Each new year brings with it new goals and aspirations, but when it actually comes to thinking about resolutions for 2018 where should you begin?
For many Australians property will be their most valuable asset and financial commitment, which means reviewing your home loan and property goals is a great place to start.
So whether you're looking to buy your first home, your fifth, or you just want to add value to the property you already have, these are five resolutions you’ll want to keep.
1. Keep on top of the market
To give yourself the best chance for success in 2018 you’ll need to do your research. Whether that’s the likelihood of an RBA rate change if you’re an owner-occupier, the property hotspots to keep an eye on if you’re looking to invest, or the changes to government grants and schemes for first home buyers, keeping up to date with the latest developments is key.
2. Reassess and refinance
Is your home loan rate still competitive? When was the last time you checked? Mortgage rates are even lower now than they were 12 months ago, so now is the ideal time to compare options and snare a red hot rate. The lower your rate, the faster you’ll be able to pay down your loan and build equity in your property. Mozo calculations suggest that the average borrower* could be saving up to $2,039 each year by switching to the most competitive loan on the market.
Here are some some of the lowest rates on the market right now to help you get started.