Home, sweet home ownership: All you need to know

Estimated reading time
 5 min

In this article

• Save the deposit for buying your first home
• Buy an investment property and watch your wealth grow
• Understand all things home loan refinance to score a better deal
• Work out if selling your home is the right thing for you

Home isn’t just a place, it’s a feeling. And there’s no better feeling than knowing you’re all over it when it comes to the financial side of things.

Of course, no two home ownership journeys will look the same. Whether you’re looking to buy for the first time, add to an existing portfolio, or nab a beaut block and start from scratch, there are some key areas of home ownership we can help you unpack to get you there sooner. So, whenever you’re ready, open the door to our no fuss guide to everything from buying or refinancing to renovating and selling your home-sweet-home.

Buying your first home

Let’s say you’ve been smashing your savings goals by clicking ‘close cart’ and hitting the op shops instead. Or maybe you’ve put off a big European trip to tick off a different financial goal – maybe your home-buying goal? Saving for your deposit is huge, but there’s more than just money to think about before you can turn the keys in your very own front door.

Depending on where you’re at, you might be thinking about the right location and property type for you, wondering how to get yourself auction fit, or looking to understand how interest rates can affect your borrowing power. Whichever way you slice it, there’s a lot to unpack before you can, well, unpack in your new home. And even some hidden costs  you may not have considered.

Read more about buying your first home here.

A guide to your dream home makeover

Whether you’re thinking of donning the overalls and making some design improvements yourself, or getting the professionals involved, there are some pretty important things to consider before you renovate. Whether you’ve bought yourself a full-blown ‘fixer-upper’, or you think a few touch-ups could take your home from drab to fab, some simple budget hacks could end up saving you a heap in the end. And if you’re not sure where to begin, it always pays to start with the most fun part and find your style based on current trends.

Read more about financing home renovations here.

Why not refinance your home loan?

If you’ve been a homeowner for a while now or things in your budget have changed, it might be time to look into refinancing. While most people think of refinancing as switching lenders, this isn’t always the case – it simply involves restructuring your loan to one that better suit your new circumstances - ideally to get a lower interest rate or more cost-effective package to reduce your repayments (which likely has a positive impact on your borrowing power).

If you’re wondering whether there’s a better loan out there for you, there’s some things to consider before you decide if refinancing or restructuring your loan is the right move.

Read more about refinancing your home loan here.

Start your investment property portfolio

If you’re looking to add ‘investor’ to your already impressive list of qualifications, the real estate market is where it’s at. Buying an investment property can be a low-risk option with countless benefits, like giving you the keys to passive income.

It’s still a huge commitment of course, and as with any big investment, it comes with risks. So, it pays to consider some of the big questions before you go making a deal.

Read more about property investment here.

Should you stay or should you sell?

Wondering if you’re ready to plant a ‘for sale’ sign next to your letterbox? Maybe you’re bursting at the seams and need to upsize, or the market just feels, right, you know? There are so many reasons to think about selling, but it can feel impossible to sort through the pros and cons. The first step is to look at why you might want to sell your home and work out if now is the time to do it.

At ANZ, we’re here to get you ‘sell ready’ and to help answer some of the big questions that could be stopping you from taking the leap.