Mortgage Brokers are a third party business who work to find you the best offer on your home loan package, and assist you with your home loan application. It costs you (the customer) nothing to meet with a Broker and have them assess the health of your current homeloan. Mortgage Brokers earn their fees through commission on the rate negotiated for you from the lender that you select. A Broker should be able to present you with a few comprehensive options as well as your current option so that you can see how each deal stacks up against your existing homeloan. Then you can make an educated decision on which homeloan package best suits your current circumstances.
Stanton & Taylor Real Estate offers obligation free property appraisals as part of our range of property services. Our team of sales agents can schedule an appointment with you to come and view your property, and give you a thorough market appraisal. Our agents are highly experienced and can tell you what your property would be worth in the current sales market, or offer advice on areas where your property could use renovation or refurbishment to capitalise on your sale. They can even connect you with trades from our Trade Hub to organise quotes for future works. Knowing what your property is potentially worth gives you more options such as using your property's equity to purchase an investment property, or sell your property and look at your next purchase.
If you are looking to downsize, or purchase an investment or whatever the motivation may be, purchasing property is among the most difficult things you can do in your lifetime. Even for those that have purchased property in the past, there is usually a period of time between your property purchases and some of the basics of purchasing might not be at the forefront of your mind. If you haven't already done so, and you are considering purchasing property, now is a great time to meet with a mortgage broker or financial institution to see what your borrowing capacity is. You will also require a minimum of a 5% deposit, but 10% is ideal. When you have your pre-approval in place, that is the time to start property shopping. You can start making offers when you see a property that piques your interest. If you get an acceptance on your offer, you will need to pay a holding deposit, at which point your cooling off period should commence. This is the time to organise your building and pest inspection, strata report (for units, duplex and townhouses) and be in touch with your bank manager and conveyancer.
If you're not quite ready to sell, perhaps placing tenants in the property is a better solution for you. The median rent for houses in Penrith is $505 per week (June 2023), and $450 for a unit (June 2023). A more accurate rental appraisal can be organised by our BDM or one of our senior Property Managers, who can drill down to find comparable properties to yours that were leased in recent weeks. Rental income is a great way to subsidise the cost of owning a property, and our management fees are a small percentage of the money collected on your behalf in exchange for our property management services. Our friendly staff can organise maintenance for your property through our fully vetted and licenced team of trades people, attend tribunal on your behalf, ensure your property is being kept to standards with regular routine inspections and more.