Professionals Real Estate 
It’s time to take advantage of low interest rates
Australians are enjoying lower interest rates than ever before, with the recent cuts from the Reserve Bank meaning that some homeowners are shaving thousands of dollars off of their mortgage.
So, what can you do to make sure that you are making the most of a low interest rate environment? And is there anything you should be doing now to put yourself in a better financial position for the future?
Find the best deal
The official cash rate set by the Reserve Bank may have dropped, but that doesn’t necessarily mean that your lender is passing on the full savings to you.
Many lenders have decided to pass on at least a portion of the recent cuts however, with a rare few even dropping their rates to below 3 per cent.
The interest rate isn’t the only thing to consider when comparing home loans but it’s a good place to start. If you’re unhappy with what your lender is offering then now is the time to have a chat and try to negotiate a better deal.
It can take a bit of research and negotiation skills to find the best home loan, but you could make considerable savings in the long run.
Get ahead
You could just enjoy lower repayments each month, but since you’ve probably already gotten used to paying a higher amount in interest each month you could use your new savings as extra repayments on your home loan.
It may not seem like much, but every extra bit you can pay on your loan helps you reduce your debt quicker, which means you’ll end up paying even less interest over the life of your loan.
Seek good advice
Interest rates are just one part of the equation. There are a lot of different types of home loans out there that suit different individuals based on their specific circumstances.
It’s best to talk to a quality mortgage advisor who can find a loan that’s going to work best for your personal situation. Taking the time to find the right home loan product could help you make considerable savings.
Tips for securing a rental when moving interstate
Relocating to a new neighbourhood is daunting at the best of times, but if you’re planning to move across the country it can provide a whole new level of difficulty.
Moving interstate isn’t impossible though. It just takes a bit more time and consideration than if you were moving somewhere close by.
Research as much as you can
If you don’t know much about the area you tend to move to then make sure you take the time to research it as much as possible. Suss out what the different neighbourhoods are and the types of accommodation that will be available.
Depending on your circumstances you may also want to look into things such as local schools, access to public transport and other amenities.
Finding out everything you can about an area will help you hone in on a specific location so you can work out how much rental prices might be.
Plan a visit before moving
Nothing beats on the ground research. Try to organise at least one weekend where you can go to rental inspections and check out different neighbourhoods. It’s also a good idea to chat to agents while you’re there to get some local insights that might help you make your move a little easier.
If you can’t visit first…
Most rental agencies require that you physically inspect a rental property before making an application for the benefit of both parties – after all you can never really know what you’re going to get based just on the information you find online.
If visiting potential rental homes isn’t possible before moving then you have a couple of options that may work for you.
One option is enlisting the help of a trusted family member or friend who can view the property on your behalf. This option is risky though as you what you are told about the property may not match up to your expectations when you see it in real life.
Another option is to organise short-term accommodation for when you arrive to give yourself time to secure a rental.
This is the best solution for most people as it means they can get to know the area and take their time finding a property that’s right.
Once you view a property and apply it is often a very quick process so you might only need accommodation for a week or two while you work out where you will be able to rent long term.
never have been able to come up with on your own.
