When you are buying a house, think about selling that house. No, you didn't misread that. It is always important to keep one eye on the future when you are purchasing property. What sort of market will this house appeal to in 5, maybe 10 years, if you and your family have outgrown it?

You could save many thousands of dollars over the term of your loan by utilising either an offset account or a redraw facility, but how do you choose which one suits you the best?

The functionality of a mortgage can be determined by many things, such as; your net disposable income, financial goals and your ability to stick to a budget. Attaching an incorrect facility or account can mean all your hard work has amounted to very little or worse, it could cost you.

This is a grey area when it comes to finance. While it seems like a pretty straightforward question, it can be very difficult to get a straightforward answer.

A general rule of thumb is that you should save 20% of the purchase price. This way, you can avoid dishing out thousands of dollars on Lenders Mortgage Insurance (LMI), and your smaller loan is safer for both you and your chosen lender.

Buying a house does not happen overnight. There is a lot of researching, dreaming and most importantly saving, that has to occur before you put the pen to paper. If home ownership currently feels like a pipe dream, it is important to make yourself a solid plan. With planning, you can turn the distant dream, into a not-so-distant reality.

Property is hot. If you want to take a slice of the property market, here are some very important things to consider before you sign on the dotted line.