With an ongoing focus on interest rates, now could be the perfect time to make some clever and practical changes to your finances and learn how to prepare for any further fluctuations with our helpful tips.
Assess your budget
Now is an ideal time to look at your finances and take stock of your expenses.
Creating a written copy of your spending habits to keep track of and highlight any behaviours can be a great way to note any negative patterns. Assess your current weekly or monthly costs and note the areas you can limit spending.
Super v Mortgage? Where should you put surplus cash?
The last 18 months have highlighted the importance of future-proofing your financial security. But if you’re lucky enough to have a little cash left in the bank at the end of each month, working out the best place to put it can be confusing.
Aside from depositing it into a savings account, most of us will choose to pay down our home loan or top up our superannuation.
For individual homeowners, a mortgage is often their single largest source of debt and has the greatest effect on their finances, and their ability to stay solvent through wage decreases or wage losses. For lenders, mortgages are typically the most significant asset on their retail banking book, which means that any changes in originations, repayment schedules, and default rates will have significant impacts on their profitability and liquidity.
Great news for those still looking to build with the announcement on 29 November that the HomeBuilder scheme, which provides grants for home builders and renovators has been extended to 31 March 2021. The extension is expected to see a further 15,000 construction projects under the scheme.
Heard about the Australian Government’s new HomeBuilder grant scheme, but not sure if you qualify or fully understand what it means for you?
To help, we’ve pulled together answers to some of the most frequently asked questions about the scheme, so you can work out if you qualify.
What is it?
HomeBuilder is a time-limited, tax-free grant program intended to help the residential construction market get through the Coronavirus pandemic. If you're building or renovating your home, you can receive a grant of $25,000 under the scheme.
Heard about the Australian Government’s new first home buyer deposit scheme, but not sure if you qualify or completely understand what it means for you? To help you, we’ve pulled together a brief overview of the Scheme and provided some useful links to help you on your way to home ownership a little more quickly.
City, suburb, north, south, east or west, so many decisions? We obviously think west is best and that Modeina has everything a busy lifestyle requires with future schools, transport, shopping, an abundance of nature, all within a short distance. And with the knowledge that you’re choosing a community that has been designed and developed by a trusted leader in the Australian property industry, the Dennis Family Corporation.
