For those of you in the market for a property, whether it’s your first home or a property you plan on add to your growing investment property portfolio, there are a few tips to follow to save money.
- Get the property valued – If you’re serious about a property, it pays to have it independently valued and assessed. This will give you an idea of whether the property is reasonably priced and whether renovations need to be made.
- View the property on multiple occasions – Make sure you view the property on multiple occasions so you’ll have a greater understanding of the property and its surroundings, such as noise from street traffic and overhead aircraft, the volume of traffic at varying times of the day, availability of street parking and how much natural light is in the home.
- Double check the brochure info – Even if it seems right, double check what the real estate brochure states. They are after all, trying to sell you a property. Check for yourself how long it takes to walk to the train station and how far it is to local shops.
- Grants and concessions – In most countries, there are a number of grants and concessions available to different groups funded by individual states or counties, so look into whether there is a grant that applies to you.
- Home loan comparison charts – With so many banks and lenders offering different mortgages, take advantage of home loan comparison charts and home loan health checkers to see whether there are any other home loans better suited to you. It also makes sense to explore whether the option to refinance is a possibility for you.
If you’re in the market for a new property, take note of these few simple tips so you can stay ahead of the game and save money on your mortgage.
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