Are you a first home buyer looking at some of the great house and land packages in South East Queensland? The area has become one of the nation’s property hotspots in recent years, so we can understand why! Perhaps you can’t wait to get away from renting and paying off someone else’s mortgage and are looking for your own property independence.
Many have gone through this process before you. So, to help you out we have compiled a list of the top 5 first-time home buyer steps to take and what you should be aware of before you embark on your homeownership journey.
Or, if you’re ready to take that first step towards owning your own home, fill in our pre-qualification form and one of our New Home Specialists will be in touch to discuss your next steps.
1. What’s Your Borrowing Capacity? (What Can You Afford?)
What type of house and land package can you afford? It’s important to understand the costs involved in homeownership. Find out if you are able to get a home loan and how much the monthly repayments will cost you.
Our simple pre-qualification form is the easiest way to accurately assess your borrowing capacity. All without needing a credit check or formal application.
2. What are Your Lifestyle & Living Requirements?
Are you ready to buy a house in one area? Make sure where you buy suits your lifestyle needs and requirements. For example, if you plan on living in a remote part of the country, you will need to factor in transport to school and work.
However, be prepared to add some time to your daily commute if it’s going to mean you become a homeowner. If the choice is adding 15 minutes to your daily commute, or being a renter forever, which is more important to you?
3. Don’t Forget Legal & Added Costs
Are there any added costs attached to homeownership that you need to pay before you can move in? For example, is the build contract 100 per cent fixed price full turnkey? And don’t forget about stamp duty, conveyancing, building and pest inspection and solicitor fees!
At No1 Property Guide, we ensure you’re fully aware of any legal fees and charges you’ll need to pay before you begin the formal application process. In many cases, we can help organise the paperwork and provide referrals so you can be ahead of any charges that come your way.
Read More – First-Time Home Buyer Steps to Take:
- What is a Comparison Rate?
- Using an Interest Only Home Loan to Get Your New Home
- What Is Equity in Property & How Can I Use It?
4. Understand The Homeownership Process
It is important to do the research prior to deciding on homeownership. Not only should you understand the process but also the terms used. We believe every renter should be fully educated before making the jump into homeownership. That’s why we guide you throughout the process and ensure you’re kept informed of every step.
5. Talk to a Specialist
Once you’ve determined that you want to be a first home buyer, it’s time to talk to a specialist. At No1 Property Guide, we specialise in no or low deposit house and land packages, designed to help you achieve your homeownership dreams.
We co-ordinate the entire process. Including finding land, designing floor plans and even helping you with applications for the First Home Owners Grant if you’re eligible. Darren’s no or low deposit new home system is a full step-by-step process which allows our clients to fully understand where they are at each step.
Interesting in finding out how we can help you in your journey to becoming a first home buyer? Then fill in our pre-qualification form! From there, one of our New Home Specialists will give you a call with all your factual new home options.
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