It sounds like a bit of a pun but honestly, if you are trying to save for your future retirement you can’t go past paying a mortgage off. Once you have one mortgage paid off you can move onto the next and the next. The truly dedicated amongst us have paid large mortgages off in less than five years.
Now, some may say that you never pay your mortgage off and that can be true for these people. This is usually because we spend more than we can afford so we are forever dipping into our “savings” to pay off our debt. Savings in this case being the amount we have in credit on said mortgage.
Why Do We Need A Mortgage?
The sad truth is that unless you win the lotto or inherit a large sum of money you are going to need to get a mortgage if you want to buy a property of any kind. Think of it like paying rent for the next 30 years up front! The upside to this is you pay the SAME rent for the next 30 years as well. No annual increases! The huge, huge bonus is that you own the place up front too. This means you can add improvements of all kinds to not only create a more comfortable home for yourself and your family, but it also means that your improvements will pay you dividends if and when you decide to sell.
Doing improvements on a home you own is a win-win situation. You get to reap the rewards of the improvements yourself and relax knowing that your bottom line is also increasing.When you add to the equation the fact that real estate will grow in value all on its own, you can see how adding improvements will jettison your returns to the moon and back.
Let Us Show You How
Prudential Real Estate are the market leaders in all things property in Sydney’s North West. We have five offices spanning this large area with our latest jewel in the crown being our Narellan office that opened in 2015. Every year we co-ordinate the sale and transfer of 500 properties. That is a lot of experience and know how. We understand the market, its ebbs and flows, as well as how to catch that run down dilapidated bargain and turn it into something special. We can also direct you to value for money properties that don’t need any attention at all, apart from your willingness to keep it looking as good as it did when you bought it. Come visit with our friendly staff and you will see for yourself why we are so successful.
