Buying in early can really pay off with new townhouses

Share this post:

If you have saved a deposit, buying off-the-plan or under construction could be a great option. 

With townhouse developments, buyers in the early stages may see price growth over the life of the project, in line with the greater market. Buying in early also gives you more time to save a deposit. And if you have a existing home to sell, this extended time frame will give you more time before your new townhouse is built and you are needing to settle your final payment.

CHOOSING A HOME LOAN:

There are many types of loans with different fees, conditions and charges. You need to do careful research when talking to any financial institution.

You should look at a lender’s comparison rates. Comparison rates will combine the interest payments with other fees and charges.

ASK YOUR LENDER QUESTIONS:

When you meet with a lender, ask the right questions to decide if a loan is the best mortgage option for you.

- Can I fix the interest rate & are there any restrictions? 

- Can part of my loan be at a fixed rate & part at a variable rate?

- Can I swap between fixed & variable rates during the life of the loan without charges? 

- How will any interest rate rises affect my repayments?

If you are considering the purchase of a new home or an investment property, the townhouse buyers guide will help you to better understand all the steps to buying off-the-plan, under construction or newly built. The free guide covers the A to Z of buying new and is a must read for all singles, downsizers, families, investors and first home buyers. Click here to request your free copy now.

Related Articles

Is QLD on the cusp of a property boom?

As reported by Elizabeth Tilley on realestate.com.au, Economists at Westpac who were forecasting price falls of 10 percent at the start of the year are now predicting a 20 percent rise in Brisbane property prices over the next two years — the highest of any capital city.

An extra $25,000 HomeBuilder grant for new home buyers

The government is handing out a $25k grant to eligible new home buyers – but you could nearly double this as a first home buyer in QLD. Called HomeBuilder, Prime Minister Scott Morrison said it was now time to get building...

First home buyers slash their costs on a brand new property

Brisbane first home buyers can now make the most of combining a range of state and federal benefits available to them. This week, the townhouse.com.au team met with Mark Edbrooke from Aussie Paddington who said, "If you ....