5 Top Tips for Buying Your First Home
Updated: Dec 27, 2021
Once you decide to buy your first home, do not rush. It is now time to do proper research. Why? Because buying your first home is complex. It is better to learn as much as you can before you sign the contract. You can even work with professionals to save time and money.
Here are 5 top tips for buying your first home:
1. Set a Limit on How Much You Want to Spend
You will need to consider the upfront and ongoing costs before you buy your first home. In most cases, you will need money upfront to buy a home. So, you will need to know the exact amount you will have access to. If you are borrowing the money, you must borrow enough money to finance the home purchase.
2. Location is Key
You must consider the location of the home and the position of the home within the suburb. The location of the home can impact the value of your home in the future. If you want to live close to your friends, family and work, you must pick the right location. Do not forget to check the available amenities in the location you are keen on.
3. Find Out If You Are Eligible for Financial Assistance
If you do not have enough funds to buy your first home, you can check if you are eligible for financial assistance, including:
First Home Owner Grant – If you are buying your first home, the government may offer you a one-off grant if you satisfy eligibility criteria.
Stamp Duty Concessions – If you are buying your first home, the government may also offer you additional incentives. The additional incentives may involve stamp duty concessions.
4. Make Your Contract Work for You
You must inspect the home before purchasing it. Once you find several homes, visit them and inspect them. If the home you are keen on needs some renovations, do not sign the contract. Instead, ask the seller to inspect the property and do the necessary renovations. If the sellers renovate the home, it can save you more money.
5. Work with Experienced Professionals
If you are buying your first home, then you are about to make one of the biggest purchases in your life. If you make one mistake, you can lose your savings. It is better to hire an experienced, reputable and licensed agent. The professional will ensure you get the best deal.
Need more information? Contact Us
It takes time and energy to find the right home. But working with professionals increases the chance of buying the right home. So, if you want to buy a home or property in Perth, Western Australia, then contact our Baldivis real estate agents at Advantas Property Group to assist you with all the above-mentioned areas.