Buying your first property can be a nerve-wracking process. Complicated terminology and high house prices make securing your dream home seem more like a nightmare than anything else. If you follow the right steps, talk to the right professionals and stick to your plans then you can be opening that door sooner than you might think. To help you unlock the secrets to first home buying and the door to your brand new house, we have compiled the top 5 keys to property success for first home buyers.
Make a Budget (and Stick to It!)
This is possibly the most common piece of advice when it comes to purchasing property and making a budget has never been more important. To get into your new home you’re going to need to put down a deposit and that means having disposable funds, ready to go. Making a budget doesn’t need to be painful. Start by looking at the unnecessary purchases that keep cropping up and cut them out first. Things like making your own lunch rather than buying it can go a long way to saving for that deposit.
Go Loan Shopping
In order to make an effective budget you will need to know exactly how much money you’re going to need. Finding the right loan can make or break your home buying experience, so don’t just settle for your current bank as a lender. Make sure you do your research when it comes to mortgages to ensure that your decision to buy remains a good one in the long term.
Find the Right Property
Finding the right property means a few things – and not just which one has the most stylish interior. You need to make sure that your brand new home doesn’t have any hidden surprises, is in the right price range and is convenient for your needs. Subscribe to real estate alerts and explore your local neighbourhoods. This is also a good time to start taking care of the legal side of things. Contact a conveyancer who can take care of the process of transferring the property over to you.
Take Advantage of the First Home Owner Grant
The first homeowner grant will give a boost to your funds and help you get into your first home faster. You should get in early with this application, lodging around the same time you apply for your loan. It can be submitted and processed quickly through most lenders.
Contact a Conveyancer
We’ve mentioned it before, but this is a big step. A conveyancer is the legal expert who will make sure that your property is truly yours. There are plenty of things to take care of when you’re looking for a new home and a conveyancer can take care of all the contracts, forms and other jargon that would otherwise hold you back. When it comes time to negotiate and sign your contract you will already need a conveyancer on your side, so the earlier you contact them the better. Once you’ve found a property you’re interested in it’s usually a rule to give your conveyancer a ring.
Of course, conveyancers are great for all aspects of property transfer, including selling. If you’re thinking of buying or selling in Adelaide and you want to make the process easier, contact the team at Conveyancing Centre. As experts in all things property in Adelaide, Conveyancing Centre can navigate the tricky legal aspects of your purchase, and get you a great result faster. For a simpler process and a better result call 08 8374 4711 today.