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Buying a property with confidence

Wealth Works Mortgage Broker Kim Gallie shares her top tips for preparing for your property purchase

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Buying a home or investment property is one of the biggest financial decisions you’ll make in your life, so it’s important to take the time and be prepared. When your house hunting, you’ll be thinking about where to buy, what to buy, attending open homes, adding auction dates to your calendar and it can soon feel overwhelming - and on top of all of that, you probably need to arrange your finance too.

That’s where the help of an expert can really make a difference. It’s important that you have the confidence to get into the market and make offers.

Know your limit
Knowing how much you can borrow and what that will cost you is really important. You need to be comfortable with this. It not only helps you budget, it can be key factor in working out where you can actually afford to buy.

Find the right bank and the right loan
There are so many lenders out there, how do you know who is the best bank for you and which is the best kind of loan?  Banks are very competitive these days and all offer a variety of types of loans.  It’s important that you know which lenders to approach and where you’re likely to get a positive response.  Each of their different kinds of loans have various features and benefits and these can be tailored to your particular situation so that it works effectively for you.

You’ll want to ensure you’re getting competitive interest rates and any special offers you’re eligible for, as well as understanding any costs and ongoing fees and charges involved.

How to prepare your finances
Getting a formal loan pre-approval in place is an excellent first step to buying property. It will give you the confidence that when you make an offer on a property, you’ll be able to see it through.  It gives you clarity around what you can and can’t do and comfort that you’ll be able to manage financially when you buy the property. A mortgage adviser can help you achieve these things. They can guide you through the process, answering all of your questions, so you can be confident in entering a competitive buying market. They are also familiar with what government grants are out there, and guide you in finding out if you’re eligible for any of them.

If you’re considering buying a property, call me now to discuss.  I work with most lenders in New Zealand and can guide you through this process to ensure the finance side is stress free, so you can focus on the house hunting itself. 

Contact us today for a chat about your lending options 09 306 5820 or 027 477 9609
Kim Gallie | kim@wealthworks.co.nz

 
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