First Home Buyers: Twenty Top Tips

Here are my top tips for first home buyers:

  1. Consider where you really want to live or invest in?
  2. Speak with a finance broker or your bank to know your borrowing capacity and finance limit?
  3. If you really like a block of land or house request the Section 32 from the estate agent be emailed to you and your legal representative
  4. Engage a Conveyancer or Solicitor to look over Contract of Sale & Section 32 on your behalf before signing or paying a deposit
  5. Is the house or land close to facilities, local transport, schools, shopping?
  6. Does the house have the right number of bedrooms, living to suit your needs?
  7. What are neighbourhood noise levels like and condition of homes around you?
  8. Does the house have good natural light?
  9. Will you need to do any renovations?
  10. Is there any sign of termite activity, best to engage a pest inspector?
  11. Are there any planned developments nearby, check with local council and speak with the planning department?
  12. How big a block of land would you like?
  13. If buying land ask a couple of builders to price a home on it for you and identify if any unexpected costs with site fall or soil type
  14. Does the property provide adequate parking space?
  15. What will some of the ongoing costs be such as land and water rates or any owners corporation fees?
  16. Check the title boundaries are as per plan of subdivision, yes get the tape measure out!
  17. If building your home engage an independant builder inspector for the progress stages to inspect all as per Australian Building Code
  18. If buying established home engage a licensed building and pest inspection report usually costs between $350-$500
  19. Don’t forget to claim your $20,000 first home owners grant after settlement!
  20. Relax, enjoy and celebrate your journey on purchasing your first real estate.

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Here’s some more tips for you! And some consumer advice.