First Time Buyer’s Guide

FIRST HOME BUYERS GUIDE

Owning your own home is the great Australian dream. But it is also can be daunting the first time you buy your own home. The thought of entering into a new realm of finance, solicitors, reports and negotiations is a little overwhelming, to say the least.

Before you start looking for a property or land, you need to make sure you know your financial options in side out. It’s common for first homebuyers to start looking at homes, fall in love with one and then find out that they can’t afford it.
So save yourself the disappointment and do your research first. Do you have a thorough understanding of expenses such as insurances, rates, and body corporate fees? Ask yourself how much can you realistically afford and still maintain a semblance of a normal life? It’s important to shop around, ask lots of questions and think about what you are prepared, and can afford, to commit to.
Then check into the First Home Owner Grant. It is $25,000 for first homebuyers purchasing newly constructed home, or $12,000 for purchases of established properties. With removal of the stamp duty payment, the application process has become much simpler.
Once you’ve secured you’re funding – then it’s the roller coaster ride of finding your dream home! It’s important to find an agent you can trust. Don’t be afraid to speak to a number of agents. A good agent will be able to recommend skilled building surveyors and pest inspections and assist you with the process of buying your home.
In order to assist potential buyers with this process we have gone to the experts for advice.