Quite frankly if you live in a house, it doesn’t matter so much what the media say about property market regardless you own or rent your home. You pay for it anyway – right? Importantly if you want to jump onto the property ladder to own your home you need to make an educated decision for considering risks. That is all you are going to do about it.

What are the risks for you?

Most of the related risks are like the weather, you can’t change it but being prepared is the only thing you can do. The economic climate might be one of the key elements to watch because it has a profound effect on the job security. Don’t be irritated by the media who are trying to persist the myth that the recession is over. Not even you know whether your job is secure or not. Another key element to watch is interest rates. Talk to different banks and compare mortgage options like fixed or floating and consider even to split for paying off the loan quicker.

Being financially sound, having worked out the budget to pay related expenses you can buy your family home in any market. In previous posts I talked already about attitude, a plan and spare money for rainy days. What are the steps to go into it?

1) Assess which suburb you want to live in and you can afford.

2) Do research, information is worth money, compare properties in different suburbs and price brackets. That gives you confidence when closing in on your “dream home”.

3) If you found that property matching your tick-list, do an on-site inspection, check city council records and return with a professional building inspector to confirm your results. Don’t rely blindly on anybody.

Possibly, now you’ve found more questions than answers – if so, drop a line, we are happy to assist. As you know a property can make it or break it.

Stay safe

Klauster