The world of real estate might seem like a giant, intimidating puzzle when you’re in your twenties and looking to score your first dream home. But no worries, Mosaic Settlements have got your back! With the right game plan and a sprinkle of knowledge, you can totally boss the first-time home buying adventure. Check out these tips that’ll make this journey a breeze.
1. Dive into the Research Pool 📚
To be a real estate champ, you’ve got to be a research ninja. Get ready to Google your heart out! Here’s your homework:
- Get the lowdown on the government first-time homebuyers grant to see if you are eligible.
- Uncover all the other government incentives that might save you some cash (for example, the Home Buyers Assistance Account.)
- Study up on the real estate market – trends, prices, time on market.
- Scope out the neighbourhoods you fancy. Keep tabs on how much homes are selling for.
- Keep an eagle eye on those interest rates. They can make or break your deal.
2. Money Moves 💸
Before you can even think about locking down that pad, your finances need to be on point. Money, money, money! It’s a big deal, so do this:
- Know exactly how much you can spend on your first home. That’ll decide your monthly payments and the down payment.
- Chat with a reputable mortgage broker. They’ll dish out professional advice you might not have even thought about.
- Once your budget’s in the bag, get that home loan pre-approved. It’s like a golden ticket to make the buying process zoom along.
- Pro tip: More deposit = Less borrowed money = Quicker path to home sweet home.
3. House Hunting 🏡
With the cash situation sorted, you’re free to hunt for your dream digs. But be a savvy hunter! Here’s the checklist:
- Stick to your budget! Overspending is a no-go.
- What’s your vibe – apartment, house, or villa? Make up your mind.
- Decide if you’re willing to renovate an older property or if you want something shiny and new.
- Remember, location is everything. Think schools, shops, and how close you are to catching public transport.
- Be Sherlock Holmes about the neighbourhood. You want to know everything about your soon-to-be stomping grounds.
- Take your time! Finding the right pad might take several months. Don’t rush – this is a big deal and likely to be the single biggest financial commitment you’ll ever make.
4. Don’t Skimp on Inspections 🔍
Here’s a rookie move you want to avoid: not getting a building report or pest inspection before making an offer. It might cost a few bucks, but it’s like buying insurance for your sanity. Be sure to know about any lurking problems before it’s too late!
5. Additional Costs Alert 💰
Beware of the additional costs associated with buying a home. Set aside some cash for these services:
- Conveyancing fees
- Property valuation fees
- Stamp duty
- Landgate and PEXA fees
- Moving costs
- Insurance
- Council, water and strata rates
- Connection to utilities
Mosaic Settlements are the Smart Choice for First Homebuyers 🏆
So, there you have it! These tips should help you navigate the wild world of first-time home buying. Share your first home buying experience with Mosaic Settlements – we’re all in this together, reach out to us today so we can help you navigate such a fun ride! For smooth residential settlements Perth first homebuyers highly recommend, look no further than the professional conveyancing team at Mosaic Settlements. 🏡💪💸
