Hello and welcome back to the 360 Money Matters podcast! Property is one of the world's largest asset classes; your house probably is the most valuable asset you can own. And with property being a tangible asset whose value increases over time, this makes it a very attractive and lucrative market for people to safely invest in for the long term.
This week's episode serves as a masterclass on how you can facilitate getting into the property market, strategies to effectively go about purchasing a property, obstacles to consider for first-time buyers, and key areas that you need to understand when looking into purchasing a property.
Properties are a great way to diversify your portfolio and grow your wealth, so whether you're a first-time buyer or an experienced property investor, we hope this episode will help you gain a clearer understanding of the property market. Stay tuned!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• Hurdles for first-time property buyers.
• The loan-to-value ratio (LVR).
• Paying for mortgage insurance.
• How household income comes into play.
• Always get a pre-approval.
• Taking advantage of tax savings to get into the market.
• The first home loan deposit scheme.
• What makes property unique as an asset class.
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