Buying your first home can be a very confronting process. Understanding complicated real estate terminology is no easy feat – and as investing in a property can be very expensive, it is critical that first-home buyers are well-researched and know the necessary steps before making the leap. Look no further for your comprehensive guide to finding, saving and buying your first home in Perth.
Determine Your Budget
Carefully assess your expenses and income so you can set the most realistic budget for your lifestyle. Once you’ve calculated your personal earnings, you’ll be able to understand how much money you will need to borrow to achieve a feasible property purchase. Don’t forget that you will also need to pay stamp duty on the property – which, in WA, is due once the sale or transfer of funds for the property takes place.
Land Or Build?
The option to buy brand new or buy land and build a house from scratch is a tough one – and one that should definitely bring government incentives, demand and investment potential into the picture. Doing your research in this avenue could prove invaluable as there are definite advantages of both options that should be taken into serious consideration.
Visit Home Opens
It’s definitely worth shopping around before making the final call on your new property purchase. Before embarking on home opens, take the time to write a list of your non-negotiables, desires and additional aesthetics that belong in your dream home. Even if not all of these are met, it will ensure that your standards will be set in advance of viewing a variety of properties.
Once you’re at a home open, trust the expert and ask the real estate agent plenty of questions. Also, be sure to assess more than just the house’s interior – consider location, close facilities, neighbouring properties and more.
Invest in Inspections
If purchasing an existing property (rather than plot of land), it is absolutely essential that it is inspected for faults or problems. Building, electrical, pest, strata and land inspections are vital to ensuring your new investment won’t contain any hidden surprises that could hinder your move-in date and beyond.
For support on your journey from savings to settlement, trust ACTON. ACTON has been a dominant player in the Perth property market for the past six decades. With a team dedicated to going the extra mile for their clients, and with offices conveniently located across Perth and regional WA, there is bound to be an ACTON near you that is ready to help get you settled into your dream property. Call 08 9386 1808 today to get started!