#myfinancialadvice property

18th Apr, 2016 | Local News

In this article:
Epping shares advice on not borrowing too much on your first home, plan for rate rises.

Craig Yew

When I was 27 and looking at buying my first home I received some great advice from a close friend who was like a second father to me.

He told me: ‘Do not borrow too much on your first home, you will be able to pay it down much quicker with a smaller loan.’

This advice literally saved me from pulling out my hair and losing my home. I saw rates rise above 18% and I was very thankful I didn’t have a large mortgage at the time.

It’s advice that has become quite handy in my day to day job today. I am the wealth manager and principal at Yellow Brick Road Epping based in the thriving North-West Sydney region.

It can be tempting to take out a large mortgage and I meet with first home buyers regularly, so I often share this advice with them.

We have you covered on all stages of your property journey