Welcome Home! Why purchase a property in 2019?
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2019 The Year to Purchase Your First Property?

The Australian dream varies from person to person. Whilst dreams for some can be nightmares for others, one aspect of the dream seems to be universal. Home ownership. To be the King or Queen of one’s castle has long been the vision of the hard-working Australian. Saving for a deposit and contacting a reputable lender, like Newcastle Permanent, for the best home loan rates is almost a rite of passage for first home buyers.

Much time can be devoted to comparing home loans, finding the best rates and making sure you get the absolute best deal possible. But is it all worth it? The scrimping and saving, the long days spent viewing properties, the heartache when ‘the one’ is bought out from underneath you. Is buying a home in Australia in 2019 still a smart choice?

Proven track record

The history of Australia’s property market says yes! Homeowners for decades have been reaping the rewards of home ownership. Property has traditionally been one of the safest investments and that still holds true today. Whilst our country (and indeed the world) has seen tumultuous times with unease surrounding the health of our economy, the housing market continues to buck the trend and climb in value. Even a royal commission into banking practices and some less than legal home loan lending hasn’t stifled growth in the housing market.

Tangible

To some it may be hard to find a correlation between “home” and “investment’. After all, this is a home to be lived in not some numbers in a spreadsheet. The inherently ‘real’ nature of property is perhaps its best attribute for a potential buyer. Unlike many other investments, you can feel a home’s character, you can stroll the surrounding streets and become part of the immediate community. The tangible nature of property welcomes everyone from all walks of life to make informed and personal decisions when investing in a home.

Get into gear(ing)

Save for a deposit. Compare home loan rates and then chose a home loan from a local lender like NPBS. Buy the dream property and live happily ever after. Simple right? It can be! But for those willing to get a bit craftier, a property can be rented out to generate income. Australia’s current tax system offers the savvy investor the option to take out a home loan, rent out the property and claim back any losses against their taxable income. Pretty clever right? A deeper explanation of negative gearing and the advantages that it offers is outside the scope of this article, suffice to say a decent share of Australians have been enjoying the benefits of negative gearing for decades and with a little home loan comparison, you can too.

Where dreams are made

All this talk of home loans, tax deductions and “the economy” might make some people’s eyes glaze over, and it does tend to distract from the most joyous aspects of home ownership. A home is a symbol of stability and growth, a place where you can unwind and relax. A home can be a shelter from hardships and a grow bed for bigger ventures. Most of all, a home is a place for you and your family to plant your roots and create a lifetime of memories. Yes, a home might be a sound financial investment, but the emotional benefits cannot be overstated.

The Australian property market has seen extraordinary (and often controversial) growth in the last two decades. With talk of booms and busts frequently wafting into our collective consciousness. The financial benefits of owning a home are numerous and the allure of owning something “real” has made investors out of many Australians. It would appear the road to home ownership has become steeper as values increase, but the Australian dream of owning your own home is alive and well in 2019.

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