If you are anxious about getting into the market is keeping you up, don't panic. I remember that feeling. Borrowing money. The fear of rejection. Paying too much. It is a huge step. Yet the smartest move for your future. Owning a home is security. No rent. You can paint a wall. You own it.
This town is ideal for first home buyers. The reason?. It is cheap. We have homes under $500,000. Try finding that in the city. It doesn't exist. But in Gawler, buy a property a decent block for an entry level price. We have units. The stock is here.
You need help. There are rules. Contracts. Hard work. Brad Smith, I like starters. I explain things. I don't mind the questions. I want you to own. Let's look at how to do it without the stress.
Saving Up That First Deposit
The initial money is the hardest part. Building the savings while paying rent is a grind. You must start. Maybe not. There are schemes. The First Home Guarantee. Just a small amount. Check eligibility. It might be possible now.
Parents can help. Family pledge allow you to buy without savings if they back you. Serious commitment. Many do it. It saves you Lenders Mortgage Insurance (LMI). Huge savings. Ask about it.
If you must save, be disciplined. Every dollar counts. It is worth it. Settlement day you will be proud. Keep saving. The house is there.
Getting Pre-Approved For Finance
Before you look until you have money. Go to a mortgage broker. Not just a bank. They shop around. Lowest rate for your situation. Get an AIP. Confirmation saying the bank will lend a specific limit.
The benefit? Confidence. When you walk into an open, you are serious. Negotiating, I listen to you. If you say "I need to check finance," your offer is weak. A financed buyer wins the house.
No cost to you. They get commission. Go see one. It helps you know your limit. Stop dreaming if you can borrow $400k. It is sad. Know your number.
Stamp Duty And Legal Fees
Buying a house is just the start. There are hidden costs. The big tax. In SA, it costs a lot. Check the calculator. But, if it is your first, no tax if you build (verify this). Old houses, tax is due. Budget for it.
Settlement agent. Pest check. Application fees. Moving costs. Utility connections. It is pricey. Have spare cash. Don't max out at the start. You need cash for the process.
Talk to Brad Smith. I can give you a rough guide the total. I can recommend reliable people. Don't get caught out. Knowing helps.
Inspecting Homes Without Rose-Coloured Glasses
When you inspect, ignore the styling. Styling goes. 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 cushions. Look for the land. Fix the bathroom. You are stuck with the street. For a first home, look for potential. The ugly house might be the best buy. Make money. The perfect house costs top dollar. Think value.
Get a report. Essential. Cheap insurance. It saves you $50,000. White ants, be aware before it is yours. If the report is bad, withdraw (during cooling off). Don't buy a lemon.
How To Negotiate As A Buyer
Bidding is intense. How much? Don't offer too low. They ignore you. Don't overpay. Talk to me. "Where is the interest?." I can't reveal offers, I give hints. "Look around $420k." Take the advice.
Sign a contract. Just saying a price are weak. Paperwork is serious. You are a buyer. It is tangible. They are more likely to accept. Be brave.
If it sells to another, don't cry. There will be another. Learn from it. Were you too slow? Be faster. You learn. Persist. Success will come. Let me assist. Welcome you home. I love it. Let's buy.
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