Congratulations, you and your bank-to-be have decided to get married, and you’re making your way towards the altar, or rather, the world of home buying. While this is a very exciting milestone in life, there are many things to take into account when purchasing your first home.
Not many people think about this, but buying your first home can also be quite stressful. You will need to know all the ins and outs of the process, but that should come with time.
Check out some of these tips:
Have a Savings Plan
…and not “just” a savings plan, but a realistic and clear one. Every dollar counts when saving money for your first-ever home. So, think of ways you can save money. Perhaps, you can drop buying coffee every morning before you head to work and make one at home you can bring to the office instead? You can save a significant amount of money with this.
Consider bringing your lunch to work as well instead of eating out every day.
Should you need more support, you can find more resources online to help you plan out your savings. You can even speak to a financial adviser to help you with an efficient savings plan.
Before you hit the market and check out houses for sale, you need to do your homework first. This includes knowing what government grants are available to you. Additionally, get to know the banks with the best lending packages and loan features that will suit your needs.
In case you plan to build, make sure you understand the whole process, such as your contractual obligations, additional costs and council regulations.
Finally, understand what area you want to buy a property in. Consider all your needs.
Find the Right Home
When buying your first home, it’s not only about how it looks, but it should also be in the right location. Balance smart investment choices with property choices so you can make the right decision.
Look for a property within your budget, an area that suits your lifestyle, and a home near relevant amenities.
It’s helpful to list down the things you want in your first home. Narrow down the list and keep it realistic and within the budget. With this, you get to stay more organised to help you find the right home for you and the best investment.
Have a Mortgage Broker Help You Out
Navigating the housing market by yourself can be a challenge, especially if it’s your first time. That’s why the help of a mortgage broker can make a huge difference.
Your broker can help you through the process and avoid delays as much as possible.
Have the Best Home for You
Purchasing your first house can be something of a daunting experience. It’s more than just the trial and error of hunting down the right home for you; it is an entire equation that you need to solve. These tips can help you get started and help you stay on track towards the path to success. Are you ready to acquire the home of your dreams today?
Make your home purchase in Perth a smooth process with the help of the best brokers in the area. All of the finance managers at FinanceCorp are fully qualified, trained and experienced mortgage professionals who live and breathe finance. Contact us today.