First home buyers | Mortgage Broker in Oran Park, Picton, and Menangle
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How to prepare for your first home purchase
When you’re ready to buy your first home, it’s an exciting time that should be celebrated throughout the entirety of the process. However, to make sure that your first home purchase is as seamless and easy as possible, it’s important to know what steps you’ll need to take and how to prepare accordingly.
Before you start, it’s important to have a detailed understanding of your current financial situation, including a clear outline of what your income and expenses are on a month-to-month basis, so you can determine your budget.
From there, it’s recommended to set a goal of what type of property you’re wanting to buy, and what your non-negotiables and negotiables are. If you have a large family, for example, having an abundance of individual bedrooms may be a priority, whereas for couples, a cheaper price point may be more of a deciding factor.
Whatever your circumstances, it’s always recommended to visit your local broker as a first step. Brokers are here to help assess your finances, put forward a variety of options relevant to your circumstances and goals, establish a helpful checklist to go check off throughout your home ownership journey, and much more.
Dean Gee is your local Mortgage Choice broker for Oran Park, Picton, and Menangle, and is available to help start your property ownership journey whenever you’re ready.
Call Dean directly on 0418 206 337 to own your first home sooner rather than later.
Help for first home buyers
If you’re looking to buy your first home in NSW, you will most likely have access to the First Home Owner Grant (FHOG).
The FHOG is a grant designed to help those looking to enter the property market by subsidising the costs, in alignment with a few stipulations, including:
- If you purchase a newly built property (house, townhouse, apartment, unit or similar), the purchase price must not exceed $600,000.
- If you purchase vacant land or sign a building contract with a builder, the total cost of the purchase must not exceed $750,000.
- If you purchase a home that was substantially renovated by the seller, the purchase price must not exceed $600,000.
You may be eligible for the grant if:
- The seller, builder or tenant has not lived in the home before, during, or after renovations
- It is the first time the home has been sold since the completion of renovations
The FHOG may be paid in addition to other exemptions or concessions for eligible home buyers.
For more information about the FHOG, reach out to Dean Gee on 1300 256 770 or visit the Revenue NSW website.
As your mortgage broker for Menangle, Dean can assist with a wide range of property and finance topics, including but not limited to:
