Things to Do When Buying Your First HomeSeptember 15, 2021
Buying a new home is an exciting experience, especially when it’s your first time. It’s a huge step towards feeling more independent and secure. But just like any project big or small, buying a home entails a checklist or recipe to make sure everything goes as smoothly as possible. If you’re a first time home buyer, read on!
Plan out everything you want to see in your home
This is probably the most fun part of buying a home. After all, who doesn’t have some sense of what their dream home’s like since they were a child? And realising that you’ll be able to fulfill your dream soon can instantly make your heart flutter. So go ahead, list down everything you want in your home. Modern kitchen? 3 or 4 bedrooms? Alfresco entertainment area? Take note of each one. Searching for the best property for you is easier when you have an idea of what you want. However, keep in mind that you might have to adjust these plans later once you’ve set up your budget.
Plan your finances
Speaking of budget, buying a new home is a big financial commitment, so make sure that you plan everything ahead. Set a realistic budget and consider your long-term plans as well. Will you be able to afford the mortgage rates if you ever have a new kid, get married, or a new job?
Consider everything including the cost of deposit, stamp duty, legal fees, and even other expenses that may occur throughout the process. And of course, make sure that you take advantage of first home owner grants. You also have to find the right home loan for you. You can choose among fixed, variable, or split home loans. Each type has its own advantages and disadvantages depending on your capability. Talk to your lender in detail about this.
Use the first home owner grant
The cost associated with buying your first home can pile up. So government grants, no matter what the amount, can go a long way. In Australia, first home buyers can get up to $15,000 depending on the state and other criteria that you need to meet. Each state has their own rules so make sure to research yours thoroughly. For those in New South Wales, Australia, you may refer to our financing schemes guide here.
Decide: Tunkey, Home and Land Packages or Custom Homes?
Now that you have sorted out your finances, how do you like to buy your home? If you’re buying a new property, you can choose between turnkey homes, home and land packages and custom built. Turnkey homes are move-in ready and everything has been taken care of. If you want a stress-free experience, this is a good choice. However, if you want more freedom with the house’s design, you might prefer the other choices.
On the other hand, buying home and land packages is like having the best of both worlds. Everything has been taken care of but it still gives you the liberty of customising some items in your home. However, if you want to take care of everything or pay attention to the specific details, then custom-built homes are the way to go. Just make sure that you work with a trusted builder that listens to make sure that your home will be exactly just the way you wanted it.
Contact us and let’s build a home you’ll love
BuildQ Group is a trusted home builder with over 500 projects completed. We offer a 6-year structural guarantee and 100% customer satisfaction guarantee. Our state-of-the-art finish with high-quality premium inclusions make us stand out from offers by other builders. Contact us today and let us discuss everything you want and need in a home.
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