Buying your first home is always a hot topic in Australia. Often thought to be out of reach for many. However this is not always the case.
Making smart decisions with your savings and the type of property you purchase, finding the right mortgage and seeking to use the incentives made available by the State Government, you can finally get out of the rental cycle and find a location to call your very own.
Our First Home Buyer’s checklist is your step-by-step guide from that first dollar saved to settlement and being handed the keys. Everyone’s journey is different, but being informed and ensuring you are making the right decisions along the way can make years of difference in finally being handed the keys to your very first home.
Born and bred in South Australia, The Ouwens Casserly Group is responsible for over 1000 residential and development real estate Adelaide sales per year.
Plan For Your First Home (Not Just Your Dream Home)
First, you need to know what you’re looking for. What features are a must, what can you live without? Don’t focus on the location or price, start to see the sort of lifestyle you want to create for your home.
Discover Which Grants You Can Access
Do you know how and when to register for the First Home Owner’s Grant? What about its value? And are you eligible for the Off-The-Plan Concession? There are grants on offer to complement your savings and reduce the size of your mortgage.
Understand Your Mortgage
Saving a deposit is important, and the first step in securing your dream home. The next step is your mortgage. Take your time shopping around. Discover your best options. Make sure you do the research - search online, meet with the bank. Seek out a mortgage broker. Before you start to look, get pre-approved so when you find the home you love, you are in a position to make a serious offer.
You know what you want in your house, but have you ever researched what sort of land title will suit you best? Learn about the opportunity of purchasing an older home, and the ease of newer, move-in-ready locations. Find out about the difference between apartment living, townhouses and units. Learn about the council rates in the area. Be informed.
Seek Legal Advice
Have a conveyancer (or even a lawyer) at the ready to provide advice on contracts and guide you through the house-purchasing process.
Get To Know The Steps To Purchase
When you make an offer, what happens? Could your offer be beaten by another purchaser? What are your rights during the cooling off period? These are important things to ensure that purchasing your dream home can be a streamlined process, as opposed to a drawn out drama.
Be Prepared For Additional Costs
When you buy your first home, you can also expect to pay:
Connection of your utilities
You’ll need to ensure they’re in your budget, otherwise, you may get stung with a nasty surprise or two.
As real estate experts and industry leaders in South Australia, our team at Ouwens Casserly are here to guide you through the stages of getting into your first home.
We love watching dreams become reality. We strive to ensure that you’re getting the best possible service while you’re on the house hunt.