastown can help you understand the market value and how to arrange for the inspection. This is because you need to be careful about what your potential buyers are thinking when they visit your property for the first time. Here are some expert tips from real estate thomastown that can help you make an indelible first impression –

Choosing Inspection Times

The greatest time for an open house for inspection is usually Saturday late mornings and afternoons. This is the best time for house searchers because its the weekend, so they will not be working, and it is late enough in the day that they will not be sleeping in. It’s also a great idea to have an additional open house during the week for possible buyers who want to see the house when it’s not so crowded. Also, if feasible, look up the weather forecast because it is better to have the house open for inspections on a bright morning because more visitors will be out and about than on a rainy day.

Marketing Materials

Making brochures to give consumers concrete material to look at and hold on to them after the inspection is completed is a terrific idea. Include interesting photos that highlight the property’s best qualities, as well as contact information. Prospective buyers will benefit from this in their house-hunting experience because it serves as a reminder of your property, ensuring that it is not forgotten among the other listings they have seen.

Keeping it clean

Make sure that the property they come in for inspection is clean. And by clean, it means sparkling clean. The simple tasks of putting away the dirty laundry or cleaning the dishes much before to keep the kitchen dry, or cleaning the dog house can help to make the house look more appealing for the first time visitors. Also, make sure to remove the unnecessary clutters around the house which makes the space appear smaller. You can even try to rearrange the furniture if you want to make the space look bigger and better. One of the best ways to make your room look bigger than actual is to add a mirror.


Giving your space a fresh coat of paint is a simple and inexpensive method to make your home more appealing. It may have been a dreadful feature wall in an out-of-style colour or some terrible wallpaper. Whatever it is, a fresh coat of paint can work wonders since it creates a blank canvas for potential buyers to use their imaginations in terms of how they’d like to design the residence and leave their mark.


Keep all your windows open before an open house to get rid of any residual odours like mould or damp. Avoid using artificial air fresheners or scented candles to cover these odours, since they may be overbearing and unpleasant. Fresh flowers, on the other hand, have a natural, fresh scent. As long as it doesn’t burn, the smell of roasting coffee can be a warm and welcoming one.


Buyers choose properties that are open and bright since no one wants to live in the dark. As a result, make sure all blinds and curtains are open to let in natural light before the inspection. Turn on the lights in every room to create a welcoming, homey feeling.


If you have dogs, cats or other pets, it is in your best interest to keep them away while your visitors are there for an inspection. 

Open house inspection means there will be strangers walking in to see your property; so, make sure that you do not have any valuables left unattended in your home. 

Real Estate

Where to start when you want to sell your house?

If you’ve never sold a home before, it’s crucial to know how the process works so you can follow the steps in the right order. You can get help from the real estate agents Craigieburn.

There are several considerations to be made, including when to sell, which strategy is ideal for your property, which real estate agent to choose to represent you, and how to best prepare your home for sale.

Your specific circumstances, particularly whether you’ve already acquired your future home, will determine how quickly you’ll need to move. For instance, if you have already booked any of the Property for sale in Craigieburn, you need to get your present house sold faster and the steps will be different. But, if you are selling your house for sale in thomastown, here are the following points you need to keep in mind

Select an agent

Choosing a property manager is one of the most important stages in ensuring that your house sells quickly and for a good price. An agent is responsible for all of the tough components of the sale, such as listing and advertising the property, drafting the contract, and working with legal issues, all of which are necessary for a successful transaction.

When selecting an agent, be cautious. You want someone who is professional, knows what they’re doing, and will listen to your needs rather than imposing their own. It’s critical to hire a well-reviewed agent who understands the local market, and it’s also crucial to find out what % of the sales price they charge in commission.

What price is your house?

One of the most crucial things to be clear about when selling a home is how much you believe the property is worth. A little market research can be well worth the hassle in this case. There are many websites that provide market reports. A formal assessment from a competent valuer is also possible, but it will cost you money.

Alternatively, you could attend auctions of comparable houses in your neighbourhood to get a sense of the market. Also, speak with local agents. They’ll be keeping their ear to the ground and should be able to tell you how much they think your house can sell for.

Which method of sale is right for your property?

There are three basic techniques of sale, each with minor variants – auction, private treaty, and tender.

An auction is a popular way for buying and selling real estate. Because of the competition among potential purchasers and the sense of urgency that is created, auctions can occasionally result in higher property prices. You set an asking price for your home and then receive offers from buyers under a private treaty. A private sale may be more appealing to a buyer, but because it lacks the same sense of urgency as an auction or set date sale, it usually takes longer.

