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Should you pay off your home or buy an investment property?

Better Loan Solutions in Mornington PeninsulaLearning CentreInsights


Should you pay off your home or buy an investment property? 


When it comes to property, there is no one right way of doing things. After a few years of property ownership, homeowners will often think about what they should do with the equity they’ve built up. In particular, they often consider expanding their property portfolio.


However, that thought bubble often appears as they are trying to pay down their mortgage on their home. Both options have their own set of advantages and disadvantages, and the decision ultimately depends on your personal financial goals and risk tolerance.


Here are the pros and cons of both paths.

  

Paying off your mortgage


PROS

Did you know

With our in-house mortgage broking division we bridge the gap between the countless phone calls and emails between lender and accountant making your refinancing and borrowing much less stressful.

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CONS 




Buying an investment property


PROS 



CONS


We do the hard work, so you don't have to.

Staying with the same lender for convenience can lead to higher fees and interest. Regularly reviewing your mortgage and comparing products with the help of your broker can ensure you avoid unnecessary costs.

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