First Home Buyer

First Home Buyer

Regardless of the heated property market, the great Aussie dream is still alive. The dream of home ownership is popular and here to stay. It’s easy to get overwhelmed by a 20% deposit and where on earth do you start?

The best thing to do first is talk to a home loan specialist or mortgage broker like Mortgage24.

We can help you understand your options and answer any questions about the home buying process.

With some research, clear goals and a bit of determination, the goal of buying your first property is very achievable.

Here’s the Mortgage24 step-by-step process to buying your first house.

How to buy your first house

Learn the process and set your goals

The very first step is to learn about the homebuying process and setting your goals. When do you want to buy your house? Within the next year? 3 years? Do you want to live in it? Is it going to be an investment or do you want to ‘reinvest’?

Weigh up your options

There are lot of different property types available to first home buyers. New, established, fixer uppers, apartments. Then there is the big question of whether you want to live in the city or go regional. All have their pros and cons.

Now is the best time to figure out what you want so you can save accordingly.

Pay off your debts and start saving

Now’s the time to get to your finances in order. Pay down any outstanding debts and start saving towards your house deposit. Depending on what state you live in, you may be eligible for first home buyer grants. Check these grants out on your state governments website.

Find a broker

Once you have a decent deposit saved up, it is time to visit a mortgage broker like Mortgage24.

They can help you crunch the numbers, learn about the different types of loans and get pre-approval.

That way, you know exactly what your budget is and can house hunt with confidence.

Start house hunting

The fun part. Attending open inspections, auctions or even meeting with a developer to buy off the plan. If you find a property you like, you can submit an offer.

Make an offer

Now the serious part, preparing a formal written offer with your agent. If your offer is accepted, you can pay the deposit and start applying for a home loan with your lender or mortgage broker.

Applying for a loan and preparing for settlement

This is when brokers like Mortgage24 come in and do all the legwork. We can help you apply for a loan and get ready for settlement. We ensure constant communication to make this process as smooth as possible for you. This is also the time to reach out to your conveyancer or legal representative to be there for settlement day on your behalf.

Move in to your dreams!

Yay! It’s finally time to take the keys and move into your new home. Your days of saving for your deposit are behind you. Now’s the time to stay on top of your mortgage.

It’s best to keep in touch with your broker. Mortgage24 is always there for its clients to ensure they stay up to date with the best loans on the market.

Getting your foot in the property market

The good news about looking for your first home is you may be entitled to better interest rates than investors! But that doesn’t stop lenders flooding the market with hundreds of different loans and features. How can you figure out which is the best loan for you?

The good news is Mortgage24 is here to break down the options and help you find the best deal for your first home. We are finance lending experts and can do all the loan paperwork for you. Our strong knowledge and relationships with lenders has given us access to a large database of loans, giving you the best chances in finding the right loan for you.

If you are in Australia and thinking of buying your first home, contact Mortgage24 today!

First Home buyer

First Home Buyer

How to buy your first house

Getting your foot in the property market

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