Can You Afford Your First Home

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Can You Afford Your First Home?
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Thinking About Buying Your First Home

• If youre thinking about buying your first home,
  theres no better time to act.
• With Perths property market favoring buyers and
  interest rates at record lows, youre in a better
  position than ever to achieve your dream of home
  ownership.

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• Here Are Our Top Five Tips For Getting Started

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Everything In Moderation Including, Moderation

• You dont have to sacrifice your entire lifestyle
  to save up for your deposit, and in fact youre
  likely to be better off if youre still enjoying
  yourself at least a little!
• Its important to make it a realistic amount if
  you aim to save too much and try to live on
  two-minute noodles, you wont stick to it.
• Weigh up the lifestyle you want versus what you
  really need maybe that morning coffee is a
  necessity, but youre not using that gym
  membership anyway.

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Manage Expectations

• Even in a buyers market where you have your pick
  of properties, it can be challenging to keep an
  eye on what you can afford. Dont fall into the
  trap of unrealistic expectations about the number
  of bedrooms or stunning waterfront views.
• Try not to be too restrictive, and consider
  looking at properties that you can adapt how you
  like later.
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• Its more important to get your foot in the real
  estate market door in a good location than to
  hold out for your dream 5 bedroom 3 bathroom
  house with a scullery!

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Buy Smart For Long-Term Gain

• You have a list of the most important things to
  you, and undoubtedly an idea of the ideal
  location to begin your new phase as a homeowner.
• However as with your expectations of the house
  itself, you need to be realistic and smart about
  the location.
• By adjusting your rose-tinted glasses and keeping
  your budget firmly in mind, you may find that
  your ideal property, in the ideal suburb, may not
  be your first home, but it wont be out of reach
  forever.

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Be Careful With The Fhog

• At present, Western Australias first home owner
  grant only applies to new builds, aiming to
  stimulate new housing.
• While understandable from the governments point
  of view, it can deter those who are relying on it
  from considering lower-priced, second-hand homes
  in superior locations.
• If accessing the FHOG is critical to your budget,
  one option is to buy a new apartment. You could
  still benefit from the FHOG, while getting into a
  good area, close to amenities.

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Get In Early

• We have said it before and its worth repeating
  success in real estate comes down to time in the
  market, not timing the market. The sooner you
  purchase your property and the longer you hold
  it, the better it can perform as an investment.
• The same goes for saving money. If you have been
  taught early in life about saving, and made the
  effort to regularly hoard a portion of your
  pocket money, by the time youre in your early
  twenties, you should have a decent deposit. Even
  without that head start, the sooner you begin,
  the better off youll be.

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Check These Out!

• Property Wizards is a multi-award winning buyer's
  agents and property advisors. From finding the
  right investment property, to researching and
  negotiating the best price, we work for
  Australian property investors and homebuyers, as
  well as overseas and expat buyers.
• We provide you with the advice and assistance you
  need, ensuring you make the right decision when
  you choose to invest in a property. We take away
  the stress of property buying, we save our
  clients money and we help make people
  independently wealthy.
• For more info on property developers perth
• check out https//www.propertywizards.com.au/