How much money can I borrow?
Before you even start looking around at properties to buy, it is a good idea to find out how much you can afford to borrow and, even better, get pre-approval for a loan.
The team at Oxygen Home Loans can help you. They will assess:
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Employment history or continuous income
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Your deposit - 10% to 20% is ideal
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Your monthly expenses
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Your credit history
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Any debts you may have
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Your assets
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Any other loans you may have
Want to quickly see how much you may be able to borrow?
The buying process
STEPS TO RESEARCH
Talk to your local agent
Where to find property data
WHAT MAKES A GREAT LOCATION WHEN BUYING REAL ESTATE?
Location is a home buyer's most important consideration. You can always renovate or improve a home, but you cannot change its location. The location also directly influences the capital growth of the property. If you buy in an area primed for growth it can help build your personal wealth faster.
But what actually makes a great location? In essence, a great location is one that allows you to live the lifestyle you want for you and your family. It is the mix of physical location, the character of the suburb and its proximity to desirable amenities.
Find recent sales data
NEIGHBOURHOOD FEATURES TO LOOK FOR WHEN BUYING A HOME
Location is a home buyer's most important consideration. You can always renovate or improve a home, but you cannot change its location. Capital growth is also directly influenced by location.
Here is a look at some key ways you can assess a neighbourhood:
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Proximity to amenities such as schools and parks
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How long will it take to get to work?
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Does the suburb have a low crime rate?
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Are the homes in the area well maintained?
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Does it have good walkability to services?
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Are there any planned upgrades?
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Does it have historic charm?
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How might development plans affect lifestyle and property price?
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What are the aspect, views and outlook like?
