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Tips for Homebuyers
Congratulations! So, you've decided
to buy your own home. But what sort of home do you need and what
type of lifestyle do you want your home to provide? It all sounds
simple enough, and it is. However there are many things to keep
in mind when buying your home, not only based on what you need
now but perhaps also for the future. To help you decide, we've
created this handy checklist. It will help you to make the right
decisions and give you some useful ideas. So, before you go out
and buy your 'Welcome Mat' for the front door, please check out
the tips below.
Helping turn your dream home into
a reality
Many of us have an idea of the type
of home we want. However, once you start looking and end up seeing
endless homes and designs you can end up a bit confused, so here's
a helpful tip to keep you on track. Make what is called a 'Mood
Book'. This a scrapbook full of images of things you like about
a home, cut out and stuck in for future reference. Things like
you'd find in new home magazines or advertisements. It may include
pictures of a kitchen you like, window styles, paint colours,
floor coverings, gardens, etc etc. It doesn't have to be exactly
what you may end up with, it's just to create a 'feeling for what
you're looking for'. And if you decide to build a new home, it
will be a helpful tool to use in discussions with your builder.
Decisions
When you buy your home you decide such
things as:
- the town or suburb in which you want
to live
- whether you will care for a large garden
or a small one
- whether you will live near a primary
school and/or a high school
- whether you will be close to shops or
public transport
- whether you have a large house or a small
one
- whether you need to be near sporting,
medical or social facilities.
You will also decide whether
to:
- buy an existing house or unit
- buy a block of land and build a new house
- buy a house and land package.
Finance
You need to know:
- whether you are eligible to receive a Western Australian
First Home Owners Grant
- how much deposit you have to pay
- how much you can afford to borrow [which
might be less than the amount you are able to borrow]
- whether you want a smaller loan so that
you can either make smaller repayments or repay the loan more
quickly
- what additional costs you have to pay
- what will be the main costs of running
your home, for example, gas, electricity and maintenance
- whether you will have to pay for emptying
septic tanks or for connection to deep sewage
- how you will save money for council rates,
water rates and insurance
- whether you have to budget for a growing
family, a new car, furniture or school expenses
- how your home loan expenses will fit
in with your other expenses.
Discuss your loan with one of
our Mobile Lenders as early as possible in your home buying
process.
Selecting
your home:
- Look at several homes before you select
the one you want
- Resist the pressure from sales staff
who encourage you to sign quickly
- Do not be rushed into decisions about
which home or which builder.
Buying your home:
- Discuss any offer you make on an established
home with your real estate agent
- Negotiate, you do not have to accept the asking
price
- Check out similar homes selling in the
area for their value to ensure you paying a fair price
- Make sure that conditions in your offer
are clear
- When the owner signs the offer it becomes
a contract binding on all parties
- Ensure any offer is made subject to finance
from Keystart Loans Limited.
Building your home:
Many builders can help you through
the process of selecting the right home.
Deal only with a reputable builder,
if in doubt, check them out with the MBA (Masters Builders Association)
and the HIA (The Housing Industry Authority).
About to move?
Click
here to download a copy our "Change of Address
checklist" and "Handy Tips for Your Move"
leaflet.
Please note that this is a PDF document.
For more information on PDF documents, click on the PDF icon below.
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