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Insights

Buying your first home can be a very emotional and confusing process. Your aim is to find your dream home at a price you can afford and it can be challenging to make decisions based on logic rather than emotion.  Research is the key to finding the right home, the right loan and the right legal representative to guide you through the home buying process.

  1. Home – What do we buy? Where do we buy? How much should we spend? Buying your home is likely to be the largest purchase you’ll ever make so it’s important to make the right decision. Ensure you are familiar with current market trends and make certain the quality of the property is worth the price you are prepared to pay. It’s “BUYER BEWARE” so consider the need for pre-purchase property inspections, such as building inspections, pest inspections or a strata title report.
  2. Finance – Work out your budget and decide how much money you can afford to borrow. Talk to a mortgage broker or a lender to obtain pre-approval of your loan. Don’t forget to set a limit on how much you can afford to spend on your new home and stick to it.
  3. Government financial benefits – Do your homework to see if you are entitled to apply for various financial benefits offered for first home buyers. You could be eligible to receive an exemption or concession of stamp duty or the first home owners grant for new homes or you may be eligible to apply for the First Home Loan Deposit Scheme.
  4. Lawyer/Conveyancer – It’s important to seek legal advice on a contract for sale as the purchase of a property can be a rather complicated and overwhelming process. It’s vital to have professional and an experienced friendly conveyancer on your side.

At Kells, we provide a premium conveyancing service at a fixed price and are happy to answer any of your general or specific questions.

 

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