Are you ready to buy you’re first home?

Buying you’re first home is definitely a big and very exciting milestone in life, but the question is – ARE YOU READY?!

You will need:

• A substantial deposit, the bigger the better; recommended 20% of the purchase price + extra money to cover other costs such as settlement agent fees, stamp duty, pre-purchase inspections i.e. Timber Pest Inspection, RCD & Smoke alarm compliances
• Solid savings habit & track record of Employment will make it easier to get a home loan
• A budget – work out what you can and can’t afford after household & general living expenses
• PRE-APPROVAL! PRE-APPROVAL! PRE-APPROVAL! There’s no point putting in an offer and getting all excited if the banks aren’t going to lend you the money, once you’ve worked out how much you can afford get onto a Mortgage Broker & then seek pre-approval from the banks
• Some extra savings for any unforeseen circumstances that may arise after purchasing your first home

HAPPY FIRST HOME HUNTING!

For more detailed advice head to https://www.moneysmart.gov.au/life-events-and-you/life-events/buying-a-home