Is It Time To Buy A Second Home?

If you’re happily living in your first home, you may be wondering why some other first time homeowners are so keen to buy another property.

Do they know something you don’t? Did you miss a memo at some point?

Probably not! But just in case, here are some common reasons to consider buying a second property.

Bigger and better

A lot of people buy their first home when they are young, and as such their earning power may restrict them when it comes to home loans and the houses they can afford.

Thus, a few more years down the track and into their careers, they might find they can now afford a bigger property.

Location

A change in location can drive many homeowners to look for a new property.

This could be driven by a desire to live within certain school zoning areas, proximity to places of work or the need for a change in lifestyle - e.g. swapping the urban environment for rural living.

Investment

Many may see the benefits of accessing investment loans which take advantage of the equity they have accrued to start investing in property.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.