The First Class Approach To Buying Property
At First Class Lifestyle, we pride ourselves on being transparent about a strategy that may give purchasers an advantage in today’s highly competitive property market. There are a growing number of families and investors who like us, believe that traditional methods of getting into the Australian property market are no longer effective for everyone.
We have partnered with deposit bond providers to help you get your foot in the property market by utilizing a deposit bond strategy. Backed by some of Australia’s largest insurance companies as an alternative to the traditional, deposit bonds can be used for a variety of situations.
So, let’s look at how this strategy as opposed to a traditional approach may deliver a greatly improved outcome for purchasers, with an example of two people, Ben and Danielle.
Both Ben and Danielle have the same income and limited savings. Ben has chosen a traditional approach to purchasing with a 10% deposit whereas Danielle has chosen to utilize one of First Class Lifestyle’s alternative deposit methods, a deposit bond.
Ben works tirelessly to save up the 10% deposit, taking on extra shifts and weekend work wherever he can. After some strict budgeting, he’s finally on track to save up the 10% within the next 2 years. Whilst he’s happy, he’s also frustrated that he is missing out on the growth in the market. Every month he saves more and more, however as he saves, the property market continues to grow and the amount required for his dream property gets bigger and bigger. His ability to save is outpaced by the growth in the market. It’s like he’s chasing after his dream on a treadmill.
Danielle on the other hand entered the market immediately, securing her brand-new home using a deposit bond. She was able to save time on hours of tedious research by purchasing from our selection of deposit bond approved properties from reputable developers. Meaning she can lock in the price of her dream home now for a small fee. Whilst she too is working hard to save a deposit, she was able to get in earlier then Ben and can also benefit from the potential equity growth over the next 2 years.
So, let’s take the time to look at what a deposit bond is, and how it can help you achieve your objectives faster. A deposit bond is an alternative to a cash deposit. It’s a contract with a 3rd party whereby they guarantee the developer that you will pay the 10% deposit when your brand-new property is finished and ready to be lived in or tenanted. The end result, is you now have time to save for your deposit but you can lock in the property price today.
Now you might be wondering why you’ve never heard of this strategy? The reason is most property developers don’t accept these on a one off basis, and as a result, this strategy is not widely known, despite the ability to deliver beneficial outcomes for purchasers.
At First Class Lifestyle we believe that you deserve a chance to own a property, and should not be limited in how you go about it. This is why we place emphasis on navigating the pathway to your dream home through the varying deposit methods available. We present you with a new way of looking at things to achieve your lifestyle goals. The information contained in this video is for information purposes only and whether this product is suitable for you will be based on your specific circumstances. Please contact us to have a chat with one of our friendly consultants today.