6 Quick Tips For First Home Buyers
Tip #1
Cross your t’s and dot your I’s: Before rushing into the process too fast, you will need to check that you actually qualify for a home loan. To understand this, the first home specialists at First Home Buyers can run through a preliminary assessment. This will allow our broker panel to calculate your borrowing power based on your budget and lifestyle. This will give you a realistic understanding of what (and where) you can actually buy. Why rush around when you can do it all at one location.
Tip #2
Sorting out debt: If you are already in debt, this may be credit cards, new car loans, personal loans etc. You may find it harder to get a home loan approved, or may not be able to borrow as much as banks begin to tighten their belts. With the talented team of brokers, they can assist in consolidating debts and assist you on savings plans to achieve the goal of home ownership.
Tip #3
Deposits: Big deposits are a thing of the past with First Home Buyer fantastic low deposit home and land packages. Using your $15,000 FHOG (First Home Owners Grant) and a further $10,000 contribution from the builder, you’re able to get in with a deposit from as little as $3000.00 with no lenders mortgage insurance through Homestart. Our broker panel has access to literally 1000’s of different lenders to tailor suit a loan to your specific needs.
Tip #4
Crunch your costs: Buying a home can incur many unforeseen costs such as conveyancing fees and stamp duty etc. It can be a scary exercise, but with First Home Buyers, we assist in the facilitation and moving into your first home. Luckily with home and land packages, stamp duty is only paid on the land. We have a list of recommended conveyancers which offer a fixed price fee and ensure that the facilitation of transfer is done as effective as possible.
Tip #5
Experts are there to help: First Home Buyers help you every step of the way through the home buying process. First home Buyer specialists assist throughout the whole buying process, from choosing the best suited broker to choosing the best suited builder. They will help you navigate your way through the journey with ease.
Tip #6
Know the market: Being your first home, it’s a stepping stone to your dream home. Knowing the market is vital when entering the real estate world. Ensuring you enter an area with positive capital growth to create maximum equity and wealth in your property. This will ensure you will have access to opportunity in the future to refinance and potentially create a portfolio of investment properties.
First Home Buyers is not a financial advisor. You should consider seeking independent legal, financial, taxation, or other advice when considering your circumstances.