Will buying a second home be easier?

Do you want to grow your property portfolio and create a rental income?

Perhaps you have a young family and you are thinking ahead to which schools you would like your kids to attend.

Maybe the initial cosiness of your first home has gradually been replaced by the feeling of the walls closing in and the dream of more space has taken hold of you.

Or perhaps all three! These are all possible reasons to get back into the home buying game and find a second property.

Chances are that the second time around, it will be quite a different experience.

After all, you've been there and done that with your first home loan and house.

Any gains in income will have increased your borrowing power, as will the equity you have built up in your property.

Property investment loans can help you take advantage of the growing stake you are building in the asset you live in to start a property portfolio or expand an existing one.

A rental income can help to pay the mortgage of a second property – a good way to look at it is the renters are helping you save for your retirement!

Being a landlord can also mean being responsible for property maintenance and repairs, as well as dealing with tenants.

So it pays to think through the ramifications of entering the rental market.

If you simply plan on selling your current home and moving to a bigger or better one, your next best friend apart from your equity will be time.

With a roof already over your head, you don't have to rush or settle for what is available on the market right now.

This can empower you to be bold when negotiating or give you the confidence to wait until the right deal comes along!