Local mortgage broker tips for buying property in Penrith

Today we explore the opportunities in buying a home in Penrith.

According to market research, one of the biggest drawcards attracting homeowners to Penrith is affordability, where the cost of a free standing home with land may be less than an inner city apartment. (source)

We spoke to local area mortgage brokers, who told us that Penrith has a lot to offer for anybody looking for property in that area.

Penrith is a city itself, and so has all the amenities you would expect from city life. You will have convenient access to private and public hospitals, educational opportunities in both private and public schools, parks, recreational facilities, and lots more.

Top tips for getting into a property in Penrith from local mortgage brokers

1. Know your borrowing capacity

Helping people understand their borrowing capacity is crucial to get started.

“Knowing what you can afford from the beginning is the best way to find a suitable property and avoid disappointment. When you have a pre-approval in place, it gives you more leverage over other buyers because you are ready to go.”

2. Work out what type of home you want

There are a lot of options in living arrangements around Penrith. Knowing whether you want a unit, townhouse, duplex, house, or acreage will narrow down your search and save you time.

3. Understand the real cost of a property

The list value of a Penrith property may not indicate its real cost.

“Some properties, such as units and duplexes, have strata levies, which can vary substantially. A pool will be an increased ongoing cost, as will maintaining acreage.”

4. Consider the efforts needed in maintaining your Penrith property

Different types of properties come with different levels of upkeep. For instance, units and townhouses are typically low maintenance, houses require a medium level of maintenance, and homes with pools and acreage are high maintenance.

5. Know your present and future needs

This is an important aspect of buying a property in Penrith. You will want to factor in your current needs, as well as your future needs.

For example, if you are moving into the area with a family, you will need access to schools and shopping. Or your circumstances may mean you need close access to a hospital.

If you are planning a family, you will need room to grow, or if you’re retiring, you may want something smaller that requires less maintenance.

“Structuring your purchase in with these considerations can potentially save you thousands of dollars in the years to come.”

Looking for trusted service providers across Penrith and the Hawkesbury area?

Whether you are buying, selling, moving or renovating your home, our Tradebusters Connect Sydney Top 3 Local Choice directory. can connect you with trusted local businesses like tradesmen, real estate and property professionals, and more.

Their contact details are available on this website, and you are free to contact them directly. Check out an area near you today.