If the thought of stopping renting is keeping you up, relax. It is normal. The fear of the mortgage. Banks saying no. Getting ripped off. It is a huge step. However the smartest move for your wealth. Owning a home is freedom. No landlord. Get a dog. You own it.
The best spot for your first purchase. Why?. Because we are affordable. It is possible to find affordable options. Look for that in Adelaide. Impossible. Here, secure a home a decent block for an entry level price. We have units. The stock is here.
You need help. It is complex. Conveyancers, forms. Hard work. Your local agent, I like starters. I have patience. Ask me anything. My goal is your home. Let's look at the process without the stress.
The Anxiety Of The Deposit Hurdle
The deposit is the biggest barrier. Getting that lump sum paying a landlord is hard. You must start. Or do you?. There are schemes. The First Home Guarantee. You might only need 5%. Talk to a broker. You might be ready now.
Parents can help. Parental help secure the loan zero cash using their house. It is a big ask. But it works. No need for wasted money. Huge savings. Ask about it.
If you must save, be disciplined. Sacrifice. Keep going. Settlement day you will forget the sacrifice. Don't give up. Your home is coming.
Sorting Out The Money First
Don't inspect without finance. Go to a mortgage broker. Brokers have options. They shop around. They find the best deal for you. Get an AIP. A document saying the bank will lend a budget.
The benefit? Confidence. Looking at a house, you are ready. When you make an offer, the agent takes you seriously. If you tell me "I need to check finance," your offer is weak. Ready money beats the others.
It costs nothing. It is free service. Make an appointment. It tells you your budget. Stop dreaming if you can borrow $400k. Disappointing. Know your number.
Understanding The Hidden Costs
The purchase price is not the only cost. Extras. Stamp duty. South Australia, stamp duty is high. Know the amount. Good news, for newbies, abolition of duty on new builds (verify this). On established homes, tax is due. Factor this in.
Settlement agent. Building inspection. Loan costs. Moving costs. Internet setup. It is pricey. You need a buffer. Keep a reserve on the deposit. Funds required for the process.
Talk to Brad Smith. I'll show you numbers the total. I know cheap conveyancers. Don't be surprised. Be smart.
What To Look For At Open Inspections
Viewing homes, don't just look at the paint. Styling goes. Look deeper. Are there cracks? Check gutters. Are the windows rotten?. Is it damp?. Traffic sound?.
Don't fall in love with the decor. Value the location. Renovate later. You are stuck with the street. For a first home, look for potential. The ugly house is the bargain. Make money. The finished one is expensive. Think value.
Get a report. Do not skip this. It costs $500. It saves you $50,000. If the house has termites, you need to know before you buy. If the report is bad, you can walk away (during cooling off). Don't buy a lemon.
How To Negotiate As A Buyer
Making an offer is scary. How much? Don't offer too low. You might miss out. Don't offer too high. Ask the agent. "What will buy it?." I might not tell you the exact number, I help. "If you offer $400k, you will miss out." Listen to the hints.
Make it formal. Talk are weak. Paperwork is powerful. It shows you are real. It is tangible. Higher chance to sign. Do it.
If you lose, don't give up. There will be another. Learn from it. Did you hesitate? Offer more. Experience helps. Persist. You will get one. Let me assist. Welcome you home. My favourite moment. Let's make it happen.
full details overview