Tuesday 15th August 2017
There are a lot of benefits to being self-employed. Rather than having to show up to an office and report to a boss, you instead get to take control of your own career. You decide when and where you work – and perhaps most importantly, whom you work for. Having this autonomy is a surefire way to create a happier life for yourself.
There is one drawback, though. Working for yourself makes it more difficult to earn a clear, verifiable income. Without having a simple paycheck on paper for anyone to see, it’s tougher to demonstrate you’ve got the financial capability to make a big purchase, like a house. You might need to have the right broker to pull it off.
Self-employed people have happier lives
This idea that self-employed people are happier isn’t just speculation – it’s a verified fact. A recent study by registered training organisation Upskilled found that 4 million Australians are working today without bosses, and a stunning 92 per cent of them say they have happy lives.
“I don’t think there is anything more satisfying than being your own boss,” freelance photographer Yve Lavine told the Sydney Morning Herald. “Within reason, I can choose clients, and I love telling people’s stories through photography.”
Daily life tends to be more pleasant when you work for yourself – though that says nothing of bigger long-term challenges like making mortgage repayments.
Verifying your income can be a hassle
The hard part of being self-employed is that, even if you’re making decent money, it’s hard to put together the paperwork to prove it. YourMortgage cautions that when you’re your own boss, your applications for home loans are likely to be highly scrutinised, and you’ll be in trouble if you don’t have evidence to back up your claims of income.
Steady cash flow and detailed record-keeping are two keys to proving you’re worthy of buying a house. A third essential element is being able to find a mortgage broker who will represent you.
Use a broker who will fight for you
Are you self-employed and looking to buy a house in the near future? For us, that’s absolutely not a problem. We have access to a vast network of Australian lenders, and we’re confident we can find the right one for you.