We'll help you move in sooner.
Buying your first home can be overwhelming, but that's why we're here. We can help you sort out the most important details, find you the best deal and get you into your new home sooner.
We'll help you move in sooner.
Buying your first home can be overwhelming, but that's why we're here. We can help you sort out the most important details, find you the best deal and get you into your new home sooner.
To begin with, you will need to work out approximately how much you can afford, based on your income and the size of your deposit.
Your income will determine your borrowing ability. A general rule is the bank will use 35% of your income for servicing a home loan. So if your repayments are within 35% of your income then that's a good start.
Find out what I can borrowOnce you have calculated how much you can afford you will need to start saving for a deposit, if you haven’t already got one. The bigger your deposit, the easier it will be to get a pre-approved loan from the bank. But before we get into all of that, it’s time to get in touch with a mortgage broker, we will work on your behalf to get the best deal for you
from the bank.
Once you have pre-approval, you can safely start looking for a home within your pre-approved budget. Remember that when you’re buying your first home, it probably isn’t going to be your dream home, but it will be an important step on the property ladder, so it’s important to make a sensible choice.
You may be ready now! Click below to evaluate how close you are from owning your first home.
If not:
Visit the house at different times of the day to see how it compares with your buying checklist.
Engage a lawyer as soon as possible. They should check any agreements before you sign them, and take charge of any change of ownership paperwork.
It is essential to understand the value of the property and any potential issues that may arise. You can do this by getting a valuation, builders report and LIM report.