Why Finance Pre-Approval Gives You the Edge in a Competitive Market

The Queensland property market has been experiencing exponential growth over the last few years. In this highly competitive market, having an edge over other buyers can make all the difference when it comes to securing the home of your dreams. 

As an inspirational new address in Burpengary, Sage is already home to a close-knit community of residents. Land for sale at Sage is always highly sought after, so having finance pre-approval in place can help you move quickly when opportunities arise.  

What is finance pre-approval? 

To put it simply, pre-approval is an indication from a mortgage broker or bank that you’re eligible to apply for a loan up to a certain amount (say $800,000). 

Pre-approval doesn’t mean you’re obligated to take on the loan, or even take out as much as the bank or lender is willing to offer. It just shows that you’re serious about buying and that you have the finances in place to afford future mortgage repayments.  

Lenders will consider things like your savings, any debts you have (that includes your credit card limits or a HECS-HELP debt), your income and your living expenses. It’s important to be realistic at this stage and consider things like stamp duty, moving costs and other payments that can come up in the future.  

Think of pre-approval as laying a strong financial foundation that you can then build on. It shows you’ve done your homework when it comes to how much you can potentially borrow from a bank or lender.  

While most pre-approvals expire after three months, having the initial checks in place makes it easier for your lender to update or renew your pre-approval during the home building process to reflect your financial situation.  

Some of the benefits of finance pre-approval 

• Greater clarity: Getting pre-approved means you’ll have a better understanding of your budget. From there, you can narrow your search to only homesites or house and land packages for sale at Sage that have everything you’re looking for, while staying in budget.  
  
  
• Act fast: With median listing times getting shorter and shorter thanks to the lack of supply and increasing demand in the City of Moreton Bay, having finance pre-approval in place allows you to act fast without missing out.  
  
  
• Competitive advantage: With pre-approval behind you, sellers view you as a serious buyer from the start. It shows that you’re financially prepared and ready to go. 
  
  
• Reduce stress: With a lot of the paperwork and checks behind you, you can make the whole process smoother and a lot less stressful when starting your home buying journey.  

Why Sage is worth a closer look 

Once you’ve worked out with your broker what your budget looks like, it’s time to put things into action.   

At Sage, you’ll find a range of homesites for sale in our latest release, Eucalyptus. As a tranquil community surrounded by nature, Sage will place you close to everything you need while creating a feeling of being away from it all.  

Here are just a few reasons why Sage is worth a closer look:  

• Live connected in the Moreton Bay region, with Sage placing you between Brisbane CBD and the sparkling beaches of the Sunshine Coast. You’ll also have easy access to the M1 and Burpengary Train Station to make your commute easy.  

• Enjoy future growth with Burpengary forming part of the new Morayfield Emerging Community Area. This area has been earmarked for significant residential development, including new infrastructure and employment opportunities.  

• Be surrounded by nature with over 7.5ha of ecological corridor forming the central green hub of the Sage community. You can also enjoy fresh air and exercise at the 8,200sqm recreation parkland, with its picnic spaces, sporting facilities, grassed areas and more.  

Ready to discover your inspired new address at Sage Burpengary? Contact our friendly team today.