Here in Adelaide with the interest rates so low at the moment its a great time to be purchasing a house. The RBA of Australia this week has cut the interest rate to a all time record low of 1.75 % and there is a 70% chance that the RBA of Australia will cut it it once more to 1.50 %. You all probably thinking what does this mean to us? Well this basically means that the main banks interest rates are going to stay low for a long time yet until the countries finances get back on track, which might not be for a few years yet. The interest rate cut is a big advantage for first home buyers who are looking to get into the market and have affordability. This will help produce jobs within Australia with a weak dollar making the export industry much more affordable to foreign investors and buyers.
What you need to know when buying a house. When buying you want to focus on affordability and focus on what the future has to hold. Just because the rates are low at present you don’t want to jump into the deep end, because when they start to rise again put yourself in a position where you can’t afford it. Always when buying a house get a building and pest inspection done, if you don’t want a pest inspection at-least get yourself a building inspection. When buying you want to make sure the investment you are purchasing won’t bring you grief down the track. Houses may look find but think again, what you can’t see is generally the killer! So when purchasing make sure that you hire a qualified building inspector. Not a inspector who has opened up a business and worked in a factory previously or a inspector who was previously a officer worker in South Australia there is no requirement for building inspectors to be licence builders or even have a building background you don’t want these sort of people doing a building inspection on your property you mise well do the building inspection yourself then. DONT BE SHY to ask your building inspector what are his qualifications, and skills. Ask the building inspector for his builders licence number so you can check it on the internet simply just write into a search engine ” builders licence check sa” and it will simply bring you to a page, where you can check everyone’s builders licence if they have one or not and what their qualifications detail.
South Australia is a young state there is so much room to grow. Buy now while the house prices in the area you want to live in are affordable. Don’t leave it to late and say damn i wish i bought in that area previously. Take advantage of the low interest rates at the moment before the RBA decides to put them back up. Three things you need to do when buying a house. Look for a house that you can afford. Look for a house where the area has potential, and last make sure you get a building inspection done, building inspections Adelaide is a very important thing when buying for you own peace of mind.