First Home Buyers

The initial decision to purchase a home can be both exciting and extremely daunting. Receiving guidance can make it easier; by steering you through the home buying process, as well as assistance with government programs like the First Home Owners' Grant Scheme.

The steps for most first home buyers include Plan, Apply, Choose, Make an offer and Settle.

  • Plan:
    Choose a style of home you are looking for
    Go to a professional and work out how much you can borrow
    Save for a deposit (usually around 10% of the property price is required as a deposit)
    Consider – does the price range of homes you are looking for match your borrowing capacity?

  • Apply:
    Apply for a pre approval of your loan
    Talk to your mortgage professional about the costs of buying a home
    Select a solicitor or conveyancer
    Narrow your choice to a suburb or area

  • Choose:
    · Search for properties – internet, newspapers, real estate agents
    · Inspect many homes to ensure you have a good knowledge of what the property you want is actually worth
    · Select your home

  • Make:
    Make an offer on the home, ensure it is subject to finance approval and your satisfaction with the building and pest inspection
    Order a building and pest inspection
    Contact your mortgage professional and let them know you have found a house, they will arrange along with your lender for a valuer to value the property
    If the building/pest inspection or valuation do not come in to what you expected, remove your offer or change your offer accordingly.
    If your final offer is accepted arrange for payment of your deposit (either cash or deposit bond).

  • Settle:
    Your solicitor/conveyancer will perform a final search on your property and its title, remember to ask your solicitor to check for any road works, other construction – including developments that may affect your home in the future.
    Settlement will occur on a date agreed by all parties, the seller, lender and buyer, this is usually six weeks after the offer is made but can be amended if all parties agree.
    Organise and confirm your loan repayments Arrange for home insurance to begin on the day your settlement is to take place Relax and enjoy your new property!

If you want to know how much you can borrow, our supportive team has the GENUINE expertise, accreditation and experience to assist you with both home loans, car and business finance requirements.

Call Peter Earle today on (07) 3208 3888 or complete the above online enquiry form - we're ready to listen and give you the best possible advice on true rates, loan structure and service.

(source Professional Investment Services)

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