We are often approached by new homebuyers who are keen to get their home building journey underway but who are held up by the fact that they have to wait to save the required deposit amount.
Many people want to act quickly to secure a loan and take advantage of historically low interest rates. Having to wait 6 months to free up a deposit amount often means good opportunities on home or land specials pass buyers by before they can qualify.
Tax time is a good time to make significant in roads towards saving for a deposit. With personal refunds expected to average more than $2,300* this can significantly add to the deposit amount typically required to buy a new home.
You don’t even need to have it paid into your account to commence the building process. Our financial advisors can assess your return, add it to your existing deposit amount and get the building the process underway while you wait for the return to be paid.
It’s a great way to significantly bring forward the potential purchase timeframe of your new home and means that you can take advantage of today’s favourable building conditions sooner.
If you’d like further advice contact us via our finance enquiry form or call us on 9440 1800.
*Third annual Bankwest ‘Taxing Time’ Survey. (http://www.bankwest.com.au/media-centre/financial-indicator-series/third-annual-taxing-time-survey-1292483185686)
– Craig Park, General Manager