Tired of sitting on the sideline and want to score your financial goals sooner? Mid-year is a good time to review your progress over the past 12 months and strategy for the future, to help you hit the ground running in the new financial year.
It is an ideal time for borrowers and those-to-be to:
- Reassess your property goals
- Revisit your budget
- Make the most of any new windfalls while putting in place a solid plan for the new financial year
This applies whether you are looking to move out of the rental market through buying a home, purchase an investment property, upgrade or downsize your place of residence, pay more off your mortgage or help your child into their first home.
Tip #1: Existing and potential home loan borrowers now have a great opportunity to contribute any end of financial year bonus, new pay increase or tax return towards their property goals while checking they are on track to achieve them.
Tip #2: Set goals. Setting realistic goals on a regular basis is vital. Biting off more than you can chew or constantly falling short of your expectations can set you back emotionally and financially. Now is the time to set your property goals in motion by thoroughly revisiting your finance strategy.
Next week we have 5 additional tips (part 2) which can help you plan your new financial year strategy so stay tuned!
In the mean time check out: Should you choose a fixed interest rate or variable interest rate mortgage? .
Also, why not book a free appointment with a mortgage broker to find out more information on home loan options out there and what would suit you best, alternatively have a look at tips and checklists which contains useful property investment tips and home buying checklists.
What do you think about these tips? Leave us your comments below.