Should You Wait to Save 20% Deposit? Unlock the Truth About Small Deposits & Home Buying

Рет қаралды 2,076

Mortgage Broker Australia - Hunter Galloway

9 ай бұрын

Welcome to another episode on the Hunter Galloway channel, the home for home buyers across Australia! In today's video, we tackle the big question-should you wait to save a 20% deposit or go ahead with a smaller one? We'll discuss real-life examples, delve into the pros and cons, and reveal what lender's mortgage insurance could cost you. Don't miss out on potential investment opportunities waiting to save up; let us help you weigh the options.
👉 What we'll cover:
The Dilemma: To wait or not to wait?
The Pros of Entering the Market with a Small Deposit
The Cons Including Lender's Mortgage Insurance Costs
How Market Fluctuations Can Affect Your Decision
🏠 If you're looking to buy a home and have questions, don't hesitate to reach out to us at Hunter Galloway, where we make the home buying process stress-free and uncomplicated.
HunterGalloway, HomeBuying, RealEstate, MortgageBroker, SmallDeposit, DepositSavings, FirstTimeHomeBuyer, AustralianRealEstate, MortgageTips, InvestmentOpportunities
For more info
www.huntergalloway.com.au/
www.huntergalloway.com.au/mor...
For home loan enquiries
www.huntergalloway.com.au/con...
Find Nathan here:
www.huntergalloway.com.au/fre...
T: 1300 088 065
www.huntergalloway.com.au/con...
Hunter Galloway are an Award Winning Mortgage Broker based in Brisbane. We help clients from our local area, Australia, and all over the world. We believe buying a home should be stress-free and uncomplicated, and we will work for you to make your dreams become reality.
www.huntergalloway.com.au/con...
DISCLAIMER:
Full Disclaimer here -
www.huntergalloway.com.au/you...

Пікірлер: 5

@superpower612 8 ай бұрын

If houses are up another 100-200k in another few years then wages will have to also increased leading to higher inflation, which the RBA are no where near their targeted inflation. I personally don’t see house prices moving much over the next few years, maybe a slight gain. To see a 20-30% gain like we did during Covid will probably never happen again in our life time. What do I know though, I’m just a Gardener 😎

@lukewoodlock1600 8 ай бұрын

Look for a further 10% drop, housing is a lagging indicator and we are months away from seeing the total impact! I appreciate that these guys have vested interests in what they say, look at what they don’t focus on more then what they do….

@MortgageBrokerAustralia 8 ай бұрын

Your observations on house prices and wages bring up some interesting points. Firstly, you're right that if house prices keep rising significantly, ideally wages should also increase to keep up. However, these two don't always move in lockstep. There are times when property values go up but wages stagnate, making it harder for people to afford homes. And yes, if wages do rise significantly, that could contribute to inflation, which the Reserve Bank of Australia (RBA) closely monitors. The RBA does have targets for inflation, and high inflation could prompt them to take action, like raising interest rates. An increase in interest rates usually puts downward pressure on house prices because mortgage repayments become more expensive. Regarding your point on the recent significant gains in property prices, it's true that the market has been extraordinary in the last couple of years, fueled in part by low interest rates and government incentives. However, markets do cycle, and it would be unusual to see a repeat of the rapid gains witnessed during the Covid period anytime soon. Remember, the property market is influenced by a host of factors like economic conditions, population growth, and government policies, to name a few. Predicting its movement is challenging even for those who study it for a living. In a nutshell, while nobody can say for sure what will happen, it's always good to stay informed and perhaps consult with experts when considering a large investment like buying a home.

@superpower612 8 ай бұрын

@@MortgageBrokerAustralia appreciate your detailed reply.

@user-ir5wi4zp2j 8 ай бұрын

Hey guys can you do the Australian public a favour and tell them why you are spruking property prices when we have: • Out of control inflation in Aus. • High inflation globally • Tightening of the global money supply (Q/T) • Rising interest rates • Continuing rising inflation • A large war raging in Europe • A new war in Israel • China now in deflation, with over 20% of their youth now unemployed. (That’s hundreds of millions unemployed) • The Bricks nations fighting for their independence from the west. (Choke hold on crude oil prices, effects our CPI) • Bull whip effect from rate rises globally yet to be felt in the economy. • Germany in recession • Euro zone now in recession • N/Z in recession • US heading into recession • UK heading into recession • Australia in a per capita recession (because of immigration to dilute better our GDP) It’s funny that you two keep listening to paid economist, your both in for very hard times to come.