{"id":5212,"date":"2023-02-23T08:28:37","date_gmt":"2023-02-22T22:28:37","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5212"},"modified":"2023-02-23T08:28:37","modified_gmt":"2023-02-22T22:28:37","slug":"take-the-heat-off-rate-hike-fears-with-these-4-tips-for-buyers","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/take-the-heat-off-rate-hike-fears-with-these-4-tips-for-buyers\/","title":{"rendered":"Take the heat off rate hike fears with these 4 tips for buyers"},"content":{"rendered":"
As you\u2019ve probably seen in the news, the Reserve Bank of Australia (RBA) has increased the official cash rate from 0.10% to 3.35% in just nine months.<\/p>\n It\u2019s now the highest it\u2019s been since September 2012 \u2013 so it\u2019s only natural to feel a bit hesitant about buying property right now.<\/p>\n But rest assured with the right buying strategies in place, you can navigate rate hikes and mitigate potential financial stress.<\/p>\n Get to know your borrowing capacity, and consider leaving yourself a bit of a buffer by purchasing under the maximum amount.<\/p>\n That\u2019s because over the many years it takes to pay off a home loan, your financial or personal circumstances may change, and interest rates could rise further.<\/p>\n Buying a bit under your capacity allows you to create a financial buffer to adjust and adapt to any unforeseen changes.<\/p>\n We can help you calculate your borrowing capacity before you start house hunting \u2013 so you don\u2019t fall in love with a place that could create more financial stress than it\u2019s worth.<\/p>\n With rising interest rates and inflation, there\u2019s been a softening of the market and this may reward those who are ready to buy now.<\/p>\nHave recent rate hikes made you nervous about taking the plunge into the property market? You\u2019re not alone; it\u2019s a buyer\u2019s market for a reason. Here\u2019s how to stay cool and calm when buying your next property.\u00a0<\/strong><\/p>\n
1. Know your borrowing capacity<\/h3>\n
2. Take advantage of it being a buyer\u2019s market<\/h3>\n