Fortnightly vs. Monthly Mortgage Payments: Which Strategy Saves You More?

When paying off a home loan, the timing of your repayments can have a surprising impact on how much interest you end up paying over the life of the loan. Many borrowers simply accept the default monthly repayment structure, but switching to fortnightly payments can sometimes reduce the term of the loan and save thousands in interest.

The question is, which option works best for your circumstances?

Understanding How Repayment Frequency Works

Mortgage repayments are usually calculated on a monthly basis. However, lenders often allow borrowers to make fortnightly or even weekly payments. While it may seem like a small adjustment, repayment frequency changes how often money is applied to your loan, which can affect the total interest charged.

• Monthly repayments: 12 payments in a year.

• Fortnightly repayments: 26 payments in a year, roughly the equivalent of 13 monthly repayments.

That extra month of payments each year is where potential savings come into play.

The Case for Fortnightly Payments

Making repayments every two weeks can help borrowers shave years off their loan term. Here’s why:

• Extra repayments: By paying half your monthly amount every fortnight, you effectively make the equivalent of 13 monthly payments in a year, not 12.

• Interest savings: Interest is calculated daily, so reducing the balance more frequently means less interest accrues.

• Shorter loan term: Even without consciously paying extra, the structure of fortnightly repayments reduces the time it takes to clear your mortgage.

For borrowers who can manage the slightly tighter cashflow cycle, the benefits can be substantial.

Why Some Borrowers Prefer Monthly

Not everyone finds fortnightly repayments convenient. For many, monthly repayments line up more easily with salary payments or personal budgeting. It also provides a sense of predictability, with just one repayment to plan for each month.

While monthly payments may not generate the same interest savings as fortnightly, they still provide consistency and less administrative hassle for households that prefer simple money management.

Lifestyle and Cashflow Considerations

Choosing between fortnightly and monthly isn’t just about the math. It comes down to how you manage your household finances.

• If your income arrives fortnightly, aligning mortgage repayments with your pay cycle may make sense.

• If your income is monthly or irregular, sticking with monthly repayments may feel smoother.

• Some borrowers like the discipline of fortnightly payments—it forces regular contributions and prevents overspending.

Ultimately, the best option is the one that supports both your financial goals and your lifestyle.

Can Extra Repayments Do the Same Job?

Some borrowers prefer to stick with monthly payments but make additional contributions whenever possible. This can be just as effective as fortnightly payments, provided you’re disciplined. Whether you direct lump sums from bonuses, tax returns, or savings into your mortgage, the result is the same—lower principal, less interest, and a shorter loan term.

The key is ensuring your loan allows extra repayments without penalty, something worth checking with your lender upfront.

Speaking With a Professional

For those unsure which repayment structure suits their circumstances, it’s worth having a conversation with a mortgage broker Sydney based. Brokers can model repayment scenarios across different lenders, showing how fortnightly versus monthly plays out in real numbers. They can also factor in loan features like offset accounts or redraw facilities that may further reduce interest costs.

Final Thoughts

There’s no single right answer when it comes to repayment frequency. Fortnightly payments can deliver meaningful savings over time, but they also require a cashflow rhythm that not every household can maintain comfortably. Monthly payments, while less aggressive in cutting down interest, still offer reliability and simplicity.

The most important step is to actively consider your options rather than defaulting to whatever your lender sets. Whether you choose fortnightly or monthly, structuring your repayments with a clear plan helps ensure your home loan works for you—and not the other way around.

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Discover Hidden Culinary Gems in the Hamptons

The Hamptons are famous for their beautiful beaches and luxurious estates, but they also offer a treasure trove of lesser-known culinary delights. As we navigate the bustling summer season, it’s the perfect time to discover those hidden culinary gems that provide memorable dining experiences. From quaint cafés tucked away on quiet streets to seafood spots serving the freshest catch, the Hamptons have a rich variety of eateries waiting to be explored.

For those who love farm-to-table cuisine, there are local farms that transform their fresh produce into mouthwatering dishes you won’t find anywhere else. These places not only support local agriculture but also offer a unique and authentic taste of the Hamptons. Whether you’re a resident or just visiting for the summer, discovering these hidden culinary gems can make your stay even more special.

Finding these spots requires a bit of insider knowledge and a spirit of adventure. From talking to locals to taking scenic detours, there are many ways to uncover the best-kept secrets in Hamptons dining. Let's dive into some of the charming cafés, seafood havens, and local farms offering fresh cuisine that make the Hamptons a foodie’s paradise.

Charming Cafés You Need to Visit

The Hamptons are home to some of the most charming cafés you'll find anywhere. These cozy spots offer a perfect place to relax and enjoy a delicious meal or a cup of coffee. One favorite is the Blue Door Café, known for its delightful pastries and homey atmosphere. The outdoor seating area is great for soaking up the summer sun while enjoying a freshly baked croissant or a steaming latte. This café is also family-friendly, making it an excellent spot for breakfast or brunch during your summer vacation.

