In this episode, Tim from Nexus Money discusses a possible strategy of taking out a new valuation of one’s property to determine if there is any equity available for borrowing against.
Tim suggests using available equity to increase the deposit for a future property purchase, lowering the cost of mortgage insurance and other expenses. He also mentions that it may be a good idea to access this equity now, while property values are still high, in case they decrease in the future.
Tim recommends talking to a broker or bank to determine the best course of action for your individual circumstances. Every situation is different and a professional assessment will help you understand what’s available to you.
At Pure Real Estate, we specialise in managing residential properties. If you are interested in learning more about our property management services, please don’t hesitate to reach out.
Thinking about using your property equity? Talk to Pure Real Estate about how professional property management can help you maximise the value of your Brisbane portfolio.