Property expert Chris Gray says that the way to save more pennies is to concentrate on buying better.
As a property investor for more than a decade, I’ve taken out dozens of mortgages. It might surprise you, but I’ve never really spent much time sourcing the lowest interest rates, admin fees or best add-ons such as offset or redraw accounts. Instead, I’ve always focussed on buying well and being able to buy more property – and have long advocated this strategy to other home buyers and investors.
Increasing property prices, rising interest rates and declining housing affordability have many young people worried whether they will ever be able to buy a house.
Thousands of renters have been priced out of the home ownership market and fear a lifetime of paying to reduce someone else’s mortgage, while many young adults continue living in their family home largely because they can’t afford to move out.