This debate has been around for many years, and it will probably be around for many more years to come. Is it better to buy a house or is it better to rent? There are upsides and downsides to both options but for the long term, buying is way out in front as the best option for most. Queensland has a lot more suburbs where it is cheaper to buy than to rent than any other state.
Many think that they need 20% of the purchase price as a deposit before they can get a loan and whilst this is true if you want to avoid paying mortgage insurance, there are still ways to buy your first home with little or no deposit.
If you are going to go it alone as a single or as a couple then you will need a minimum of 5% of the purchase price as a deposit. The account balances, if you are using more than one saving account, should have been built up, or held steady over the last three months, and the mortgage insurers will want to see this by way of you providing bank statements.
For income properties, your monthly rent is your staple. Find out what the average rental rates are in the area. Can you achieve above or below the average? At the very least, you are going to want to cover your mortgage payment, taxes and miscellaneous expenses like insurance. If this can be achieved, then you can move on.
The precise location was very important, and nothing was overlooked when the decision to finding a suitable site to introduce the Over 55’s Village. This has been foremost for when one is researching a new area and is key when looking for a home. This is somewhere that you are comfortable in setting down some roots. Oakland Estate has done extensive research prior to locking in the permanent location for the Village
The shopping precinct comprises more than 4,400sqm of retail space, anchored by a 1,200sqm Greener Grocer supermarket and 500sqm of specialty stores, designed to form a family-friendly social hub for the new heart of Beaudesert. All within walking distance of Oakland’s residential areas, your convenience is assured.
What developments are planned for the area which would positively or negatively impact the value of your investment property? Is it a high-growth area or one that is currently in decline?
The Queensland Government has introduced a future infrastructure plan spending more than $130 billion to bring better transports, lifestyle, further jobs and growth to the region.
Private investment will also see an additional $100 million in upgrades to local shopping infrastructure at Beenleigh Town Centre and Logan Hyperdome all within a stone throw of Holmview.
There is a lot of think about that is for sure and it can all seem daunting however we are here to guide you through the process. We love assisting people find their dream home and land. Give us a call today and start the journey towards a place of your own.