Is It Worth Buying a House for Two Years?
Conventional mortgages have variable-rate loan terms that last 30 years. Things have changed over the last two decades. The average Australian spends 10 years in their home. Portable loan features allow homeowners to take their mortgage with them. It’s a convenient home loan element that makes relocation easier.
An individual can own a house for two years. Individuals who employ this strategy are often investors. They hold the property and sell it after completing a renovation on it. Other investors require up to two years to find a tenant for the property.
Mortgage House offers interest-only mortgages. It keeps the repayments low for the first one to five years. The savings allow the investor time and funds to complete their process.
Owner-occupiers can own their home for two years. Two years is not enough time to build home equity. However, the homeowner overcomes the challenges toward becoming a homeowner. It’s a necessary jump-off point toward building wealth. Things happen. Sometimes an individual finds that they need to move after the first two years of homeownership. A relocation and mortgage choice allows a homeowner to continue as such, just in a different home.
Purchase a House for Two Years Conclusion
If you would like to own a house for two years, you can. Mortgage House provides financing that keeps the repayments affordable. This allows investors to keep their overhead low while they find a tenant or renovate the property. Two years isn’t enough to build significant home equity. However, it does put individuals on the path toward building wealth.
Contact our loan specialists to obtain more information.