Buying A House With Half A Mortgage

I know, it seems insane, buy­ing a house with half a mort­gage! As amaz­ing as this might sound, it is very attain­able. Home Addressed, has found cre­at­ive ways for people who are priced out of the mar­ket to become homeowners.

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Ima­gine, liv­ing in a share house, think­ing that this is your hous­ing future. Accord­ing to recent Aus­tralian Bur­eau of Stat­ist­ics fig­ures, it takes 5.8 years for the aver­age home­buyer to save a 20% home deposit. By that time, the aver­age buyer is in his/her mid to late 30s. What if you could cut this time in half? Why not con­sider co-buying? Why not put it to your house­mate to pool your funds and buy a prop­erty together? Instantly, the pro­pos­i­tion of becom­ing a homeowner becomes attain­able. If you can’t find any­one with whom to team up, the Home Addressed site has people on the data­base who are ready, will­ing and able to buy with a co-buddy. Make con­tact and see if you are suit­able co-buying part­ners. Regis­tra­tion is free.

 

You may want to buy with a brother, sis­ter, cousin or friend; it really doesn’t mat­ter as long as you have a legal agree­ment between you to ensure that things don’t go wrong. Home Addressed has an agree­ment that can be pur­chased online cost­ing a frac­tion of the cost charged by a law­yer. It is strongly advised that you have a co-ownership agree­ment if you are con­tem­plat­ing a co-buying structure.

 

Once you have pur­chased your house, you will only need to pay half of the mort­gage, half of the bills, half of the repairs, half of everything! This is a speedy and smart path to home own­er­ship. It need not be for a life­time, a couple of years, then using the equity in the house, buy another or sell and use the pro­ceeds to buy your own house. It simply makes sense!

 

Home Addressed has a num­ber of strategies to assist pro­spect­ive home buy­ers to save for a deposit too: co-tenancy, housesit­ting and homestay. The site also offers altern­at­ive ways of buy­ing realestate such as vendor fin­anced deposit, to get you into the mar­ket even faster.

 

Home own­er­ship need not be fraught with dif­fi­culties and a sense of doom. Home Addressed has solu­tions and is determ­ined to help you over­come the obstacles to home ownership.

 

Let’s take an example of a house that has been lis­ted on the local mar­ket: Seven Hills. Your oppor­tun­ity to fast track into your own home hap­pens 6th July in sen­sa­tional Seven Hills. 41 Veron­ica Cres­cent fea­tures 5 bed­rooms! That’s per­fect for co-buyers, live in 2 and rent the oth­ers to quickly shrink your mortgage.

Seven Hills. 41 Veronica Crescent features 5 bedrooms

Ima­gine this…you buy the house with half a mort­gage and then you rent out 3 rooms…will you have monthly mort­gage pay­ments? Prob­ably not. Once you have paid down the mort­gage, start renov­at­ing. This house is PERFECT for value adding. If you ren­ov­ate, the pos­sib­il­ity of accel­er­at­ing cap­ital growth will be astronomical!

 

So now that your future is securely mapped out, find your co-buyer, go see your bank man­ager and make your win­ning bid

 

Let’s find out what Seven Hills res­id­ents are say­ing about their sub­urb:

Let’s find out what Seven Hills residents are saying about their suburb

About 

Dianne Fer­rara is the co-founder of Home Addressed.
Home Addressed is an innov­at­ive web­site offer­ing hope to would-be home­buy­ers who have all but given up hope of home own­er­ship. The strategies and prac­tical solu­tions provided by Home Addressed have been tried and tested by Dianne and what’s more, they work.
Dianne is com­mit­ted and determ­ined to help­ing Aus­sies reclaim the great Aus­tralian dream…their own home.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia