Isn’t it one of the most exciting things in life to look for that ideal home to buy? Specially if it is the home that you plan to live in.
However, before you dig too deep into the process, it may be wise to take note of the following tips.
Great Tips for Home Buyers
Find out what you can afford
By talking to a good mortgage broker before you even start looking to find a home to buy, will save you not only time, but disappointment as well.
Knowing what you may actually borrow, will give you a realistic understanding of what you can actually buy and in which area.
Each area comes with a different price tag and if you know what the amount is that you will be able to borrow, we’ll be able to tell you exactly in which areas you will be able to buy.
Research your Home Loan options
The home buyer today, has the great advantage that the home loan market is quite competitive. That is the other reason why it is best to work with a good mortgage broker. Somebody who will actually provide you with the right advice.
You will need somebody who will make sure that you get the right features and the best rates. As there are many different type of mortgages available, it is vital to find the home loan that matches your needs.
Take care of your debt
You may already have dept of some sort and may find it harder to get qualified for a home loan. Talking to a mortgage broker first, will help you in more ways than you may think. As some mortgage brokers may offer you advice on how to pay off the dept quicker or even in a more affordable way.
Get your deposit together
Your lender will love it if you already have a deposit in place. That means, provided you are employed or have a solid track record of your business, you may qualify for the loan in a short time.
However, if you are a first home buyer, some lenders will use the Government grant as part of the deposit.
Crunch your numbers
When buying a home will most certainly incur in a few surprising expenses.
- You will need to move to your new home
- Stamp Duty Costs, however, when buying a House and Land package, you only pay stamp duty on the land.
- Pest inspection reports (when buying a new home, you won’t need that)
- If you are a first home buyer, check if you are eligible for the first home owners grant and stamp duty concessions. If you are, you’ll save heaps by taking advantage of that.
Get expert help from the start
It important to have all the help that you possibly may need when you are serious about buying a home or an investment property.
We at “Buy Real Estate Australia” can most certainly help you with every step of your home buying journey by not only put you in touch with reputable builders, but also with experienced mortgage brokers and a conveyancer who will go over the contract for you before you sign it.
Decide on your home buying strategy
Maybe you would want to buy in an existing home in an established area. That’s all good….just bare in mind that you may need to renovate first or paint the whole house before you can move in. And don’t forget the building and pest inspections that may result in you deciding not to buy the house at all.
Or, maybe you would prefer to buy a brand new home. That may have a few disadvantages as well, however, the advantages are far greater.
- Well….it is brand new, and who doesn’t like new?
- You will pay stamp duty only on the land
- You get to choose the colour scheme of your new home (with house and land package)
- With the Fixed Price Turn Key House and Land packages that we offer, everything is included in the price. You just have to arrange the home loan, the conveyancer and move your belongings to your new home.
- The best advantage I would say, is the fact that you will have a home with at least 6 Star Energy Rating. Imagine the amount that you will save on your energy bill every year!
If you want to live in a brand new home with all these benefits, please fill in the form below so that one of our team members can ask you where you would want to buy your home.