Simple Guidelines for First Home Buyers
Updated: Apr 8, 2019
It’s an exciting and sometimes an overwhelming time. Buying your first home! For most it is uncharted territory so it’s easy to get caught up in the whirl of advise from friends and family along with real estate agents, builders etc.
So here are a few guidelines to help you on your way.
· Advice from Family and Friends:
Although those near and dear to you have the best of intentions, it always pays to get advice from an industry professional. Things change. What might have been applicable back in the days your parents bought their first home more than likely are different today.
Especially as you are a First Home Buyer, it is important to have a reputable, experienced mortgage broker in your team of professionals along with a solicitor OR conveyancer. With a good team to support you there are $$ to be saved and pitfalls to be avoided.
· Keep a lid on it!!
It’s so easy to get swept up in the excitement of buying or building a home and, particularly if you are building, adding in those little extras that eventually add up and increase your loan which in turn increases your monthly repayments. The last thing we want is for you to have a loan that you can’t afford.
Talk to us to get a picture of your borrowing power prior to choosing a property and avoid the disappointment of finding out you can’t afford what you’ve found.
· It’s not just the Loan Repayments:
An experienced Mortgage Broker, like us, will ensure that you understand ALL the costs that building OR buying your first home will attract. There is a lot to consider, your deposit, stamp duty, conveyancing fees, bank fees and so on.
On the flip side there are also concessions / grants that you may be able to take advantage of like the First Home Owners Grant. These can make it easier to buy your first home sooner than you thought.
· Which Loan???
It is mind boggling at times with the different mortgage products available in today’s market. And for the newcomer to home loan lending trying to choose the right product can be a daunting task.
This is where we are worth our weight in gold! It is our pleasure to talk with you, understand your story and where you want to go. Then to use that information to compare what is available and narrow down the best options for your circumstances.
And we don’t just leave you there. The Gadsden Finance team will be with you through until you move in and beyond. We hope to assist you with your finances now and in the future.
CONTACT GADSDEN FINANCE for a Free, no obligation chat to an industry expert with a wealth of experience and knowledge to help you on your way. (03) 5443 9098