Benefits of owning your own home

If you have never owned a home before it can seem like a daunting process, so we’ve made it simple and are here to help you every step of the way to secure the home of your dreams!

If you’re a first home buyer you are eligible for a $20,000 First Home Owners’ Grant from the Queensland Government which can be used towards your deposit. You can get started with as little as $3,700 in savings and weekly mortgage repayments are from $370 per week – which can be less than what you are currently paying in rent!

Did you know…

If you are currently renting a property and paying $450 per week you are spending the following amounts towards someone else’s home loan.

1 year   $23,400

2 years $46,800

3 years $70,200

4 years $93,600

5 years $117,000

That’s an astounding amount of money. Why pay off someone else’s home, when you could be paying off your own!?

See below some benefits of owning your own home:

  1. A mortgage is a form of enforced savings

Having the discipline of making regular mortgage repayments is a great way to force you to save money by putting it into your mortgage instead of spending it. The added benefit of this is that part of your monthly repayment is going towards paying off your own property, rather than your landlord’s.

  1. You can make your home your own

You can paint, renovate, and landscape at any time without having to ask permission or be concerned about breaching a rental agreement.

  1. It will build your wealth

Your investment should increase in value over the long-term, at a rate greater than inflation.

  1. It gives you certainty of tenure

Owning your own home gives you a sense of security. Living in your own home means that you are not at risk of having to move due to a rental agreement finishing. Having your children attend a local school for a number of years can be easier when you have certainty of tenure.

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