Market your property

It’s critical to market your home because it’s the only way to get it in front of potential buyers. A strong marketing strategy doesn’t have to be expensive, but it does take some investment to secure the greatest potential outcomes. You may advertise your property through a variety of outlets, and finding the correct mix is crucial. It’s also worth noting that 86% of individuals use the internet to search for a home to buy, making online advertising incredibly vital.

Exchange and settlement

When you agree to a deal, you can work out conditions and timelines that work for both you and the buyer. Your home is formally sold after a settlement period, which is usually six weeks. Despite the fact that this can be a difficult period, the procedure will hopefully result in a successful sale, allowing you to move on to the next phase of your life.

Real Estate

Heating and Cooling options for your home ?

The weather conditions can vary considerably in Australia, and therefore when investing in any form of property, you need to understand the impact of the variation in detail. The real estate agents Craigieburn have the expert approach on what to look out for in a house you’re planning to buy. Having the right heating and cooling options is the most important factor you should be considering. Even when you are property for sale in Craigieburn, you will need a proper guide who can help you get the idea on the best ways to keep your home hot and cool in the necessary weather.

Even in locations where temperatures rarely drop below freezing, home heating is an important issue during the winter months. Heating costs can easily take nearly half of a typical household’s energy budget, making energy efficiency a priority for those looking to cut down on home comfort costs. If you need a new home heating system, you have numerous alternatives for getting a high-efficiency, low-cost system that will keep your home warm and pleasant for many years.

Cooling systems

The scorching heat of an Australian summer can be excruciating. Here are  some of the common cooling solutions accessible for households –

Split-system air-conditioner

Split-system air conditioners can be a cost-effective and self-cleaning way to cool or heat your home. A split-system air conditioner, as the name implies, has one unit within the house that distributes hot or cold air and another unit outside that regulates the temperature.

Window/wall air-conditioner

Window or wall air conditioners are practical because they don’t take up any floor space and can quickly chill larger rooms.

Evaporative coolers

Water is used in evaporative coolers to cool a room while also purifying the air. When the water evaporates, it absorbs the heat and lowers the room’s temperature.


The need and popularity of portable fans cannot be denied even during the age of air conditioners. Whether you are looking for wall-mounted fans or ceiling fans, these are always there to help you get rid of the summer.

Heating systems

Heating rituals are a significant component of your day-to-day activities throughout the winter months. While having efficient heating equipment is a long-term investment, it must be accompanied by excellent practices in order to extend its life and performance in your home.

Reverse-cycle heater

 A reverse-cycle heater that also serves as an air conditioner is a cost-effective solution. You may be familiar with it by another name: the split system. It heats air in the outdoor area of the unit before releasing it within heating mode.

Wall-mounted heater

A wall-mounted heating unit, whether it’s a convection or radiant heater, can conserve room. It’s a terrific alternative for even the smallest rooms in your house because it doesn’t take up any floor space.

Gas heater

Because of their low operating expenses, gas heaters can be a cost-effective option to heat your home. Always keep a safe distance between gas heaters and other things in your home by turning them off when you leave the room and turning them off when you leave the room.

Hydronic radiant systems

These are a more sophisticated option and can recirculate the liquid through the radiator panels. Understandably, the installation and the maintenance cost is higher for these machines however, the regular running cost is lesser as they can work by electric or solar pumps.

A traditional room heating is possible when you have an open fireplace. However, about 90% of the heat is lost through the chimney. In such cases, the slow combustion wood heaters are a more preferred option.

Blog Real Estate

How do I get a financial plan to buy a house?

Purchasing a home is a major life decision as well as a considerable financial commitment. Because most home loan terms are 25 to 30 years long, it’s important to make sure you’re financially prepared before purchasing a property. No matter how exquisite properties for sale Mernda are available, you need to have a comprehensive study of your finances before getting into the deal.

While rising housing prices have made homeownership an uphill battle for many, research suggests that Australians still have high ambitions of owning a home. The number of Craigieburn homes for sale is one of the proofs that there are many who wants to own a property. That said, getting your foot on the property ladder is one of the most concerning tasks and involves much forethought and effort to get the greatest bargain available

How do I buy my first home?

Purchasing your first house can be more difficult than it appears on the surface.

While creating a clear, practical budget to help you prepare for a down payment is critical, the process of purchasing a home also involves more tiny print than you may imagine. Stamp duty, lender’s mortgage insurance, and any legal or conveyancing expenses may also need to be factored into your budget, depending on the state or territory you live in.

The following are the common points you need to follow in the process of buying your new home –

  • By creating and sticking to a budget, you can save for your deposit.
  • Calculating the amount of money you can borrow
  • Considering whether your house repayments will be more or less than your weekly rent
  • You should be aware of any additional upfront charges you may incur.
  • Finding the best house loan for your specific financial situation
  • Getting ready for an auction or a private sale

Here are the steps you must follow to keep your financial plan to buy a house –

Determine your budget

Working out your finances is the first and most crucial thing you must do before ever considering purchasing a home. This phase requires some reflection; you must examine yourself and your money in order to identify what you want to do in the future and how much you can manage to return. Establishing a detailed view of your revenue and expenditure is the most critical aspect of planning.

