Buying your first home can be the most exciting but daunting experience you’ll have in your life. We’ve noticed there is limited information on how you get from deciding you want a house, to actually buying one. Here’s our top tips which will help you get into your first home sooner:
1. Start by saving for a deposit. In Australia, it’s common to need a deposit of at least 5-20% of the property’s purchase price.
2. Get pre-approved for a mortgage. This will give you an idea of how much you can afford to spend on a property and will also make you a more attractive candidate to sellers.
3. Research different neighbourhoods and property types to find one that fits your budget and lifestyle.
4. Have a good understanding of the home buying process, including the legal and financial aspects.
5. Consider hiring a buyers agent to help you navigate the process and find properties that match your criteria.
6. Look for properties that have potential for future growth and development.
7. Get a professional home inspection to check for any potential issues with the property before you buy.
8. Be prepared for additional costs such as stamp duty, legal fees, and moving expenses.
9. Be prepared to move fast when you find a property you want to buy, as the competition in the market can be fierce.
10. Lastly, don’t rush into buying a home, take your time and be patient in your search, it will be worth it in the end.