Estimate your budget before you search
Understanding your purchasing power gives you a clear and realistic budget for your next home or investment property.
Working this out before you begin your property search can save you time, help you focus on relevant opportunities and put you in a stronger position to act when the right property becomes available. Use the calculator below to find out your potential purchasing capacity.
Your property budget should be more than the sale price
It’s about more than the price you can offer. It should take into account the funds available for your deposit, any usable equity, upfront buying costs and the amount you want to keep in reserve. If you’re investing, you’ll also need to consider how the purchase fits with your property strategy and your capacity to manage ongoing holding costs.
Setting your budget early can make the buying process more efficient and reduce the risk of stretching your finances too far. It can also help you assess whether a potential purchase gives you enough flexibility for other priorities, future plans or the next stage of your investment journey.
The right budget will look different for every buyer. You may be preparing to purchase your first home, upgrading to suit your changing needs, buying your first investment property or continuing to build your portfolio. Whatever stage you’re at, your purchasing power should be considered alongside your personal goals, property strategy and the level of financial flexibility you want.
Use the purchasing power calculator above as a starting point to estimate your budget. You can then work with your finance broker to fine-tune budget options available based on your circumstances, goals and property strategy, no matter where you are in your property journey.
Explore our range of finance calculators
Use our calculators to guide budgeting and planning your next move. Then book an appointment with one of our property finance specialists to build a strategy and achieve your property goals.
New investor essentials
Getting started in property investment? Download our investor pack to access our essential toolkit for beginner investors:
- Free Budget Planner
- Property Investing: A Beginner’s Guide
- Property Investing Finance Fundamentals
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