Why NOW is the perfect time to build

There are many factors that contribute to making the decision to build a house, but underpinning all other decisions should be your financial security.

If you’ve been paying attention to the news lately, you’ll know that interest rates are now at a record low after the Reserve Bank of Australia cut them earlier this month.

With rates at 1.75 per cent, the banks are beginning to pass along the cuts, meaning there’s never been a better time for you to build, whether it’s your first home or a new home.

Which banks are cutting interest rates?

The big four banks – National Australia Bank (NAB), Commonwealth Bank of Australia, Westpac Banking Corp and Australia and New Zealand Banking Group (ANZ) – have all agreed to cut variable home loan rates. Starting this month, these banks will begin rolling out their all-time low rates, check out when your bank’s cuts will take effect here.

What you’ll save

According to Canstar, the typical homeowner will save $72 a month on a $500,000 loan. This brings the average standard variable home loan rate down to 4.52 per cent. For those taking a $300,000 home loan, the cuts will push the variable home loan rate down to 4.4 per cent, introducing a saving of $44 a month.

Now, these savings may not seem like much, but they definitely allow extra breathing room for the bulk of home buyers who are looking to have a larger mortgage. For those who are first home buyers, these savings mean repayments will be similar to rental payments, meaning you won’t be paying “ridiculously above what (you’re) paying in rent” for your repayments.

Things to consider

There’s a few things to consider before diving in. Although the rates are low now, it’s inevitable the rates will fluctuate. While it is possible rates will continue to drop, they will eventually rise. First home buyers should make sure that they can afford repayments even if the rates were to rise.

If you want to make the most of the all-time low interest rates, now’s the time to start talking to Achieve Homes about securing your new home. Achieve Homes offer a whole range of home designs and house and land packages fit for almost any budget.

Disclaimer:  This information does not constitute financial advice and you should speak to a qualified financial advisor and your bank about your individual financial circumstances before buying a property.

Related Items

+

What’s holding your house up?

+

New Home Buyer’s Guide: Questions to ask a builder.

+

Get The Best Sales Price For Your Home

REQUEST A CALLBACK

  • David & Sophie / Googong

    We just checked in with our valued customers, David & Sophie, who just built their new family home in Googong! Check out what they had...
    Read more
  • Danny & Nikki / Ginninderry

    Danny & Nikki, our terrific customers, just built their brand new home in Ginninderry! Check out what they had to say about why they chose...
    Read more
  • Emma & Alex / Googong

    Our valued customers, Emma & Alex just moved into their brand new home in Googong, NSW. Check out what they had to say about their...
    Read more
  • Kerri / Googong

    Check out what our lovely client, Kerri had to say about why she decided to build a new home in Googong instead of buying an...
    Read more
  • TANIA & DANIEL / SCULLIN

    We recently checked in with our valued clients, Tania & Daniel, at their brand new home in Scullin, ACT. Take a listen to what they...
    Read more
  • Kate / Holt

    We recently caught up with our valued client, Kate, at her brand new home in Holt, ACT. Take a look at what she had to...
    Read more

LATEST NEWS

What To Do When Buying a House?

Buying a house can be one of the most daunting experiences in your life; there are so many factors to consider and ensuring you are...

Read More

Cheapest Suburbs To Buy In Melbourne

Are you searching for the cheapest suburbs to buy in Melbourne for your new home? While the price is a major factor in your choice...

Read More

How To Choose A Home Builder ?

Building your dream home can be a challenge; however, selecting a new home builder with the experience, custom designs, and a quality reputation is simple...

Read More

Our Awards

  • HIA ACT & SOUTHERN NSW REGION AFFORDABLE HOME

  • JUDGES RECOMMENDATION FOR WORK HEALTH & SAFETY

  • HIA ACT & SOUTHERN NSW TOWNHOUSE/VILLA DEVELOPMENT OF THE YEAR – LAWSON

  • HIA (ACT) AFFORDABLE HOUSING

  • HIA (ACT) PROFESSIONAL MEDIUM BUILDER/RENOVATOR

  • MBA (ACT) PROJECT HOMES – LESS THAN $300,000

Achieve Homes is a home building company that has become one of the most trusted builders in the industry operating in Canberra, surrounding NSW region and Melbourne. We have been operating since 2008 and understand what our customers want.

Keep in touch

Contact

Address
15/9 Beaconsfield Street
Fyshwick, ACT 2609

9/20 Graduate Road
Bundoora, VIC 3083

Phone
1300 234 432

ABN 31 137 872 014
ACT BL No 2009645
NSW BL No 224797C
VIC ABN 41 608 214 375
VIC BL No CDB-U 61982

© 2019 Achieve Homes All Rights Reserved | Site Created By 23 Creative