Shop around for deals in the market

If you’re self-employed, you should always research the market before signing anything. Advertisements on TV, radio, or newspapers are excellent resources for learning about current lending offers. Make an effort to contact lenders directly about available discounts. The more you know about the current home-loan market, whether it’s a cheaper interest rate, no establishment fees, frequent flyer miles, or other value-adds, the better your negotiating abilities will be when it comes to asking your lender for more product features or a lower interest rate.

Know how much you can borrow

This number varies per lender, and many include online calculators to help you figure out how much you can borrow. Your mortgage provides a variety of simple-to-use interactive calculators and tools to assist you in modelling any complex mortgage or investment scenario.

Choose a home loan

The next step is to choose a house loan that is suited for you. Borrowers looking for a competitive home loan should educate themselves on the various options available. Borrowers should also be familiar with the many sorts of interest rates available on these loans, as well as the product features that can assist them in their borrowing journey.

Consider your present and future lifestyle needs

Whether you are up for a promotion, planning to have children, or switching jobs –  there are many factors that you need to consider before investing.


How do I go about buying a house for the first time?

When you see the rental properties Thomastown, you might get very excited initially. However, as a first time house owner, there are a couple of advices to keep in mind. Concepts such as down payments, credit scores, mortgage rates , property taxes,  are some of the serious calculable factors that you cannot overlook. As much as you are interested in investing in Properties for sale craigieburn, it requires a thorough understanding of the matter.

You can scour the internet to get as much information as possible but for real estate investment, it is better to get professionals’ help. Here is a guide that will help you go about when planning to buy a house for the first time –

Start gathering a down payment

One of the most crucial tasks in purchasing your first home? Making a financial plan. Purchasing a new house (especially for the first time) necessitates the use of a mortgage, in which a lender advances funds to you and you repay it over time. You will, however, require a down payment in order to obtain a mortgage. So, how much money do you require? 

To avoid additional fees, a down payment on a mortgage should be at least 20% of the home’s price, but if you don’t have that much money, don’t fret. For certain types of mortgages, the down payment might be as little as ten percent, five percent, or even zero percent.

Check your credit score

It is a must to have a decent credit score when you are applying for a loan. The lender will then use this information to determine whether or not to give you cash, as well as the amount and interest rate. If a lender notices missed payments on your credit cards or other defects on your credit record, it may reduce your chances of getting a low-interest loan, or perhaps abstract from getting any loan at all.

Get pre-approved for a mortgage

Getting a house loan pre-approval from a provider is another important step. This is where you meet with a loan officer, ideally several at different mortgage firms. Each mortgage lender will look into your financial history, including your debt-to-income ratio and assets, to evaluate whether or not to give you money and what size monthly payment you can manage. This will assist you in locating homes within your budget range. That’s a good thing, because a purchase price that’s out of your budget can make you worry about your mortgage payment and put you at risk of defaulting on your loan. However, this is not similar to that of pre-qualification.

Find a real estate agent

Do you want a dependable home-buying adviser at your side? Most first-time buyers will want a good real estate agent—specifically, a buyer’s agent—to assist them in finding the perfect homes, negotiating a good real estate bargain, and explaining all of the complexities of home buying along the route. What’s the best part? The services of the agent are provided free of charge to first-time property buyers (because the seller pays the sales commission).


How can I buy a house with a low income in Australia?

Having a home of your own is definitely something to treasure for generations. Unfortunately, it is not possible for everyone to afford their dream home but that should not stop them from not having any property of their own. Understandably, it is a challenging task for families with lower-than-average income. But did you know there are many loan options available that you can learn from the real estate agents Craigieburn?

Even though there is no minimum income threshold for purchasing a home, being approved for a mortgage and purchasing a property can be difficult for individuals with middle to low earnings. Mortgage down payment restrictions, debt-to-income ratio (DTI) limits, and credit criteria are all common reasons for this, explains the real estate agents thomastown. Homeownership may be more achievable than you think with the help of certain loan types or programmes.

How to start your home buying journey today?

Work on your credit score

Having a decent or exceptional credit score can help you increase your chances of getting a mortgage. If your credit score isn’t ideal, try to improve it by making on-time payments, paying down debt if you can, and keeping your credit usage as low as possible. You can get better advise on financial aspects from experienced real estate agents.

Do you have a guarantor?

