April 22, 2014
Everyone wants to own a home, but are you really ready to make the biggest financial move of your life? Preparing yourself for buying a home well before you start shopping around is the best way to avoid financial struggles in the future.
If you feel that saving up for a home is taking too long, government assistance may be available to help you as a first home buyer.
Getting ready to buy a home
The first step to becoming a homeowner is determining whether you're really ready to buy a home. Before you start attending ‘Open Houses’, it is important to:
- Determine the price limit of the property you can afford by analysing your household budget. Further, you will need to have a deposit and money to cover the initial costs.
- Develop positive saving habits before you purchase a home. As a homeowner, you will need to be comfortable paying your mortgage each month at the same time as other expenses. As such, getting a firm grip on your finances now is important to ensure that you're ready for such a major financial reprioritisation.
- Come to me to obtain a pre-approval for finance. The benefits of getting a mortgage pre-approval include determining how much you can actually afford to borrow and being able to make a solid offer when you find that dream home.
Government assistance for first home buyers
There are grants available for eligible first home buyers. The amount that you will receive depends upon where you live. Different grant limits apply based on whether you are building a new home or buying an existing structure.
Buying your first home is a major financial decision that should not be taken lightly. Government assistance may be available for eligible first home buyers, but I can help you understand the help that is out there for you when you're buying your first home.
If you want to learn more about your home loan options, call me on 5502 8906 or click on the 'contact us' tab at the top of the page