Becoming a Homeowner Independently
Are you wondering if it’s possible to own your own home independently? If you’re looking to enter the property market on your own, there’s a few ways that you can do it successfully.
After all, it’s the great Australian dream to own your own piece of real estate. But what if you’re looking to buy a property when you’re flying solo? Don’t give up on your pipe dream. Hotondo Homes is here to suggest ways to buy a home if you’re single (without inheriting a large sum of money or needing to earn a Fortune 500 salary.)
Consider investing
Buying an investment property is a savvy home-owning strategy where the buyer rents a property to live in that’s suitable for their lifestyle, while they simultaneously own an investment property that matches their budget.
For example, you want to live in a three-bedroom home in an affluent neighbourhood, but you can’t afford the repayments on your own. With an investment property, you can buy another property in a suburb that’s within your budget, rent out that same property and use the extra funds to help cover your own rental payments.
The combination of rental income - and potential tax breaks - is a great way to break into the property market.
Adhere to a budget
Taking control of your finances is not only empowering but it also puts you in a better position to secure that home loan. Lenders want to know that you have the financial discipline to take on a monetary commitment for the long haul, and they’ll be keeping a close eye on your expenses column. If you can demonstrate that you have at least six months of regular savings through better budgeting, then you may stand a higher chance of getting that loan.
Buy a house and land property in regional areas
And sometimes, you just need to be realistic about where you want to buy. For singles looking to get into the property market, buying a house and land property in a regional part of Australia is a great way to get started. Not only are the prices considerably cheaper than established homes in the inner-city, but you’ll be able to match your dream home with your dream block of land - and on a budget that suits your lifestyle.
Furthermore, many of the house and land packages are built on estates with a strong sense of community, with features such as shops, schools, parks and bike paths within the area. With additional changes such as the flexibility to work from home and that you can then live in or rent out to families to help supplement your mortgage, it’s even more convenient to purchase a house and land property in the outer suburbs.
Talk to Hotondo Homes today
Making the choice to purchase a home independently doesn't have to be a scary experience. Simply reach out to the friendly team at Hotondo Homes when you’re ready to look at buying a house and land package.
Don’t let this exciting opportunity pass you by. With over 90 stunning home designs to choose from, you are sure to find exactly what you need and at a price that you can afford in an up and coming development.
Get started on building your dream home today and contact us on 1800 677 156 or visit our website for more information.
