well I would be waiting till interest rates hit the bottom. When the RBA shows signs of increasing them again I think that would be a good time to buy and lock in a fixed rate.
I/we can only afford something around the 300k mark and these are my thoughts:
in melbourne (depending on where) this seems to be a good entry point. I have heard how a property that was sold for about 340k in Jan are now selling for about 320k so - yes prices may continue to decrease but if I wait a while till the situation above, it could be the turning point for the economy/sentiment etc
My other thought is this:
lets say for example that I'm paying 300 a week in rent. if my mortgage repayments are 300 a week (due to low rate, not very big loan) wouldn't I be better of in owning a property instead of paying rent? (Aside from the additional costs of owning a property) To be honest I can't see rents even decreasing, at the very least they would be maintained at the current level. Am I missing some logic in this line of thinking?
- Forums
- Property
- what is the lowest rate
what is the lowest rate, page-4
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online