You have researched the market online. You have compared asking prices with recent sale prices. You have discussed your property needs with family and friends. Spent some time with a local real estate agent and invested valuable time attending open house inspections. You may have taken another step and consulted a property buyer to look at all these issues.
However, there are so many other issues and questions to consider:
- Now that you have researched the market, have you discussed the decision with your financial advisors?
- What are the options available?
- Should I buy the property in my personal name, company, family trust or even a self-managed super fund?
- Will the loan be tax deductible and what are the cash flow requirements?
- Will this property purchase fit in with my long term financial plan?
- Will this property purchase be a short or long term investment?
- Is it an investment at all, or is it a home for the family needs?
- Have I consulted my solicitor or conveyancer?
- What are the options available with the property contract?
- Do I want a quick or long settlement?
- Do I have to pay 10% deposit or can I pay less, or do I have to pay any deposit?
- Do I need a loan to buy the property?
- Even if I have funds in the bank, what is the best option?
- Have I sourced the best finance loan for my needs?
- Can I afford the loan repayments to purchase the property?
- Can I only repay the interest and if so, for how long?
- Is fixing all or part of the loan an option?
- Is my existing bank really looking after me or is there a better option?
As you can see, there are many questions to be answered when considering a property purchase. Many of these answers can be provided within the Allan Hall group.
All of your finance questions can be answered by Stephen Cleary, David Cleary and Mitchell Cleary at Allan Hall Finance. Between them they have extensive experience and knowledge to assist you.
Please contact Stephen – 0416 530 584, David – 0425 323 023 or Mitchell – 0412 038 205 to discuss your needs.