If you are considering buying a property and are tempted to borrow the entire purchase price, as well as enough to cover all the other outgoings such as stamp duty and conveyancing, Marquette Turner will always advise you to err on the side of caution, as enticing the opportunity may seem to be.
As is always the case with property, make sure you are looking at your long-term goals, and never be unaware of economic factors, regardless of how “novice” you may rate yourself in such issues.
Think of a worst-case-scenario: don’t try to relate to your comfort zone now, relate to issues that may make your like somewhat more difficult.
Remember, the more equity you have in the property you are buying the more comfortable position you are in. This will allow you to weather booms and busts, and all investment cycles.
Listen to your head and think of the long-term. And of course, never be afraid to ask Marquette Turner for a little bit of guidance. Our team are always available to offer our assistance and thoughts (real estate or not!) but remember that it’s always better to ask the question than regret it down the track.
Simon Turner, Marquette Turner