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7 Property resolutions to make and stick to in 2018

Here at Lendi we are determined to make the most of 2018, that's why we have compiled a list of easy to accomplish resolutions that will have you achieving your property goals in no time and make saving second nature.

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1. Do your property market homework

Coming into the New Year is a great excuse to start schooling yourself on the property market. Whether you anticipate a move, investment or possible renovation, it could be beneficial for you to keep an eye on the market. Knowing what areas are booming and which are in decline can help you identify possible opportunities for the future.

You can learn more about researching the property market here.

2. Develop a budget and financial goals

This may seem obvious, but developing a budget can boost savings and help identify any unnecessary spending. Yours truly recently realised that I was paying for a music subscription service I had not used in months. It can be easy for things to slip under the radar, hence why organising a clear structure can be beneficial. Financial goals can also be advantageous as it makes your savings target clear and can be a helpful reminder when you are tempted to splurge.

Read our guide on how to keep your financial planning on track.

budget-computer

3. Save energy

There are plenty of easy ways to save power that may not seem obvious at first. Turning off powerpoints when they are not being used, turning off lights when no one is in the room, swapping light bulbs for more eco-friendly light bulbs and installing a water saving showerhead. Read our list of 10 ways to save energy at home.

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4. Be a good landlord

If you have a good tenant, then try to be a good landlord. Good tenants can be hard to find, and sometimes you won't appreciate good tenants until they’re gone. You can keep your tenant happy by considering their requests, being understanding and fixing anything that's broken immediately. This should result in regular rent payments and (hopefully) no trouble. While it may not seem like you’re saving in the present moment, you could be avoiding extra hassle later on.

hand-coins-house

5. Start saving properly

This may go hand in hand with your budget and financial goals, but establishing a good savings routine can assist you in saving a significant amount of money by this time next year. This can mean opening a savings account that does not allow regular withdrawals so you are not tempted to dip in. Read more about saving for a property deposit here.

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6. Make sure you’re getting the best deal you can

Interest rates change all the time and many financially savvy savers make sure to regularly keep an eye on best rates on the market. You can make sure you are getting the best deal by comparing your rate with more than 35 Australian lenders in seconds here.

couple-good-deal

7. Make extra repayments

If you can, making extra repayments can be a great way to reduce the amount of interest you pay your lender. Firstly, check that your loan allows you to to make extra payments. If the answer is no, chat with us. Our Home Loan Specialists can evaluate if it's worth you switching to a more flexible loan option.

How much can you save with an offset account?

Find out how much you could save each month.

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For tips on making resolutions stick in other parts of your life this year, find some health and lifestyle inspiration here.

Tags: investment property, saving, additional repayment

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Important legal stuff

COMPARISON RATE WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
Lendi is the trading name of Lendi Pty Ltd, a related body corporate of your licensed credit assistance provider, Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence Number 442372). We will never sell your email address to any third party or send you nasty spam, promise.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
Lendi is a privately owned and operated Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of major and non-bank lenders including Click Loans which is a wholly owned subsidiary of Auscred Pty Ltd and a related body corporate of Auscred Services, your credit assistance provider. Although Lendi compares over 1600 products from over 30 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 40% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors. We have an independent and founder led board.
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