The bigger the better. Ideally, you will have about 20 percent of the house purchase price saved up. This is a good idea for a couple of reasons.
The lender may ask for three to six months of bank statements for your transactional accounts so they can identify incomings and outgoings.
Pulling together the information for a loan application can seem daunting, and may even feel a little invasive.
Finally, where is the wriggle room? When you buy a brand new property, your room to negotiate prices is strictly regulated by a set-price list.
New properties don’t cost that much more than established properties.
People think there is less maintenance involved in a new property
why buying a brand new house or unit is enticing. However, that doesn’t mean it is a smart decision. There are more tax benefits for new properties
The fresh smell, the clean slate, the low maintenance - are just some of the reasons why buying a brand new house or unit is enticing. However, that doesn’t mean it is a smart decision.
Short term lets – more vacancy, more costs
Tenants love them and they can really add value so try and get as many of these in your property.