Home Buying for Beginners
There is a time in most of our lives when buying a home seems like the next logical step, however, learning exactly how to do this can delay the process considerably. If you’ve never bought a home before, it can be daunting trying to work out where to start but it’s not as complex as it seems - you just don’t know how to do it yet!
What to Buy
The main things you need to consider are what kind of home you want to buy and how much you can afford to spend. Do you want an apartment or a townhouse? A duplex or a family home? If you’re a young professional do you really need a 4-bedroom house? Similarly, it may not be realistic for empty nesters to buy a small open plan studio, if one of them works from home for example.
Where to Buy
The location is just as important as the type of property you choose and both of these decisions should take your lifestyle into account, so doing some basic research will ensure you get it right. It’s easy to end up in an ugly property on the coolest street, because that’s what everyone else is doing and there’s no point having a gorgeous house in the countryside if you never get to see it because of the commute to and from work.
Finding Your New Home
Once you have the type of property in mind and the locations you prefer, you can start to look at what’s available and get closer to finding your new home. Websites such as firstnational.com.au provide easy search functions to help you understand the types of properties available in the areas you prefer and what the price ranges are. The research process will help you to narrow down your choices and give you a realistic idea of what to look for.
Becoming a Home Buyer
Now that you have educated yourself about what to buy and where, and you have a sense of what your budget is, you’re ready to become a home buyer! At this stage, it’s useful to get advice from people who know more than you do. Family and friends who have already bought a home, are a good start, as is your friendly local First National Real Estate agent. An agent can give you up to date information about the locations you’ve chosen, investment advice for those areas and be a sounding board for you with regard to setting realistic expectations around your choices.
Where should I start ?
Your very first step, however, should be to download and read our comprehensive Home Buyers Guide that covers the whole process from researching to moving in. Good luck!