Even if we don’t like to admit it, we all know that the world is run by money. Each person strives to save money to allow themselves the luxuries in life that they desire and to secure their future for themselves and their families. Money can be slippery though and with economic downturns being a constant possibility, it’s important to load your savings into conservative stores of value. While you may choose to indulge in the investment of a celebrated artwork or in diamond encrusted gold chains, it’s probably a more viable idea to consider purchasing property. Real estate is usually the largest financial outlay of your life, so you might want to consult a first home buyers guide to help you get your first house.
While many purchase art for the walls of their home and gold for the bangles around their wrists, both art and gold serve as particularly good conservative stores of value. Art and Gold maintains its value overtime and adapts accordingly to finical changes across the world. While the value of the Australian dollar, stocks and bonds may decline, both Art and Gold’s prices increase in response to such financial challenges. While they’re may be short term fluctuations in the price of these commodities, many turn to gold as an investment due to it maintaining its value in the long term and its seeming immunity against inflation and other such economic factors.
One of the most common investments that people go for is in the form of a family home. Purchasing a home is a long term stake in your financial future. Having a home as your investment oozes benefits that commodities such as Art and Gold don’t offer. When buying a house, you are able to gain equity, control and take advantage of tax benefits. With the cost of homes in Sydney sitting in the low millions, it is a huge burden to even consider buying a home, especially if it is your first time. Before looking to buy a home, you need to bank a dependable amount of savings. To fast track this, opening accounts that have a high interest return can help you add to your savings for no extra work. Newcastle Permanent’s Smart Saver Account which has a 2.4%PA interest rate and no monthly account keeping fees to trick you!
It’s Only Getting Better!
As the population increases across Australia, the demand for property is continually rising. Cities are expanding and the prices for homes steadily climbing, the sooner you can acquire a property, the better. By securing your own home, you can be sure that your investment will increase in value, providing a very secure nest egg that will carry on throughout generations. When it comes to buying your first home, Newcastle Permanent is here to help. Offering a Family Guarantee scheme, your immediate family can provide the lender with a deal which allows you to borrow up to 100% of the value of the property and is only limited to a part of your loan, not the full amount borrowed.
Establishing life savings takes an incredible amount of hard work for many of us. With the threat of economic decline posing a risk to this hard work, investments can give you peace of mind and a sense of security when it comes to your funds. While investing in commodities such as Art or Gold is a common practice, there is much more benefits to be had from investing in property. With a quality buying guide and competitive rates offered by Newcastle Permanent’s home loans, you can take the first step to owning your home and securing you and your family’s future.