Another must-visit is Beachfront Brews, a delightful café located right near the shore. With its stunning ocean views and relaxed vibe, it's the ideal place to unwind after a day at the beach. We recommend trying their iced coffees and specialty sandwiches, which are perfect for a quick lunch or a leisurely afternoon snack. These charming cafés offer more than just food and drinks; they provide a relaxing environment where families can connect and enjoy the beauty of the Hamptons together.

Best Underrated Seafood Spots

The Hamptons are famous for their seafood, but there are many underrated spots that deserve your attention. One hidden gem is Fisherman's Delight, a quaint seafood shack that offers some of the freshest fish you'll ever taste. We love their crab cakes and clam chowder, both made with ingredients sourced directly from local fishermen. The casual setting makes it a fantastic place for family outings, where kids can explore the nearby beach while waiting for their meal.

Another excellent but lesser-known spot is Ocean's Catch, tucked away from the more crowded areas. This seafood restaurant offers dishes that are both delicious and affordable. Their lobster rolls and grilled shrimp are fan favorites, and the friendly atmosphere makes it a great choice for a family dinner. By exploring these underrated seafood spots, you'll not only enjoy some fantastic meals but also support local businesses that take pride in serving fresh, high-quality seafood.

Local Farms Serving Fresh Cuisine

The Hamptons are known for their rich agricultural heritage, and visiting local farms that serve fresh cuisine should be on your summer agenda. One of our top picks is Green Valley Farm, where you can enjoy meals made from ingredients sourced directly from their fields. The farm-to-table dining experience here is unmatched. We suggest trying their seasonal salads and freshly made pies, which showcase the best of local produce.

Another standout is Hilltop Farm, which offers a delightful dining experience amidst rustic surroundings. They serve a variety of dishes that highlight the farm's freshest vegetables, herbs, and meats. Their weekend brunches are particularly popular, featuring hearty farm-fresh omelets and artisanal breads. Eating at these local farms not only provides a delicious meal but also supports sustainable farming practices in the region. These farms let you taste the true flavors of the Hamptons while enjoying a picturesque setting.

Tips for Discovering Hidden Restaurants in the Hamptons

Finding hidden restaurant gems in the Hamptons can make your dining experience even more memorable. One effective tip is to explore areas off the beaten path. Quaint side streets and lesser-known neighborhoods often house some of the best undiscovered eateries. We recommend asking locals for suggestions, as they often know the best places that aren’t featured in tourist guides.

Another useful approach is to attend local farmers' markets, where many vendors operate seasonal food stands. This can lead to discovering pop-up restaurants and food trucks offering unique and tasty meals. Social media can also be a helpful tool. Following local food bloggers and Hamptons-based social media accounts often yields recommendations for hidden dining spots. By dedicating a little extra time to uncovering these restaurants, you’ll be rewarded with delicious food and a unique dining experience.

Conclusion

There's something truly special about the dining experiences awaiting you in the Hamptons this summer. From cozy cafés and underrated seafood spots to local farms and hidden gems, the variety of culinary delights is vast and inviting. We know that exploring these unique places can turn a simple meal into a memorable adventure for the whole family.

As you plan your summer activities, consider stepping off the beaten path to discover these incredible dining spots. Each visit supports local businesses and enriches your connection to the Hamptons community. If you're ready to explore the best of Hamptons dining, follow along with Off The MRKT for more recommendations and insider tips. Live the Hamptons lifestyle, venture out, and make every meal an unforgettable experience.

SERHANT. launches Williamsburg new development

Images Courtesy of NoTriangle Studio

The Bogard New York Team, one of the top luxury real estate teams at SERHANT., today announced sales of The Orson, a boutique new development located at 402 Union Avenue in Williamsburg, Brooklyn.  The property was developed by Ranco Capital with KAO-HWA-LEE serving as architect and interiors by Makers Collective.

Nestled on a corner lot, The Orson comprises six units including one two-bedroom duplex, three three -bedroom floor-through units, and two three-bedroom penthouses.  Most  units boast coveted corner frontage accentuated by oversized windows framed with custom 32-inch-high wainscotting.  Intentionally designed with heritage finishes to create timeless residences, there are herringbone floors of oak wood, wainscotting, high base-boards, and double panel and steeped door frames with brass hardware.  Kitchens feature walnut shaker cabinetry and Calcutta Vagle Rosatto polished marble countertops and an appliance suite from Bertazzoni and Fisher & Paykel; the bathrooms have oak cabinetry and Nordic Grey, Honed Marble.

