Paying off your home loan sooner can save you a significant amount of money in interest and help you achieve financial freedom faster. But the key is to control the controllables. Most of us hope and pray that interest rates will come down, that we'll get a pay rise, or that we'll have money left over each month. But relying on external factors won't get you ahead.Ready to take control of your financial future? Keep reading to discover three powerful strategies that can help you pay off your hom...

With the Reserve Bank of Australia (RBA) cutting the cash rate, interest rates have come down. So, is now a good time to buy property? The answer depends on your unique circumstances and goals, but it’s always best to get a leg up on the property ladder sooner rather than later. Here are some compelling reasons to consider jumping right in.Competitive interest ratesIn February, the central bank lowered the cash rate from a 13-year high of 4.35% to 4.10%. Many lenders, including Australia’...

When purchasing a property in Melbourne, especially an apartment, townhouse, or unit, it's crucial to consider ongoing costs beyond your mortgage repayments. One key expense is strata fees, which cover the maintenance and management of shared spaces within the complex. Understanding these fees will help you budget effectively and avoid surprises down the track.What are strata fees?Strata fees, also known as body corporate fees, are contributions made by property owners in a strata-titled build...

When buying a home, it's not uncommon for properties to sell for more than expected. However, most homes sell for what is considered their 'fair market value'. Understanding this concept and the factors that influence it can help you make a more informed decision.What is property market value?The 'market value' of a property is the price it would sell for in the current market. This value isn't fixed; it's a range influenced by various factors. Sellers aim for the highest possible price, while buyer...

The Reserve Bank of Australia (RBA) has cut the cash rate, and more cuts are expected in 2025. All big four banks anticipate at least two cuts this year, with some predicting up to five reductions. So, should borrowers choose a variable home loan rate, a fixed one, or a split rate? The answer depends on your priorities.Understanding your options:Variable home loansA variable home loan rate moves up and down with market interest rates. If the RBA cuts the cash rate again in 2025, your lender m...