Top tips to help you make 2023 your year to buy!

As predictions for the 2023 property market indicated, numerous opportunities for both first-time buyers and seasoned investors are becoming available – and it’s important to set yourself financial goals and take the right steps toward helping you achieve them.

Here are our top tips to help you feel ready to embrace the exciting prospect of owning your own home this year:

Evaluate your spending
Go through your credit and debit card statements to identify any unnecessary expenses and assess your needs versus wants. Consider cutting down on expenses such as multiple streaming platforms and take-away food and redirect those funds towards savings.

Evaluate your debts
Make a list of all your debts to see how much you owe and prioritise paying off those that have high-interest rates. Consider consolidating your loans into one loan to manage your debts better.

Make an appointment for a financial check-up
Schedule a meeting with a financial advisor or expert to help you review your finances, budget, and financial goals. Don’t make this a one off, schedule regular catch ups throughout the year to keep your goals on track.

Explore a range of mortgage options
Research the different types of mortgages (there is more than one!) and talk to lenders to obtain pre-approval for a mortgage. If you already own a property, consider refinancing to secure a lower interest rate and access equity for home improvements, travel, or education fees.

Research the property market
Spend time getting to know the property market and identify your must-haves and nice-to-haves. Keep in mind that property investments are more likely to provide stable income and capital gains if you hold onto it for over 12 months. Explore the range of home and land packages available at North Homes in our beautiful estates, located in Rouse Hill, Norwest, Box Hill and Claremont Meadows.