Anyone who has owned property for more than a couple of years may have seen movement in the property market.
It may pay off to get an indication on the value of your property and discover what options are available to you.
Stop asking yourself, “What is my house worth?”, and find out if you have equity waiting to work for you.
Are You Thinking Of Selling?
Have you been thinking, “Should i sell my home?” Or, “Has the market hit it’s peak?” Perhaps you’re just curious to see how well your property has performed since you purchased it.
The next logical question is, “What is my house worth?”
Once you have confirmed this, you will be in a much better position to decide whether it’s the right time for you to sell, or whether to hang on to the property for a longer period of time.
A free property report can provide an estimate on what the value of your property might be, as well as other useful insights such as recent comparable sales in the area and what similar houses in the area are renting for.
Can You Buy An Investment Property Today?
Many clients ask us if they can purchase an investment property. In most cases they are in a position to purchase an investment property much sooner than they first thought. This is often because they have a lot more equity in their property than they initially imagined.
You could draw on this equity as a deposit for an investment property. And you needn’t limit yourself to a specific city. If you’re open to purchasing interstate there could be fantastic opportunities, no matter when you decide to enter the investment market.
If you have a good mortgage broker, they will be able to assist you in finding out if you have sufficient equity and help you to establish a plan for your next investment purchase. Don’t automatically think you don’t qualify! You could be ready much sooner than you realise.
Are You Buying Your First Home?
Even if you’re looking at buying your first home, still do your homework.
By arming yourself with information about what the property is worth and getting information on the surrounding suburbs, comparable sales and rental estimates, you will be in a much better position to make a decision on your purchase.
Can I Refinance Or Consolidate?
Once you have an estimate on the value of your property, it may be a good time to consider refinancing your home loan to ensure you are on the best deal. Interest rates have moved quite a lot in the last few years and refinancing could save you a significant amount on your monthly repayments.
If you have some equity available in your property, you could even consolidate any credit cards or personal loans you’ve taken out. Consolidating this debt could reduce your monthly commitments, improving your cashflow.
When refinancing, you could also get cash out from your equity as a deposit for your next investment property. With cash in hand you’ll be ready to pounce when you find the right opportunity.