How to get into your first home sooner
We know. Buying your first home can feel like it’s out of reach. But it doesn’t have to be. There’s a number of simple things you can do to speed up the process.
Browse through these simple tips and you’ll be choosing paint swatches and shopping for furniture before you know it!
Save, Save, Save
Yep. You’ve heard it before. And it’s hard to do when money’s tight. But there’s a few things you can consider. Start with the simple things, like eating out one night less a week. Buy one less round at the bar, or cancel a TV or music streaming service which you’ve stopped using.
Have you cut all extra expenses from your budget and that’s still not enough to save for a deposit? At WA Housing Centre we can help, for us no deposit is no problem. Click here for more info.
Get in early
When developers release new estates, they’re sometimes priced a little lower to get sales moving. You’ll often see prices creep up when new suburbs start to fill in and established facilities and parks are created. So, if you’re thinking of building, getting in early can potentially save you thousands.
Your first house doesn’t have to be your forever house. Getting your own place is a foot onto the property ladder and a big achievement. It’s okay to not have 5 bedrooms and 3 bathrooms from day 1. However, at WA Housing Centre we have a huge range of modern designs to suit everyone’s requirements.
Just make sure you’re happy with the repayments you’re making and have enough left over to live comfortably.
Haggle a bit
In property, everything’s negotiable.
Don’t be afraid to make an offer under the asking price. You can always increase your offer later. Who knows, you might even save a few thousand dollars by being cheeky.
It’s okay to ask Mum and Dad for help if you haven’t already. When you’re set to move out of home or you’ve had enough of renting, Mum and Dad may be able to help out a little.
In some cases, your parents’ home could be used as a guarantee on your loan. This can potentially save you thousands in something called lenders mortgage insurance or LMI.
Speak to someone about finance
Start to get your finances in order as much as possible. If you can pay down car loan or credit cards, you’ll quickly become more attractive to banks and lenders for a home loan.
Then, when you’re ready to go looking at places, talk to your lender about getting pre-approval. This means you know how much you can spend on a property and gives you more bargaining power.
WA Housing Centre has a range of specialists to help you get into a new house and land package quickly and easily and to guide you through the process.