Your Financial Readiness Checklist: When the Best Time to Buy Is Actually Now
“Should I wait?”
“Is the market too high?”
“Maybe I’ll buy next year when things settle down…”
If you’ve caught yourself asking these questions, you’re not alone.
In fact, you’re part of a growing group of would-be investors and homebuyers standing on the sidelines—watching property prices, interest rates, media noise, and trying to “time it perfectly.”
But here’s the truth after 20+ years in property strategy: Perfect timing is a myth. Readiness is the real key.
And once you realise that, the smartest time to act may be right now.
This blog isn’t about pushing urgency. It’s about clarity.
Below is the
Financial Readiness Checklist we use with our Living Property clients to make smart, confident moves—no matter what the market’s doing.
Read this carefully. Because knowing you’re ready—before the crowd figures it out—is how investors build wealth ahead of the curve.
✅ 1. Do You Know Your Borrowing Power?
Before anything else—you need to know your numbers.
Not what you think you can afford. Not what your friend bought.
But what a lender will actually approve you for.
This depends on:
📌Your income (including bonuses or side gigs)
📌Your current debts (HECS, car loans, credit cards—even with zero balance)
📌Living expenses
📌Credit score
📌Job stability (yes, even contract work is considered)
"Perfect timing is a myth. Readiness is the real key."
Why it matters:
You may be closer than you think—or waiting unnecessarily based on old info.
📝 Tip: Get a mortgage broker (not just a bank) to run the numbers. They have access to dozens of lenders and can help structure loans based on your goals.
✅ 2. Do You Have a Deposit Strategy?
You don’t need 20%. In many cases, a 10% deposit with LMI (Lenders Mortgage Insurance) or even a 5% deposit with government schemes can get you started—if the numbers stack up.
Got savings? Great.
But also consider:
📌Equity in another property
📌Parental guarantee
📌First Home Buyer schemes (even if you’re investing first!)
📌Bonus income or windfalls to fast-track your fund
Why it matters:
Sitting on your hands for years trying to save a full 20% might cost you far more in missed capital growth than what you’d pay in LMI.
📝 Tip: Focus less on “what’s ideal” and more on “what’s realistic + strategic.” That’s how investors move earlier—and smarter.
✅ 3. Have You Modelled the Holding Costs?
Too many buyers focus on the purchase price but ignore the real question:
“Can I comfortably hold this property for the next 3–5 years?”
Here’s what you need to factor in:
📌Loan repayments (at current AND stress-tested rates)
📌Property management fees (if investing)
📌Council rates, strata/body corp
📌Landlord insurance
📌Repairs & maintenance buffer
📌Vacancy allowance
Why it matters:
The ability to
hold
is what separates short-term speculation from long-term success.
📝 Tip: Build your cash flow model before you buy. If it’s too tight, your first property could become a liability—not a launchpad.
✅ 4. Are You Financially Safe if Life Happens?
You don’t need a million-dollar safety net—but you do need a buffer.
This includes:
📌2–3 months of expenses in savings
📌Emergency access to redraw or offset
📌Income protection insurance (especially if self-employed
Why it matters:
Markets wobble. Jobs shift. Kids happen. Planning for the unexpected makes you a resilient investor.
📝 Tip: If the deal only works by draining every dollar, it’s not the right time—or the right property.
✅ 5. Have You Defined Your Investment Goals?
This is where most buyers jump in blind.
Before you buy, ask:
📌Am I chasing cash flow or capital growth?
📌Do I want to hold for 5, 10, or 20 years?
📌Is this a stepping stone, or a long-term base?
📌Will this property support future lending capacity?
Why it matters:
The right property depends on what you’re trying to achieve. Without a goal, you’re just collecting real estate—not building a portfolio.
📝 Tip: Define your 5-year wealth vision first. Then back-solve what kind of property supports it. That’s where a Buyer’s Agent becomes a game-changer.
✅ 6. Have You Spoken to the Right People Yet?
Still relying on random advice from social media, family BBQs, or mortgage calculators?
It’s time to level up.
You need:
📌A broker who works for you—not just the bank
📌A buyer’s advocate who thinks like an investor
📌A property strategist who can spot what you can’t see
Why it matters:
Smart property moves aren’t made in isolation. They’re made with insight, guidance, and data.
📝 Tip: Think of your first property like a business decision. The right team pays for itself many times over.
"Don’t let perfection block your progression."
✅ So, Are You Ready?
Here’s the golden truth:
If you tick even 4 or 5 of the boxes above, you may already be ready to buy.
The market will never feel “perfect.” But your financial foundation doesn’t need to be flawless—it needs to be functional and strategic.
And waiting for the “perfect time” can mean:
✔️Watching property prices creep higher
✔️Losing months or years of rental income
✔️Missing out on compounding capital growth
Don’t let perfection block your progression.
🎯 Ready to Find Out Where You Stand?
Book your FREE Discovery Call with Oliver Jackson and the Living Property team.
We’ll run a personalised Financial Readiness Check with you—and map your smartest next move.
Because the best time to buy isn’t when the market says so.
It’s when you are ready—and that might be right now.
Start With An Obligation Free Consltation
Our Obligation Free Consultations are designed for you to ask us anything you like and start the process of uncovering a strategy suited to your circumstances.
