Aussie home owners turning to professionals for confidence
Did you know that around half of Australian next home buyers struggle with important home financial concepts?
New findings from Westpac’s latest Home Ownership report revealed a few alarming facts about next home buyers, including:
- 56% admitted they fear purchasing at auction
- 49% did not know exactly what equity is
- 48% did not know exactly what an offset account is
- 41% did not know exactly what refinancing is
Considering next home buyers have already gone through the process, you would think they might already know this stuff?
However, the report did go on to reveal that eight in ten next home buyers are taking steps to better educate themselves on home financing before they begin their home ownership journey.
Scott Durrant, director and Sydney mortgage broker of Successful Ways, highlights how important education is for home buyers.
“Similar to any major purchase in your life, you want to be informed and thankfully there are professionals out there to help you bridge the gaps. The hardest part is taking the first step and acknowledging you sometimes need some extra help”
More home buyers are seeking expert advice
Of the 1,479 Australians surveyed, an overwhelming number (73%) of next home buyers are turning to professionals to better understand what is involved with buying and financing a home.
What this means is, most home buyers are recognising the benefit of seeking help to plug their own knowledge gaps, and this isn’t the first time.
“Arming yourself with knowledge is the key to making better decisions in the long run” commented Scott.
Doing your research is key to understanding the concepts of buying a home, but you can save yourself a lot of time by hearing it straight from a trusted expert.
Whether you are a first home buyer or a next home buyer, why not find out how one short course can make all the difference.
Scott has been running courses for First Home Buyers for over 15 years, making the courses Australia’s longest-running source of information for home buyers.
Helpful resources for next home buyers
There are so many resources available to you, why not make use of them? Have a look here:
- How to purchase at auction
- What is equity or what is an offset account?
- What is home loan refinancing?
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