Finding a guarantor as a low-income person may be necessary to get your house loan authorised. Typically, this entails requesting a family member to guarantee that they will pay your house loan repayments if you are unable to do so. If you’re a low-income earner thinking about utilising a guarantor for your loan application, keep in mind that a lender may want to know about the guarantor’s financial condition to ensure they can help you pay off your loan if the need arises.

Outline the  budget

Knowing how much you can possibly spend on housing each month will assist you avoid taking on a higher mortgage than you can reasonably afford. Keep in mind any added expenses you may incur as a homeowner that are not already factored into your budget while planning this out. Repairs and routine maintenance can rapidly add up, so make sure to factor them into your monthly homeownership budget. Keeping track of how much you earn, spend, and owe each week can be challenging. Setting aside only 30 minutes or so to use the various advanced budget planners will help you figure out where you stand economically and make plans for the future.

Managing your expenses and debt

Another element that lenders will consider when determining your eligibility for a low-income home loan is your regular living expenses. This is advantageous because, even if you have little likelihood of raising your income, you usually have some control over your everyday spending. Reducing your debt might also make you a more appealing loan candidate. Reducing recurring costs and putting the money away can demonstrate to lenders that you have extra funds to contribute to your home loan repayments


Buying Property in Craigieburn, Wollert Donnybrook, or Epping? Read this.

“While the thought of purchasing your first investment property in the Northern Suburbs may be exciting, it carries with it a level of complexity and emphasise that you may not foresee. There’s more involved than simply registering your name on the contract. The process can be overwhelming, mainly for one who lacks knowledge about all processes.

For buyers considering property investment in the Northern Suburbs, it’s vital to hold precautionary measures before making the final decision. Entrenched in a complicated web of processes and regulations, genuine estate transactions are best handled by professionals and experts who grasp the risks and their the same as mitigating elements.


1. Beware of any advice offered—it will nearly always disadvantage you.
From plan marketers to sales agents, countless parties in the real estate industry will have their eyes on the committee pie. Nobody delivers you self-reliant or objective advice if they all work for the vendor in the property transaction. More repeatedly than not, any “free advice” they provide is always ‘sales advice’ and is backed by a property they’re trying to sell. In short, they’ll not think twice about trying to convince you they’re delivering you an excellent deal on a property that may not meet your needs so they can sell that property.

2. Know your risks.
Here, how much risk you’re willing to take shows how much you’re willing to gain. Real estate investment and the techniques needed to get into the market are complex. Be aware of those who try to market concepts for their services to make it seem simple, as they’re bound to either confound you in the process or ultimately separate you from your money. Knowing how much you’re willing to risk will assist you in making fact-based decisions and ensuring you only buy an investment property in the Northern Suburbs necessary for your risk profile and needs.

3. Consider how much debt you’re prepared to handle.As much as we want to use our own finances, making big decisions that involve property investment in the Northern Suburbs will put a need more money than you have. This is where a mortgage broker will be helpful and knowledgeable as they’ll have the proper contacts who can assist you to buy property in the Northern Suburbs. They’ll assist with your borrowing capacity and supply the best loan structuring for your real estate needs.

4. Understand your limitations in terms of knowledge and skills in purchasing investment properties in the Northern Suburbs.
From research to negotiation, finances to the actual acquisition—the complete process of deciding to buy a property in the Northern Suburbs takes a specialised skill set and impeccable industry knowledge that unfortunately not everyone has. Realize that this immense purchaser involves a soaring level of risk. Putting a considerable number of your hard-earned money into the wrong property can be disastrous. Get assistance and advice from knowledgeable agent or buyer advocate. They can assist you with the vast majority of aspects of the process for example researching, searching, negotiating, and buying amongst others. Paying for a buyer’s agent to assist you is frequently cheaper than losing time (and hence money) in a rising and rapidly moving market.

5. Have your potential investment property checked by professionals.Hire the services of relevant professionals to check various factors of your potential investment property. Get a pest inspector, building inspector to enquire and identify any cosmetic or structural issues that the property may have. This is a risk reduction process where you’re working out other costs or expenses you can factor in before considering any following offer.

6. Make sure you have contracts checked by a solicitor or a conveyancer.After you’ve decided on an investment property in the Northern Suburbs, it’s vital to have the contract reviewed by a solicitor or conveyancer for ensuring any aspect of it is thoroughly reviewed and nothing is left to chance. They should be qualified to assist and point out any areas of risk in the contract so you’re well notified about everything that the contract entails. If you have terms and conditions or anything else relating to the contract, they’ll be ready to assist you to outline those and discussing them accordingly.

7. Get the services of an excellent property manager.Once the property contract is unconditional, gain the services of a property manager who will help your asset on your behalf. Take the time to carefully assess and choose a reliable person to be trusted with your investment property in the Northern Suburbs. Contact our skillful property management team to discuss leasing your investment property today!”