Finding the right property and making all the arrangements to buy it can take time. It’s a big financial decision so it’s important to make the right choice. It’s also a good idea to speak with property experts such as real estate agents, bankers and mortgage brokers.
Something often missed at the beginning is how you structure the property (ownership splits), this can have a significant impact at a later stage so is vital to be done correctly at the beginning with a longer term view taken into account at the start.
Before buying a home you should:
- consider the financial costs involved
- find the right lender and home loan and set this up correctly
- identify where you’d like to buy
- find the right house
- arrange building inspections
- think about how you’ll repay the home loan
- how the ownership is split (If applicable)
Buying your first home
- Am I better off renting than buying?
- How much can I borrow?
- How much deposit will I need?
- What additional costs will I be up for when I buy a place of my own?
- Are concessions for first homebuyers?
- What should I do with my money while I try to accumulate a bigger deposit?
- What types of loans are available?
- What should I look for in a loan?
- How do I find the right mortgage for me?
How we can help
- Work out how much you can borrow based on current financial capacity
- Calculate the deposit you are likely to need
- Identify the correct structuring/ownership on the property
- Identify strategies to save for a deposit in the timeframe you set
- Set a budget to cover your mortgage commitments when you have purchased your property
- Review, recommend and organise appropriate insurances
- Recommend if you need to create or review your Will
If you need help taking the next step, contact us today.
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.