Saturday, March 17, 2018

Buying a home is exciting and daunting

sadviser May 16, 2012

HELP FOR HOMEBUYERS… GMCU offers a comprehensive range of competitive home loans. Pictured, GMCU Operations Manager, Peter Thomas can help you achieve your dream of building your own home. Photo: Lisa Nardella.MANY Australians have created wealth, a better lifestyle and security in retirement through the purchase of quality property.
According to Peter Thomas, Operations Manager at GMCU, “Buying a residential property requires commitment, discipline and planning. Don’t rush in – it is a choice that is likely to affect your life for years or even decades.
“There is no simple formula, but proper research now is likely to pay off tomorrow and beyond.”
Mr Thomas added, “Interest rates are quite low at the moment and GMCU offers a comprehensive range of competitive home loans.
“We have lenders throughout central Victoria who have years of experience assisting people buy homes.
“And importantly, we are a credit union so we are very focused on helping our members to achieve their goals, rather than just processing a number.”
GMCU has branches throughout central Victoria, each with experienced lenders who can help homebuyers with their choices, including branches in Shepparton, Mooroopna, Kyabram and Echuca. GMCU can be contacted on 5821 9033 or at

What you need to ask yourself before you buy:

What type of property do I want?
Consider if you want a freestanding home, a townhouse or unit. Should you buy a new or established home? How many bedrooms are required – and how big should they be?
Are extras such as pools, a home office and ensuite required?
Where do I want the property to be? Consider what your preferred areas are and what do you want to be near – schools, transport, work?
How much can I spend?
The first part of this question is: how much can you afford to repay?  The second part is: how much do I need for costs and a deposit? Your lender will be able to help you work through some scenarios.