Yes every Australian can buy a home !!

| February 21, 2010

The “great Aussie dream” of owning your own home is now out of reach for some people — especially if that dream is to own a free-standing house.

Get your great aussie dream now

The dream is not lost , most Australians with a job definitely can get a home of their own. The idea is to forego that the first property is going to be your dream home. Buy one that will be a good rental home. Keep your budget to the minimum for your first property but do keep in mind the rental value in it while purchasing.

Get your dream home now

The theory is that you live in the first property for eight to 10 years, over which time it should gain in value. You then use the equity in the first property, and the amount paid down to get into a bigger property, which you also keep.

“If you buy at 30 for $ 250,000 to 350,000, then by 40 or 45 you’ll be looking at moving into your own  Dream family home.

“Westpac Bank announced last week that the maximum loan-to-value ratio for their new customers is 87 percent.  That means that instead of the ideal 10 percent deposit required, Westpac now demands a minimum 13 percent deposit.With banks tightening up on lending criteria, a good-sized deposit is your best option in the housing market right now.

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Category: a, Australia, Dream home, Featured, First home Owners grant, home loans, Property Market

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Property man writes articles related to property , stock market and finance. if you like what you see do bookmark the blog and leave me a comment

Comments (1)

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  1. Ethan says:

    To purchase and own a house is each and every person dream. But in this economy it becomes really difficult to purchase home. Well now it becomes easy to purchase home with the help of lending institutions. The institutions help to purchase the home and fulfill the dream.
    saving money

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