Buying a New Home

Tips for Buying a New Home

house_under_constructionBuying a property can be as exciting as it is terrifying, especially if it’s your first time venturing into the home-buying industry. We’ve compiled a variety of tips for buying a new home – all of which can help you to make sure that you get the best deal on your purchase, obtain the fairest mortgage and enjoy all that your new home has to offer.

Keeping your options open

If there’s one common mistake that many potential buyers make; it’s falling in love with the first house that they see. It’s so easy to look at a potential property through rose-tinted glasses, but in reality there will be hundreds of houses on the market at any given time; meaning that there’s really no reason to settle on the first viewing.

Keep your wits about you and your options open – after all when you find the property of your dreams you will undoubtedly know from the offset. The more homes that you view, the greater your skill at recognising faults and advantages will become.

Getting the right mortgage

Whether you do this first, or after you’ve found the home that you’ve been looking for – it’s important to source the best possible mortgage. You will be paying this amount off for years to come, so rushing in is never a good idea. Instead, approach a variety of bankers and lenders to see who is offering the most affordable repayment plan. You could always use a mortgage calculator to help you to budget, too.

Check if you’re eligible for a grant

If you’re a resident of Australia, then you may very well be eligible for a grant or reduction in your expenses. Check online to see if you are eligible and if you are, simply follow the application process to receive up to $7000 toward the cost of your new home.