Now, you might be wondering, "what is negative equity?"
Negative equity isn't just a fancy term—it's a situation that can disrupt your plans and cause financial stress. If you're a first-time homebuyer, negative equity can be especially worrisome, as it affects your ability to build equity and achieve financial stability.
Imagine this: you just bought your dream home, and suddenly the value of the house starts going down, putting you in a situation where you owe more on your mortgage than what the home is actually worth.
That's negative equity, and it can be a real nightmare.
But don't fret!
In this episode, we break down negative equity in simple terms, explaining its consequences and providing practical tips to avoid or mitigate its risks. Don't let negative equity catch you off guard! Tune in and take control of your financial future by safeguarding your home investment.
➼ First home buyers most at risk of negative equity, especially if they bought with low deposits in 2022 https://ab.co/3NCq1TX
Veronica Morgan & Meighan Wells
Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.
Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!
Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.
