If the thought of stopping renting is scary, take a breath. It is normal. The debt. The fear of rejection. Paying too much. Major life event. But it is also the greatest thing you will ever do. Buying a house is wealth. No rent. You can paint a wall. You own it.
The best spot for your first purchase. Why?. Prices are reachable. You can still buy affordable options. Try finding that closer to town. It doesn't exist. But in Gawler, buy a property a decent block for an entry level price. We have fixer-uppers. The stock is here.
Don't do it alone. The process is tricky. Conveyancers, forms. Confusing. Your local agent, I love first home buyers. I will teach you. Ask me anything. My goal is your home. Let's look at how to do it easily.
Overcoming The Financial Barriers
Saving the cash is the hardest part. Saving $40,000 or $50,000 paying a landlord is a grind. It is necessary. Is it the only way?. Options. The First Home Guarantee. You might only need 5%. Check eligibility. You might be ready now.
Bank of Mum and Dad. Family pledge secure the loan without savings if they have equity. It is a big ask. It is common. You avoid the insurance fee. Huge savings. Ask about it.
The old fashioned way, cut costs. Every dollar counts. It is worth it. The day you get the keys you will forget the sacrifice. Don't give up. Your home is coming.
Sorting Out The Money First
Stop searching without finance. See a broker. A broker is better. They check 30 banks. Best policy for your situation. Get the green light. This is a letter you have the money a specific limit.
Why do you need this? Certainty. At an inspection, you know you can buy it. Negotiating, I listen to you. If you say "I haven't been to the bank," I can't accept. A financed buyer wins the house.
No cost to you. They get commission. Make an appointment. It tells you your budget. Don't look at $600k homes outside your range. It is sad. Be realistic.
Budgeting For The Extras
The purchase price is just the start. More fees. Government tax. Here, it is expensive. Calculate it. But, if it is your first, there is relief on new homes (rules change). On established homes, tax is due. Budget for it.
Conveyancer fees. Reports. Loan costs. Removalist. Utility connections. It is pricey. You need a buffer. Don't max out on the house. Funds required for the process.
Talk to Brad Smith. I'll show you numbers of what it costs. I know cheap conveyancers. Don't be surprised. Be smart.
Avoiding Rookie Mistakes
When you inspect, ignore the styling. Paint is cheap. Check the structure. Is it moving? Is the roof straight?. Check timber. Mold smell?. Listen to the road.
Don't fall in love with the vibe. Fall in love the land. Fix the bathroom. You can't move the house. Your starter, value. The ugly house is the bargain. Improve it. The perfect house costs top dollar. Think value.
Get a report. Must do. Cheap insurance. It saves you $50,000. If the house has termites, find out before it is yours. Major issues, withdraw (during cooling off). Don't buy a lemon.
How To Negotiate As A Buyer
Putting it in writing is nerve-wracking. What price? Don't lowball crazy. You lose. Don't waste money. Ask. "What will buy it?." I might not tell you the exact number, but I will guide you. "If you offer $400k, you will miss out." Read between lines.
Put it in writing. Just saying a price mean nothing. A signed contract is serious. You are committed. They hold it. It helps to accept. Be brave.
If you miss out, don't cry. Next one. Move on. Did you hesitate? Offer more. Experience helps. Persist. Success will come. I will help you. I want to give you the keys. It is the best feeling. Let's make it happen.
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