Updated: Jun 30
As a medical professional, you have a unique advantage in the property market, and Nurse Money is here to help you make the most of it.
Investing in property can be a lucrative way to build wealth and secure your financial future. But like any investment, it comes with risks and unexpected expenses that can drain your finances if you're not prepared.
That's why Nurse Money recommends building a savings buffer to cover unexpected expenses and give you peace of mind.
How much should you save?
By having a buffer of three to six months' worth of loan repayments and living expenses, you can invest with confidence and weather any storms that come your way. With a savings plan and budget in place, you can focus on growing your property portfolio and achieving your financial goals.
Where should you keep the money?
Ideally, your savings buffer should sit in an offset account against your mortgage. This way, you have immediate access to the money when you need it, while reducing the principal and total interest payable on your loan. It's a win-win situation that can save you thousands of dollars over the life of your loan.
Carla Nesci, a leading Nurse Money Mortgage Broker advises having a strategy in place to pay back any short-term debt as soon as possible. For example, you could refinance your property and draw down equity to pay back the loan while revisiting your buffer strategy. With Nurse Money by your side, you can explore all your options and choose the one that best suits your unique situation and financial goals.
As a mortgage broking service exclusively for nurses and medical professionals in Australia, Nurse Money understands your unique financial situations and income structures. Our expert team can help you unlock equity in your current home to buy an investment property sooner or select a loan that best suits your unique needs.
Investing in property can be a rewarding experience, and with Nurse Money on your side, you can invest with confidence and achieve your financial goals.
Enquire now to take the first step towards a brighter future in the property market.