Are you a first-time buyer eager to get into the property market? Buying your first home can feel overwhelming, but with the right first home buyers tips, you’ll be better prepared to make smart decisions along the way. In this post, we’ll cover essential tips to help you save, plan, and navigate the home buying process with confidence. And if you’re ready to take the next step, don’t forget to join the waitlist for my First Home Buyer Mini Course, launching this December! Not only will you get early access, but you’ll also receive a free budget template to help you save for your deposit.
1. Set a Clear Savings Goal
One of the top first home buyers tips is to set a clear and achievable savings goal. Most first home buyers need a deposit of around 20% of the property’s value, but there are options if you have less. The important thing is to know exactly how much you need and start saving with that target in mind. If you’re not sure how to structure your savings, I’m offering a free budget template to help you track your expenses and speed up your savings. This bonus is available for anyone who joins the waitlist for my First Home Buyer Mini Course—a great tool to help you stay on top of your financial goals!
2. Explore Government Grants and Schemes
Another crucial piece of advice when it comes to first home buyers tips is to take full advantage of any government grants or assistance programs available. In Australia, there are several options, including the First Home Owner Grant and various stamp duty concessions. These grants can save you thousands of dollars, in costs like Lenders Mortgage Insurance, which could significantly lower your overall buying costs. Knowing what’s available and how to apply for these incentives can make a big difference in your home buying journey.
3. Get Pre-Approved for Your Home Loan Early
Pre-approval is a vital step in the home buying process, and one of the top first home buyers tips I always recommend. Having a pre-approval gives you a clear idea of your borrowing power and shows sellers that you’re a serious buyer. It’s a competitive market out there, and being pre-approved can help you move quickly when you find your dream home.
4. Don’t Forget About the Hidden Costs
When offering first home buyers tips, I always remind people that buying a home isn’t just about the deposit. There are several additional costs, like stamp duty, legal fees, inspections, and moving expenses. It’s essential to budget for these hidden costs upfront so that they don’t come as a surprise later. A well-prepared budget will help you avoid financial stress down the track. We dive into these extra costs in detail in the First Home Buyer Mini Course, so be sure to join the waitlist to get access.
5. Build a Trusted Team of Experts
One final but important piece of advice among these first home buyers tips is to build a team of experts you can trust. Whether it’s a mortgage broker, a conveyancer, or a real estate agent, having experienced professionals in your corner will make the whole process smoother and less stressful. Remember, it’s your first home—don’t feel like you have to go it alone!
If you’re looking for more in-depth guidance and want to feel confident about buying your first home, sign up for the First Home Buyer Mini Course waitlist today. You’ll get early access when the course launches in December, plus a free budget template to help you kickstart your savings!
Call to Action:
Join the waitlist for the First Home Buyer Mini Course and receive a free budget template to help you save for your deposit. Sign up here!
Need to know more now? Book a free Online meeting with Maryanne today.