First Time Home Buyers Grant

First Time Home Buyer

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Being a first time home buyer can be very daunting… you may be asking yourself where to start! It can all be very confusing as this will be, if not the largest purchase you make.

However first things first, how much can we afford? No point window shopping when you don’t know what your budget is. So time to check out finances. I would recommend contacting a mortgage broker as they often will get you a better deal with the bank then when you visit them yourself. So if you have someone who can recommend someone to you, then you’re off to a good start.

Ok.. Mortgage broker who are they you might be thinking!! A person or company that arranges mortgages between borrowers and lenders, they show you all the banks products, while a bank will only show you their product. So basically it saves you from going to all the banks and helps you to speak to someone to find the best mortgage that suits you. Once you have spoken to your mortgage broker, and he has managed to get you pre approved, you now know your budget, so let’s go shopping.. 🙂 Hold on… let’s stop and think first! What are our plans for at least the next 5 years? Do we want a unit, townhouse, house or new build (house and land package) Are we eligible for the first time home owner’s grant? https://firsthomeowners.initiatives.qld.gov.au/

Remember when buying an established home, that is older than 2 years or has had a previous owner, you will not be eligible for the grant. However developers are making it easier and easier for the first time home buyer to build their first home.

Most offering $1,000 fully refundable deposit to hold a package.

Let’s not forget if you are looking at an older property, it is likely that you will be getting a bigger block for your buck, so you’ll need to way up your options.. New house with FHOG, with smaller block, plus warranties, or older house on larger block with no warranties.

As you have always heard, and nothing has changed Location, Location Location is important. Please, please, please do not cut your cost when it comes to your conveyancer!

Conveyancer you ask! Conveyancing is the branch of law that deals with the transfer and ownership of property. A conveyancer, as such, is someone who will act both for and with you when it comes time to purchase, sell, transfer or subdivide real property. They will do searches for you, as you don’t want to purchase where it floods, or a major development happening in the near future that will decrease the value of your new purchase.

So good luck hunting for your first property, if you have any questions or need help, just drop me a message/call, always happy to help.

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To book a suitable time to meet and discuss how we can assist, contact the number below.

Anne Harris - Realtor and Consultant

Anne Harris Real Estate Sales and Marketing

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