Buying your first home is exciting and overwhelming at the same time, but with the right guidance you can give yourselves your dream home. Here are the major steps that you must know, and follow as a first-home buyer in Australia:
The very first step is setting up your budget and narrowing down the type of property you are looking for- be it a house, a unit, or an apartment.
Budgeting helps to narrow down your search for your dream home, as you would know how much you can spare for a deposit and the amount that you can borrow from the lenders by getting a pre-approval that indicates the latter as per your current income, debt and liabilities. Once you know your finances, you can choose the dwelling-type and explore different options available in the market.
2. Government initiatives
The government has always been encouraging Australians to get their first home sooner. The first week of June saw a new scheme being introduced, that is now giving an extra $25,000 HomeBuilder Grant for new homes and renovations to Australians. This scheme is available not only for first home buyers but also for properties that are owner occupied and not the investment properties.
To be eligible for this scheme, you must be an individual and an australian citizen aged 18 years or older. Along with this, your annual income should be less than $200,000 for couples, and less than $125,000 for singles.
You can avail this grant from the government if you are spending between $150,000 and $750,000 in renovations that were worth less than $1.5 million before, or buying a new home that includes land value and is less than $750,000.
3. Expert Assistance | Finding the Right Property
Real estate is a dynamic industry, and a routine market study is essential to conclude your major property investment decisions. As you plan to step into the market to buy your dream home, make sure to harness the expert assistance that you’d get from TRN Realty. We aim at helping our clients with the best advice and assistance to help you fulfill your dream to have your own home in Melbourne. We assist you in finding the right property as per your requirements. As a major real estate company in Melbourne, we help you find the right fit and conclude your search as a first home buyer!
Do not hesitate to contact us for your requirements today, and we will be happy to assist you.
4. The Final Step Towards Your Dream Home
Once you find the perfect home for yourself and your family, you can apply for an unconditional approval of the home loan and initiate the buying process, following which you will be one-step closer to fulfilling your dream of being at home. Depending on the kind of property you choose to buy, you can move into your first home and live your best life.
At TRN Realty, we understand the zeal of buying a first home and hence, we leave no stone unturned to assist you with the best property options that suit your needs and preferences. Feel free to have a chat with our experienced Real Estate Agents by calling us or visiting our office in Truganina.