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Is now the right time to buy?

Is now the right time to buy?

This is a question that we get asked all the time right now.

Unfortunately, the answer is not a simple one because it is totally dependant on your individual circumstances.

If you've lost your job or your income is insecure due to the current economic climate, then buying a new home will be precarious. You’d also probably struggle to get a loan with this scenario. However, if you're financially strong and have a deposit ready to go, then it's easy to argue that with circa 2% mortgage rates, 2020 could provide an opportunity too good to ignore!

Our tips in uncertain times are:

  • Buying and selling in the same market is often the safest strategy
  • Buying with the intention of holding for a longer time period tends to reap the best rewards
  • Speak with your financial advisor to clarify your financial position

 

by Justine Meloy

Wednesday 08 Jul 2020

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