The first step to buying that perfect property in Broadbeach Waters is to secure the finance for your purchase, which for most people means applying for a home loan.
While the official cash rate is working in the favour of borrowers at the moment, Rate City's product director Peter Arnold suggested that buyers might want to look at their loan in a long term context.
"Historically speaking we're far from normal. The general talk is that rates will stay low for a long time, but a home loan is around for an even longer time," Mr Arnold told the Sydney Morning Herald.
Even if the cash rate were to stay low for the next five years, nobody is likely to have paid off their mortgage in this time frame, which is why it's so important to think to the future.
Factoring in borrowing costs and repayments is the most effective way of ensuring the loan can be paid back in years to come.
At the moment, the official cash rate stands at an all-time low of 2.5 per cent – the level it has been at since August 2013.
The Reserve Bank of Australia announced on 2 December it would remain unchanged and the board is next due to meet on 3 February.