How to get less stressed about mortgage stress

If you suddenly couldn’t work, what’s the one expense you’d regret giving up the most? The roof over your head would have to be high on the list, right?

Data from realestate.com.au shows that 58% of those with a home loan are more concerned about the cost of their mortgage than any other expense, increasing to 63% among young families.

An even larger percentage placed smaller ongoing costs, such as petrol (72%) and electricity (77%), over other chief money concerns.

But while most of us can relate to the frustrations of the rise and fall of gas prices and the fluctuating nature of our energy bills, mortgage stress can be a little more serious, especially when you have your own family unit depending on you.

Defined by the Australian Bureau of Statistics as the result of spending more than 30% of your household income on mortgage repayments, mortgage stress can become exacerbated by illness or job loss.

Home security affects the safety and happiness of those we love the most. So if we’re worried about the cost of our mortgage – and how the hell to pay it off should the worst happen – what steps can be taken to ease the mind?

Life and income protection insurance

A recent survey by life insurance company NobleOak found that buying a home and taking out a mortgage were the biggest life events to prompt taking out life or income protection insurance. Having a baby on the way spurred a further 38% into action.

Income Protection provides you with a monthly income to replace your salary if you’re unable to work due to serious illness or injury. Once your waiting period has elapsed, it will pay a set amount each month for the duration of the benefit period selected. You can insure for up to 75% of your pre-tax income, explains NobleOak CEO Anthony Brown.

“Having income protection insurance can help ensure your family will not be left with a major financial burden if you’re left without an income if you were to become sick or incapacitated and unable to work. It can be used to pay for monthly mortgage payments, and to also cover things like household expenses and children’s education essentials.”

How to sell commercial premises

The sale of a product is making a compelling case on its merits to potential buyers and the creation of marketing channels to bring together buyers and sellers. For sale real estate property sale of goods and commercial especially requires seller systematic efforts to reach a greater number of potential buyers. Marketing is the key aspect that should be focused on.

How selling commercial real estate property?

Whole sale is about equating the supply and demand. It is necessary to identify individuals and companies that would be interested in the particular piece of commercial property, buy what you're selling. These are some of the business ideas of marketing of real estate for you, which no doubt will help you reach an agreement.

Do your homework

How to make a sale has to do with leverage appropriate sales channels and reaching its target audience of buyers. Before being able to sell a commercial property, you need to do their part of the task and the investigation. First, the study of commercial property will sell. It may be a shop, an Office or a piece of land, which is ideal for a shopping complex. Make a list of pros for a buyer that would buy it and also the list of cons. Note the location of your property and identify the niches of business that could benefit from a commercial space.

Do if it's a store in a business district, would be a fast food chain to be interested in buying it or that a clothing brand thrive there? Thinking on these lines will help you to decide your marketing strategy to reach the buyers of niche that would be interested in it. Make a brochure with all the details about the property, including square footage, installations and places of interest closest to your location. Finally, it is necessary to investigate the prices of the real estate market in the area, which will help you to determine what would be a reasonable price for the property.

Advertising classified newspaper

One of the best ways to get through the word about your commercial property is advertising in a newspaper. Provide all the vital details of the property along with the details of the location. Let that ad is well designed and has a catchy as "ideal space for a Boutique" or "great location for a fast food restaurant." This announcement will definitely give you some serious questions. Expect a lot of calls and arrange for someone to take them for you!

Serve ads on portals real estate

Another way of advertising your commercial property for sale is to publish information on real estate portals that have national and international exposure. Provide detailed information about the site property, along with photos, with contact details. This will generate a large amount of research.

To publicize through a sales Billboard

One of the more conventional forms of advertising of your property is to put a 'For Sale' Billboard near what can be called the attention of the people who visit the area. You will be surprised to know how many properties have been sold through the consultations generated through simple fences.