When it comes time to buy your next home, it's the perfect opportunity to review your home loan options.
The length of time you stay in a home will depend on many factors, ranging from meeting the needs of a growing family through to job relocation or lifestyle changes (e.g. sea change!).
Interestingly, the average length of time Australians stay in each property they own is 7.5 years (independent data supplier RP Data).
When it comes to buying your next home, there are many considerations. From understanding how much your current property is worth and how much equity you have built up, through to setting a budget on how much you can comfortably afford to borrow for your next home.
It’s also the perfect time to review your home loan options. This may include switching from your existing home loan provider to Bank of us to take advantage of better rates or more flexible loan options. The fact that we are 100% Tasmanian owned and operated, with local decision making, is a bonus!
When it comes to your borrowing power, loan types (including bridging finance) or switching, we recommend that you have a chat with a Bank of us home finance specialist early on to scope out your options.