Home loans customers 'should not rush into buying'

Aussies that have secured home loans have been urged not to rush when selecting which house best fits their criteria.

In an article for the Coolum & North Shore News, director of Whittaker Macnaught Noel Whittaker observed that one of the first steps when applying for a home loan is to establish how much money is available to make repayments.

Those who are unsure how much they may need may benefit from doing some research on the internet or going online to compare home loans.

The expert asserted that the key to getting good capital growth from a property is to find one that is in a good location and to purchase it at a low price.

However, he stated: "This may take some time but it will be one of the largest outlays of money in your lifetime so don't rush it."

Last month, financial planner for Centric Wealth Greg Pride told the Sydney Morning Herald that Aussies with a mortgage who receive a large windfall should consider putting at least some of it towards paying off their home loan.

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