8 Steps to Buying Property

1. Determine Borrowing Power

Ideally, you should save the highest possible deposit before deciding to buy property to minimise the amount you need to borrow. This will also minimise the amount of interest that will eventually be paid, and means you
may avoid extra charges such as mortgage insurance. Other elements to consider are:

  • Interest rates (would a fixed or variable loan work best for you?)
  • Additional costs of buying (such as bank fees, stamp duty and legal fees etc)
  • Consider speaking to a mortgage broker or other finance professional

GOT YOUR MONEY SET?

Now that you know what monetary factors to consider, read through to step two of the buying process: Research the Market