If you’re looking to buy your first property, understanding the upfront and ongoing costs are an important part in determining if you are ready.
Entering the property market as a new buyer can be quite daunting, but a little guidance from industry experts will make this big decision less stressful.
So, in order to shed some light on your journey, we thought we’d offer these three helpful hints to get for first home buyers looking to own their first home.
Know Your Financial Situation And Set A Budget
The first and most important step to owning a home is reviewing your financial situation. Having a clear picture of what you can and cannot afford before you make any substantial investment decisions, will make your homeownership journey a lot easier.
If you’re looking to apply for a home loan, your answer to the following questions could present obstacles.
- Do you have any existing debts? e.g. car loan, credit card or student loan
- Have you experienced credit issues in the past?
- Do you have any outstanding bills or repayments due?
At QLD Property Group, our team is very familiar with the home loan qualification process and have a panel of expert brokers who are experienced in efficiently handling and managing applications of all types.
If you would like to assess your eligibility for a home loan, click here. Once you receive the outcome to your financial assessment, you will have a better understanding of your purchase ability.
Discover What Government Assistance Can You Access
As a first home buyer, you will have access to many levels of Government support, with the most common incentives being:
- QLD First Home Owners’ Grant;
- First Home Guarantee;
- Family Home Guarantee;
- Regional Home Guarantee; and
- Stamp Duty Concession.
If you’re new to the property space, do as much research as you can through industry professionals, family, friends and looking on reputable sources to see what financial assistance you may be eligible for.
Work With An Experienced And Reliable Industry Professionals
Our final recommendation for first time buyers is to seek advice when you need it. There is a reason industry professionals are so skilled at what they do, and it’s because they’ve helped thousands of buyers before you, reach their property goals.
As a first home buyer, it’s expected that things might feel daunting, but it doesn’t have to be. At QPG, we provide the ultimate first-time buyer service with our exclusive First Home Support Program.
The QPG First Home Support Program aims to improve the financial situation of our clients to meet the standards of banks and lenders (not our own!). Our program will get you into the home you can’t afford, at a price you can.
Enquire here to join our program and to receive a FREE Financial Health Check.