When you're hoping to approach the property market and secure your own property, one of the first things you should ask yourself is this – How much can I borrow?

After all, knowing how much money you have at your disposal can facilitate your real estate search in a number of ways. And it doesn't matter what type of loan you're looking for.

Whether it be a first home loan, a construction loan or perhaps a more intricate investment loan, being able to put a value amount on your borrowing capacity will help you to find the perfect property to suit your budget.

For one, having a basic grasp of your general price bracket will allow you to avoid wasting time looking at properties outside of your reach and, instead, begin searching for great real estate that fits your criteria and rests within your budget.

There's nothing worse than falling in love with a property, only to find out the asking price exceeds your budget.

You can find out a general idea of your borrowing capacity by jumping online and using one of the calculator tools available. Putting in some basic information like your income and expenses will allow you to get a ballpark figure and a basic idea of what you're working with.

However, this is no substitute for chatting with a financial expert. They're in the best position to look into your personal finances, and provide you with a comprehensive overview of what is available to you, the best home loan types for your situation, and the next step you should take in order to achieve your property goals.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.