Buying a house in QLD can be challenging at the best of times. But with rising property prices and lower availability of land and existing homes, it’s getting tougher and tougher for renters to get into the property market. Luckily, Darren Walters, CEO and founder of No1 Property Guide, has some tips and tricks you can use to ensure you get the best chance at owning your own home here in the sunshine state.
Utilising his specialised no or low deposit system, Darren has successfully helped thousands of renters escape the rental nightmare. With QLD being a big focus of No1 Property Guide, Darren has seen the struggles many renters have when trying to buy a house in QLD. Which is why he put together this guide to give you the best shot possible of buying your new home.
Steps to Buying a House in QLD
If you’ve been looking at buying a house in QLD you’ve probably encountered some common issues. Things like finding a reasonably priced property, getting finance, learning you can’t afford your dream property, etc.
A part of the reason this happens so often is because many renters don’t follow our simple 3-step process. Which gives them the best opportunity of entering the market. Whether you’re buying an existing home or building your dream home through No1 Property Guide, the home buying process can be broken down into 3 simple steps.
If you follow these steps then you’re on the right path to becoming a homeowner.
Step 1: Discover your Borrowing Capacity/Borrowing Power
The first step for anyone looking a buy a home should be to discover your borrowing capacity. This will give you a rough idea of what you can likely afford. This is our first step at No1 Property Guide because we understand many people look at properties or areas that are simply out of their price range and end up disappointed. The best way to avoid this happening is by knowing your borrowing power from the very start.
This is our first step because it lets us get straight into finding the right new home for you.
Darren and our land acquisitions team have built relationships with every major developer and builder in QLD. Which means No1 can access registered land and estates earlier than the public. This allows us to get great prices for house and land packages.
Once you know your borrowing capacity, it’s time to move to the next step.
Step 2: Find Your Property & Organise Finance
Once you understand your borrowing capacity, it’s time to choose your new home and apply for finance. This could be a short or long process depending on what you’re looking for and where. If you’ve opted to build your new home using Darren’s no or low deposit system, this is where our New Home Specialists will find land in your desired area (or as close as possible). They’ll then package you with a new home build that suits your family and falls into your borrowing capacity.
Then, once you’ve found your new home or chosen your house and land package, it’s time to apply for finance. This is when our Mortgage Managers will get in touch and guide you through the system step by step.
If you’ve opted to buy an existing home, you’ll need to talk to your mortgage broker or chosen lender. You’ll also want to organise a building and pest inspection before signing the contract. This will lower the chances of you buying an existing property that has hidden underlying issues.
This is also where a credit check and financial assessment will be done to ensure you can service the loan. But when you’re following Darren’s system, you’ll find this step isn’t scary. His pre-qualification process has had a 90%+ success rate in getting applicants approved for finance.
Step 3: Build / Move In
Finally, once you’ve had your finance approved, found the right house and land package, or had the vendor accept your offer on an existing home, it’s time to build and/or move in. Honestly, this step is pretty simple for you. Your biggest challenge will be being patient and organising your furniture removalists.
If you’re building a new home in QLD, whether through No1 Property Guide or your own builder, you’ll generally need to wait around 3-5 months for your home to be built. This can fluctuate depending on weather and other circumstances. Don’t hesitate to maintain regular contact during the build, with either our New Home Specialists or you’re chosen a builder, to stay updated.
Is Buying a House in QLD with No Deposit Possible?
Absolutely! Thanks to Darren Walters’ unique no or low deposit system, buying a house in QLD with no deposit is more common than you might think.
Now that you know how to buy a house in QLD, it’s up to you to take the next step. Owning your own home gives you freedom and security which renting simply can’t provide.
While it can seem scary to take the leap into homeownership, Darren’s system will guide you throughout the entire process. From the initial enquiry all the way to the key handover.
Whether you’re a first home buyer or you’re looking to invest, buying a home in QLD is always an exciting venture. And the first step is to discover your borrowing capacity by completing Darren’s pre-qualification.
From there, our New Home Specialists will work with you to find a house and land package that suits your budget.