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Who are First Home Buyers? | Fast Repay Home Loan

Buying your first home can be a challenge. Don’t be overwhelmed with all sorts of offers and advertisements. It is critical to understand the difference between mortgage and actual loan programs.

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Who are First Home Buyers? | Fast Repay Home Loan

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  1. Who are First Home Buyers? • An individual who has not owned a principal residence before are first home buyers. • If you’ve owned a home but your spouse has not, then you can purchase a place together as first-time home buyer. • Buying your first home is a major financial decision so it’s vital to understand your financial duties and what help is accessible to you.

  2. 6 Things First Home Buyers should keep in mind • Hire an Agent • Don’t underestimate the cost of purchase • Get a loan • Take advantage of First Home Owner Concession Grant • Negotiate • Property Inspection

  3. Hire an Agent • An agent has all the new listing coming up in the market in the near future. • An agent can do the visits for you which in turn can save time for you. • Agents are good at negotiation, its their forte. • An agent can spot over priced listing and advise you accordingly.

  4. Cost of Purchase • Calculate your total cost before you make an offer. • There will be lost of hidden costs, sort it all out thoroughly. • Never underestimate the total costs of purchase, as it can cost you dearly.

  5. Get a loan • Pre-approve a loan in advance, this can provide you a clear picture of how much can you offer. • Ask your agent for a referral to mortgage broker or with a bank. • List out the mortgages available and compare them carefully.

  6. First Home Owner Concession Grant • It is a government initiative to assist people in buying their first home. • It can save you significant amount of money in duties and fees. • You can visit FIRST HOME website to check out various details for each state.

  7. Negotiate • An agent will compare the sales price of a home to other homes. They can provide comparable sales and examine the pending sales. Consult with your agent for a reasonable price range. • An agent can provide comparable sales and examine the pending sales. • Consult with your agent for a reasonable price range.

  8. Property Inspection • Inspect the property carefully before making an offer. • You don’t want to be locked into buying a home that has faulty foundation. • Inspect for molds and other, and calculate the cost it may take after taking repair in consideration.

  9. Conclusion Buying your first home can be a challenge. Don’t be overwhelmed with all sorts of offers and advertisements. It is critical to understand the difference between mortgage and actual loan programs.

  10. Fast Repay Home Loan 1/2 Garden Road CLAYTON VIC 3168 PO Box 5560 BRANDON PARK VIC 3150 Phone: 1300 707 955 Fax: 1300 707 988Email: info@fastrepayhomeloan.com.au Website: http://fastrepayhomeloan.com.au Thank you

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