Buying Or Selling A Home?

For many of us, the family home is the biggest single investment we make.

If you’re buying a new home you’ll be familiar with endless trips to real estate agents, scouring the papers every week, and attending an endless parade of inspections and auctions…let alone the challenge of saving a deposit and selecting the right home loan and mortgage provider.

When you finally find the right place, the one you know you can call home, the feeling of accomplishment is overwhelming.

Then the realisation hits. You begin to understand the magnitude of the financial commitment you have made.

  • How do you know if your home loan is right for you if your circumstances change?
  • Can you afford the repayments? There are 780 fortnightly repayments to be made on a standard 30 year loan.
  • What happens if you get sick and can’t work? How will you make your repayments then?
  • What are the risks associated with buying a home?

Having so much money invested in one physical location is a significant risk. Most Australians are aware of the need to protect their main asset with home and contents insurance. But many people ignore the risk of not being able to keep up with their repayments.

Whether you are considering your first property or you are a seasoned buyer, a financial adviser can help you reach your financial goal of owning and maintaining your dream home by:

  • saving your deposit sooner
  • paying off your mortgage quicker
  • setting up insurance to ensure you can keep up with your loan repayments in the event you are unable to work.

Many mortgage holders don’t realise how an illness or injury might affect their income and ability to repay a loan. Insurance solutions such as income protection and trauma insurance can help you keep up with repayments while you recover from an illness or injury.

Just as buying a home is a significant decision, selling a home whether it be the family home or an investment property is an area that Country Wide Wealth can assist with.

Issues you might need to consider are:

  • Do you still require all your insurances?
  • Are you creating a tax event by selling an investment property and how can we minimise the resultant consequences?