What to Consider when Buying a Second Property
Buying your own home remains the great Australian dream – and purchasing a second property may help you take your wealth further. Whether you’re building your property investment portfolio, buying a holiday house, upgrading or supporting a family member, there are plenty of things to think about before you take that all important next step. Consider your cashflow Property tends to be a long-term investment, so do your sums to make sure you can afford the ongoing repayments on two mortgages. Also think about any major life changes on the horizon – for example, you may be planning to expand your family, or you might need to support a parent in the coming years. Get to know the market and location Research what’s happening in the current market, and whether it’s the right time for you to invest in a second property. Investigate before you invest in a second property If you’re buying a property as an investment, carefully consider its location. Choose the right mortgage Like this: Like Loading...
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