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Ahh great point Mal, thank you for the heads up.
Thank you Neil, much appreciated.
Mike
Cool, thanks for the answers guys, much appreciated. I actually thought as much but it’s always good to get confirmation.
My current loan is with the Bendigo Bank, and in hindsight, I’m pretty sure that I can be getting a way better deal than I am currently. As soon as the new mortgage exit changes come into play, I’ll have to have a look around and see what’s up.
Would Bendigo still be a good place to buy? I know that there has been steady capital growth there and I know from experience how tight the rental market is and the current demand, but there are lots of new houses being built. There are heaps of houses going up in Kangaroo Flat, Golden Square, Epsom, Junourtoun and Strathfieldsaye. Would all this new building mean that the capital appreciation will start to slow significantly and that the rental market will ease as there are more properties available?
Yeah, I had a feeling that was the case. The main reason for me double checking was that I can sometimes be a bit quick to jump to conclusions and am very enthusiastic by nature, meaning that I don't always think things through as well as I could. And given the investment size of buying property, I thought double checking might be a pretty good idea, heh.
I'm hoping that the value of my PPOR increases once the build is finished – I've been told that a new house increases in value by 10% the minute that you unlock the front door. If that actually has any truth to it, the equity I'll gain just by having it finished might mean that I can get in early AND avoid LMI and other fees.
