It has been a while since I created a blog and I thought that this time I would create one about the question that is one everyone's lips - to fix your interest rate or not?

Its a crystal ball question - wondering what are your thoughts?

Now is NOT the best time to sell so why are so many people selling?

I hear stories of people selling because they can no longer afford their mortgage repayments along with everything else that has gone up lately (petrol, personal loan interest rates, car loan interest rates, credit card interest rates and the list goes on).

QUESTION - When is the best time to buy a property?

MY ANSWER - At the bottom of the property market cycle. This means you are buying smarter - it will usually shorten the length of time for the property to increase in value for your wealth creation!

I beleive we are in a flat market at the moment and we have been kept incredibly busy with savvy investors buying property NOW.

QUESTION - if it is a buyers market then what does that mean for someone who is selling their home?

MY ANSWER - It is the worst time to be selling (unless you are UPGRADING your home to buy something worth more and therefore taking advantage of the buyers market at the same time).

So what do people do if they cannot afford their mortgage repayments any more? I would suggest that BEFORE they sell their home they explore the options of restructuring their finances. This doesnt always mean changing lender however it may just mean being a little more creative in the way your loans are set up. 

If you hear of ANYONE struggling with their mortgage payments and other debts please get them to give us a call and have an obligation free chat about ways to keep the family home AND reducing their repayments to make life a bit easier. There are all sorts of ways this can be done depending on each person's circumstances.

Selling the home may not be the answer - you still have to rent somewhere and being a tenant is not always fun- plus do you really want to be paying off somebody's else's mortgage?

Anita