Why Now Is the Right Time to Buy Property
It might seem surprising, but there’s never been a better time to buy property than right now—so what’s stopping you?
The end of the financial year can be a busy and stressful time, but it’s also a great opportunity to reflect on your goals and plan for the future. While January is known for fresh starts, mid-year is just as good a time to take action—especially when it comes to property.
Three Key Reasons to Buy Property Now
1. Interest Rates Are Rising—Act Before They Go Higher
While increasing interest rates might seem like a reason to hold off on buying, the reality is that they’re expected to continue rising. Locking in a mortgage now, especially with fixed-term interest rates or rate lock features, could save you money in the long run.
2. New Government Schemes to Help First Home Buyers
With a new government in power, fresh initiatives have been introduced to make it easier for first-time buyers to enter the market. One of the biggest programs, the Home Guarantee Scheme, is designed to help buyers get into a home faster with a lower deposit. However, places in these schemes are limited, so acting quickly is key.
3. The Property Market Is Cooling Down
After nearly two years of soaring prices, the market is showing signs of slowing. ANZ forecasts suggest that house prices will drop by 3% in 2022 and a further 8% in 2023. This shift creates a window of opportunity for first-home buyers to enter the market at a more affordable price. If you’ve been waiting for property prices to ease, now is the time to start preparing your finances.
Get Expert Help to Navigate Home Loans
If you’re looking to buy your first home, invest in property, or refinance your existing mortgage, choosing the right lender is crucial. Not all banks and lenders offer the same loan options, and factors like fees, features, and interest rates can vary significantly.
That’s where expert guidance comes in. Goodwill Finance is an experienced mortgage brokerage with a background in banking, finance, and business development. We are passionate about helping people navigate the home loan process and achieve their property goals.
Ready to Take the Next Step?
The first step in buying a home is understanding your options. You can call us on 0423 459 480 to discuss your mortgage needs and start your journey toward homeownership.
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