November 04, 2013
4 November 2013
First home more than a roof over your head
Over 60% of first homeowners purchase property to secure their financial future
The majority of first homeowners are jumping onto the property ladder in a bid to set themselves up financially for the future, according to new data from Mortgage Choice.
In the recent First Homeowners survey, which looks at the thoughts and responsibilities of those who have purchased their first home within the last two years, over 62% said they purchased property to secure their financial future.
Local Mortgage Choice franchise owner Des Nation said it was pleasing to see that the majority of recent first homeowners consider property to be a sound wealth strategy both now and into the future.
“First homeowners are a savvy bunch, they no longer see a home as merely a roof over their heads, but a lucrative asset that forms a key part of their long-term financial strategy,” Des said.
“Property investment often allows Australians to future proof their wealth, a fact that first homeowners seem to understand well.”
The survey also found that two thirds of recent first homeowners plan to keep their first home as an investment property when they are ready to buy again.
“First homeowners recognise the benefits of having an investment property in their financial strategy. An investment property can be a very saleable asset and may help owners generate substantial wealth in the future.
“Better yet, it is critical for property investors to know the area they purchase in. If the owner has lived in the property previously, then they will know the area intimately and know what rental returns they can expect to receive.
“If you are considering keeping your first home as an investment property, a mortgage broker, like myself, can help you make this a reality by assessing your financial situation and ensuring you are in the right home loan product for your future needs,” Des concluded.
For more information on property investment call your local mortgage broker on (02) 9833 8177, visit 1/211 Queen Street, St Marys or log onto www.mortgagechoice.com.au/des.nation
For further information or to arrange an interview, please contact:
Mortgage Choice St Marys
(02) 9833 8177