“We take a very thoughtful approach to our developments to ensure we craft warm homes with an enduring design,” said Avrumy Gluck of Ranco Capital.  “With The Orson, we wanted a building that delivers unparalleled beauty and uncompromising quality – every material, finish, and detail was carefully curated to bring a timelessness not just to the residences, but to its future residents.” 

Residences of The Orson are entered via keyed elevator access.  Amenities include a secure package room and a furnished rooftop deck with lush planters, an inviting pergola, Ipe wood sunbathing area, outdoor kitchenette with grilling station, and breathtaking Manhattan skyline views.

“The Orson is an elegant building that brings a modern yet cozy feel to each of its units, offering a private sanctuary in the heart of a neighborhood known for its energy and culture” said Mallory Bogard, licensed associate real estate broker and co-founder of The Bogard New York Team at SERHANT. “With median sales prices in Williamsburg up nearly 4% year-over-year, The Orson provides a unique opportunity to own a spacious, quality home in an in-demand market.”

Sales of The Orson are being led by Brandon and Mallory Bogard. 

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The Modern Commune: Inside New York’s Growing Co-Living Trend

Living with 23 housemates might sound like a chaotic nightmare to some, but for Ishan Abeysekara, a 33-year-old professional in Brooklyn, New York, it's a lifestyle choice that brings connection, community, and convenience. As the cost of living in major cities like New York continues to climb and the challenges of forming new friendships as an adult persist, co-living arrangements like Cohabs offer a compelling solution. But is this modern approach to communal living the future of urban life, or just a passing trend?

Co-Living: The New Urban Reality?

Co-living spaces like Cohabs are popping up in cities worldwide, responding to a growing demand for affordable housing and built-in communities. Unlike traditional shared apartments, co-living spaces are designed to foster a sense of community while offering flexibility and affordability—attributes that are becoming increasingly rare in today's urban housing market. For Ishan, who moved from London to New York in late 2022, the decision to opt for co-living was driven by practicality and a desire to build new roots quickly.

He articulates a sentiment that resonates with many urban dwellers: "As you grow older, making friends as an adult gets more challenging." Co-living, he says, offers a ready-made community and a chance to make new connections in a city known for its overwhelming pace and often isolating nature.

From College Dorms to Adult Communes: How Co-Living Differs

While the setup might conjure images of chaotic college dorms, there are key differences. The residents of co-living spaces like Ishan's tend to be more mature, respectful, and committed to creating a harmonious living environment. With shared amenities like a spacious kitchen, multiple refrigerators, a rooftop terrace, a gym, and a TV room that can comfortably fit all 24 residents, the infrastructure supports both community and privacy.

But the allure of co-living is more than just shared costs and convenience; it's about fostering genuine human connections. In an age where digital communication often trumps face-to-face interaction, co-living creates organic opportunities for social engagement—whether through communal dinners, workout challenges, or simply sharing a cup of coffee on the terrace.

The Upsides and the Realities of Co-Living

However, co-living isn't without its drawbacks. The transient nature of some residents can make it difficult to form lasting bonds. As Ishan points out, "If people are only here for three months, it's a bit hard to make a connection." Moreover, sharing spaces with over 20 people can come with occasional inconveniences, like waiting for a shower. But for Ishan, these are minor annoyances compared to the benefits of living in a dynamic, social environment.

The most significant advantage? For Ishan and others like him, co-living isn't just about having a roof over their heads. It's about creating a supportive micro-community that can help combat the loneliness and isolation that often accompanies moving to a new city or living alone. "I think I've met some people who I feel like I'll still be friends with when I'm 60," he reflects—a testament to the depth of connections that can form in these shared spaces.

A Glimpse into the Future of Urban Living

The rise of co-living spaces like Cohabs is reflective of broader shifts in urban living and housing trends in NYC. As cities become denser and more expensive, traditional notions of privacy and personal space are being reimagined. The success of these ventures raises interesting questions: Are we moving toward a more communal way of life out of necessity, or is this a deliberate choice to foster deeper human connections?

For now, co-living seems to offer a promising middle ground—a blend of independence and community that meets the needs of today’s urban professionals. Whether it’s a sustainable model for the future remains to be seen, but for residents like Ishan, it’s a choice that has already enriched their lives.

Final Thoughts

Co-living might not be for everyone. It requires a certain level of flexibility, tolerance, and a willingness to engage with others. But as Ishan’s experience shows, the rewards—community, friendships, and a rich social life—often outweigh the compromises. As cities like New York continue to evolve, co-living could very well be the answer for those seeking more than just a place to live, but a place to belong.

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The Art Collection Advantage: Elevating Your Hamptons Home's Aesthetic and Value

The Hamptons boasts an illustrious history and tradition of embracing art in various forms, from esteemed galleries to incredible private collections displayed in luxurious homes. An exceptional art collection not only elevates the aesthetic appeal of your Hamptons abode but can also contribute significantly to its overall value.

