Purchasing a Home or Investment Property
Buying a home to live in?
When buying a home, it’s one of the biggest financial decisions you will ever make. To help you understand this process we've broken it down into 6 easy steps.
We know and understand that the process of buying a new home can be quite daunting. Konnect Financial Services provides a step by step approach for any home purchaser, new or investor. We help you to work out how much you can borrow, find the most suitable loan and submit your application offering you expert advice and support right through to the settlement of your loan and beyond.
Step 1: Working Out How Much You Can Afford to Borrow
We will meet with you and from there assess your total borrowing capacity based on your current financial situation. If you want a general idea today, try our home loan Calculator.
Step 2: Helping you Find a Home Loan that Suits You
Each person has unique requirements when applying for a home loan. With hundreds of different mortgage products available to you we will tailor a loan package that is right for you. We can also discuss strategies that can help you reduce your debt faster and help you implement them.
Step 3: Contracts of Sale
When you have decided to purchase and your offer has been accepted by the vendor, the purchase contracts are drawn up, it is always important to remember a few key points at this stage:
• If you haven't organised your finance make sure you sign the contract of sale "Subject to Finance".
• It is always wise to have completed a pre purchase house inspection from a registered builder.
• If you are buying land and looking to construct look to have the soil tested etc.
Step 4: Choose a Solicitor / Settlement Agent
If you haven’t arranged a solicitor or conveyancer before signing the Contract of Sale its best that you get their expertise involved from here on out. Their role is to manage your legal rights through the contract and purchasing period through to settlement.
Step 5: Formal Approval
Once your loan has been successfully approved we will contact you of your success and then inform your conveyancer and the real estate agent.
Step 6: Settlement Day
Prior to settlement we can go through with you your mortgage documents and return them to the lender on our behalf. Within a few weeks your loan is settled and the property is transferred into your ownership. You are able to begin moving in from this day.
As you can see we are in contact with you throughout the entire process...
Buying an Investment Property?
Many Australians choose to buy investment properties as a strategy to increase and improve their overall financial situation. While many other investments, such as shares, can be volatile and carry great risks, investing in property has shown continual solid capital growth, the opportunity to create a great passive rental income and also has good tax benefits.
There are many different ways you can invest in property. Developing a personalised strategy for investing is important and having your finance structured correctly can help maximise the tax benefits and assist you to manage your property portfolio.
An Investment Loan is a home loan. What makes it different is only the purpose. We can discuss with you the correct way of structuring your investment property loans. If you’re an investor just starting out or a seasoned investor our loan structuring advice and selection of lenders will get the job done.
We offer a package that includes a 3 step process to buying an investment property. Contact us for further information.
The following is a list of tools and information that you can use to assist you in your search for a new home & the right loan: