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Read the comprehensive guide to buying your first home. Our advice is the result of decades of collective experience in helping satisfied first home buyers purchase their first property.
Or, call us now on 07 3293 9100
Property Consultant
Preparing to buy your first home is a very exciting time. However, it can also be a confusing process and daunting and scary at the same time. It’s important you don’t feel overwhelmed and as if you are going into it alone.
Affinity Property has helped hundreds of clients buy their first home. We love working with first home buyers because its fun helping people buy their first property. It is also very rewarding sharing our knowledge and helping buyers get the best possible outcome
This will help you understand how much you can afford on repayments and other costs. It needs to be a long term workable budget that also has a little bit of room for fun or you’ll never stick to it.
There are many budget calculators and other programs to assist you in your planning phase. Make use of these.
When you plan for your budget, it is a prime oppertnutiy to evaluate your expenses and eliminate any unused memberships or superfluous payments
When you are looking at first homes, think about the sort of qualities your home must have. Proximity to public transport? A home large enough for small children? Consider these first before you look at luxaries like pools etc.
Or, call us now on 07 3293 9100
Generally, you can expect houses in Australia to increase in value over time. So the sooner you are able to purchase your home, the better.
Save the biggest deposit that you can put together. Firstly, it shows a lender that you can save and not waste money. Secondly, it can also save you a lot of money in fees from the bank.
There are a multitude of savings accounts available. Read about the things to look for in a savings account to find what is appropriate for your goals.
If you save a 20% deposit, and borrow less than 80% of the purchase price, you do not have to pay mortgage insurance
If you have more than one loan, you should consider consolidating your debt into one. This can make it easier to manage your debt and make repayments on a single loan with only one interest.
When paying off your debt, you do not need to only pay the minimum. By paying extra each month, you reduce the amount of time you'll be stuck in debt, and can buy your home sooner.
Make sure you receive all that you can from the government in regard to any incentives. Make sure you are fully informed and know what is available to you.
The Queensland government offers grants for first home buyers. Learn about the Queensland First Home Owners grant here
If you are outside of Queensland, the federal government and other state governments offer first home buyer grants of their own. Viw them here
As you can see it’s important to do your homework and spend time preparing to buy your first home. Working with a professional finance broker and locking in a pre-approval can help with all of the above.
These experts can help you with detailed information and great tips on:
To learn how to get the best finance for your property, please call Expert Finance Broker Eleanor Crosby on 0424 363 190 or click the button below:
Warning: This content is not designed to replace professional advice. It has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the advice, in light of your own objectives, financial situation or needs before making any decision as to whether this information is appropriate for you.
For more information on the buying process, see Affinity’s comprehensive web book:
See properties available for purchase on Affinity’s website. Alternatively, call us and we can discuss your plan for buying your first home.
Or, call us now on 07 3293 9100