At Off The MRKT, we pride ourselves on presenting expert-driven, intent-focused content tailored to your interests in Hamptons and New York City luxury real estate and lifestyle. Allow our engaging articles and invaluable insights to guide and inspire your journey as you explore the finest offerings of the East Coast's real estate world and immerse yourself in a lifestyle that truly knows no bounds.

In this article, we will explore the advantages of strategically curating an art collection for your Hamptons residence, providing expert tips on selecting the right pieces and showcasing them in ways that can positively influence your home's real estate prospects.

Building Your Collection: Expert Tips for Selecting the Right Artwork

Embarking on the journey of curating a remarkable art collection for your Hamptons home requires careful consideration, research, and an informed approach to selecting the right pieces that reflect your unique personality and taste.

1. Discover Your Personal Style:

Whether you prefer contemporary, abstract, or traditional pieces, identifying your artistic preferences and honing in on a distinct personal style will help guide your selection process and create a cohesive collection.

2. Research and Education:

Take the time to learn about the artists, their background, techniques, and the story behind each piece. This understanding will not only enrich your appreciation for the artwork but can also add significant value when discussing your collection with potential buyers or guests.

3. Quality over Quantity:

Focus on acquiring high-quality works of art that hold their value over time instead of amassing a large quantity of pieces that may not have the same long-term appeal or investment potential.

The Art of Display: Showcasing Your Collection in a Welcoming and Engaging Manner

The manner in which your art collection is displayed plays a crucial role in enhancing your home's aesthetic appeal and creating an inviting atmosphere for guests or potential buyers.

1. Consider Lighting and Space:

Utilize natural and artificial lighting to illuminate your artwork and create a visual focal point. Ensure that each piece has ample breathing room, avoiding overcrowding or clutter that detracts from the artwork's impact.

2. Cohesive Flow and Balance:

Arrange your collection in a way that creates a harmonious flow throughout your home, balancing the types of pieces, their sizes, and color schemes to create a visually captivating and seamless experience.

3. Rotate and Refresh:

Keep your display dynamic by periodically rotating and updating your collection. This practice will not only inspire renewed appreciation for your art but can also pique the interest of visitors and buyers alike.

Art as an Investment: Understanding the Value of Art in the Real Estate Market

Incorporating a thoughtfully curated art collection into your Hamptons home can significantly influence its value and real estate potential.

1. Cultural Capital and Prestige:

A well-rounded art collection demonstrates an appreciation for culture and sophistication, elements that are highly valued and sought-after within the Hamptons real estate market.

2. A Point of Differentiation:

A signature art collection can set your property apart from others in a competitive market, providing a unique and memorable aspect that resonates with potential buyers.

3. Increasing Valuation:

Investing in quality artwork that is likely to appreciate in value over time can make a considerable impact on the overall worth of your property, offering both aesthetic and financial benefits.

Key Art Venues and Resources in the Hamptons

The Hamptons is home to a vibrant artistic community and numerous venues that can assist in your pursuit of building an extraordinary art collection.

1. Art Galleries:

Visit notable local galleries, such as the Eric Firestone Gallery, the RJD Gallery, and the Grenning Gallery to find inspiration and discover emerging talents or coveted pieces.

2. Auction Houses:

Keep an eye on renowned auction houses like Christie's and Sotheby's in the Hamptons, as these establishments not only provide opportunities for acquiring exceptional artwork but can also appraise and advise on the value of the pieces in your collection.

3. Art Festivals and Fairs:

Attend annual events, such as Art Hamptons or Market Art + Design, offering the perfect environment to explore and develop your artistic knowledge, connect with like-minded individuals, and potentially uncover hidden gems for your collection.

Conclusion:

Strategically curating an art collection has the potential to elevate your Hamptons home both aesthetically and financially, creating a welcoming environment that intrigues guests and potential buyers alike.

By taking a thoughtful approach to selecting the right artwork, showcasing your collection effectively, and understanding the value of art in the real estate market, you can establish your Hamptons property as a distinguished and memorable destination. Furthermore, by immersing yourself in the vibrant local art scene and utilizing available resources, your collection will not only spark joy and inspiration within your residence but also serve as a valuable investment that enhances the allure of your Hamptons home for years to come.

Dive into the captivating world of Hamptons and New York City luxury real estate and upscale living with Off The MRKT. Providing you with a rich selection of engaging content, we'll take you on a journey where white-sand beaches meet iconic skyscrapers, enchanting our readers with the latest lifestyle and real estate trends, insights, and opportunities. Subscribe to our newsletter, and get the best articles and property management tips delivered to your inbox!