Buying your first home should be exciting

No matter at what stage of your life you decide to enter the real estate market, buying your first home is a massive milestone and a memory that will last forever.

Buying your first home can be a whirlwind of emotions. It is the largest financial commitment you will ever make and we want to ensure your first home buying experience is one of fond memories, not nightmares!

Buying your first home can be overwhelming, so it pays to have experts you can trust guiding you through the process and making sure all the paperwork is managed properly, so you don’t have any unexpected nasty surprises. As a first-time home buyer, it’s often your first time completing an application, going through the approval process, securing any grants you might be eligible for, and knowing what area you should look to buy in. On top of all that, there are often curveballs thrown into the mix that property virgins never even realised existed, and to complicate things even further; most of the companies you’ll deal with will explain everything in jargon, like it wasn’t already challenging enough!

How to get the most bang for buck when buying your first home

Instead of trying to blind you with acronyms and jargon, let’s talk about what you are really interested in; getting the most bang for your buck out of buying your first home.

So, to get you started down the road to success for first time home buyers, here are some simple tips to boost your confidence and make your experience a positive one.

  1. Plan your budget and get rid of excess debt: This might seem like a no-brainer, but sometimes it pays to state the obvious. The most important step in buying your first home is working out a budget that suits your lifestyle and needs and sticking to it, even once you’ve pocketed your keys and moved into your new home. Taking the time to create a working budget will give you a clear picture of what you can afford, both regarding the property and the loan. Finally, when it comes to budgeting, don’t make the mistake of applying for your first home loan still carrying excessive debt, whether it’s credit cards, car payments or personal loans. If you manage these debts first, you’ll thank yourself later! 2. Save. Save. Save: Start saving for your deposit, this is the hardest part, then once you have a budget planned you will have a clearer idea of what you can afford. Cobble together the biggest deposit you can as this will help you in several ways. Firstly, it shows lenders that you are serious about buying and can exercise financial discipline over a period. And secondly, the bigger the deposit, the more the equity you have in your property right from the word go. This means you will pay less interest–it’s a win-win situation. 3. Apply for a First Home Owner Grant early: Ideally, you want to apply for your grant at the same time as you apply for your home loan. If you do this, it will ensure the grant is processed faster, and in most cases, will be done in
  2. Save. Save. Save: Start saving for your deposit, this is the hardest part, then once you have a budget planned you will have a clearer idea of what you can afford. Cobble together the biggest deposit you can as this will help you in several ways. Firstly, it shows lenders that you are serious about buying and can exercise financial discipline over a period. And secondly, the bigger the deposit, the more the equity you have in your property right from the word go. This means you will pay less interest–it’s a win-win situation. 3. Apply for a First Home Owner Grant early: Ideally, you want to apply for your grant at the same time as you apply for your home loan. If you do this, it will ensure the grant is processed faster, and in most cases, will be done in
  3. Apply for a First Home Owner Grant early: Ideally, you want to apply for your grant at the same time as you apply for your home loan. If you do this, it will ensure the grant is processed faster, and in most cases, will be done in time of settlement. And make sure you do your research on what grants you are eligible to receive when you are looking at buying your first home. Every state and territory offer individual incentives so make sure you’re aware of what is available in the area you are buying your first home.
  4. Don’t be gullible: Make sure you undertake all building and pest inspections no matter how perfect the home looks, we have all heard about judging books by their covers. It also pays to research the area you are buying your first home in to compare what prices similar houses are selling for. Of course, finding an advisor you can trust to help with this process often pays in dividends.

Why talk to us when you are looking at buying your first home?

Well, we specialise in guiding you through the smoke and mirrors of the finance world and providing you with the knowledge and support you need to make your first time buying experience a success.

Whether you’re a first-time investor looking to secure a small investment property or a property investment veteran looking to diversify your portfolio and grow your wealth rapidly, we offer custom solutions to suit your needs.

Through years of industry experience, we have done the hard yards to refine the method to the madness that is the property market. We’re proud to have worked with some of the best home loan experts and financial planners with proven track records that will get you the results you are looking for every time. We don’t deal in guesswork; we provide data-driven, objective-led strategies to make sure your dream of homeownership becomes a reality.