Category Archives for "First Home Buyer"

Increased Percentage Rate Of First Home Buyers

By Shane | First Home Buyer , News

A research conducted by CBA (Commonwealth Bank of Australia) has shown that 91% of First Home Buyers are confident that their dream of owning their own home is already within reach.

The percentage came from a total sample size of 1,012 home loan clients, including non-CBA mortgagors. The result from CBA, which gives an outstanding 91% only means that home ownership is now feasible. The research result has a significant difference in comparison to the research result in the previous year, in which 1 out of 5 Australians or 20% have said that home ownership is not feasible.

How Is It Hard To Buy A Home In Australia Nowadays?

By Shane | First Home Buyer

Purchasing a Home In Australia is often the single largest investment a person or family will make. However, the younger generations are giving up hope of ever buying their own home.

Buying A Home In Australia Reshapen By Younger Generations 

A report from the AIHW (Australian Institute of Health and Welfare) pointed out that the younger generations may be restricting themselves out of their market needs on their personal choices. Research shows these younger generations of Australians are living with their parents for longer because of the high cost of living, and they are getting crippled by debt. This is what Australia is experiencing right now, the change of generations when it comes to homeownership, with younger households being influenced by factors which limit their ability to become homeowners such as economic challenges, lifestyle choices, and work-home preferences.

How Will The Last Election Affect Australia’s Property Market?

By Shane | First Home Buyer , Home Loans

Housing in Australia is crucial to the economy’s growth and the welfare of the people. Australia is always a matter of the moment relating to the Property Market.

The housing finance industry had influence significantly the global market in the past decades. It is because of the increase in demand for housing and homeownership. However, in recent years, Australia has experienced a sudden decrease in demand in the property market.

First-Home Buyers Have Big Opportunities

By Shane | First Home Buyer

With home prices falling in the Sydney and Melbourne property markets first-home buyers could find some big opportunities, especially if they have their deposits ready now. Throughout this year, most real estate pundits believe property values in the capital cities will stay relatively flat in 2019, even though Domain’s Property Price Forecast(1) has some cities possibly posting modest gains. There’s also less competition for first-home buyers with many would-be investors having left the market after the banks tightened their lending practices and reduced opportunities for short-term capital growth. In this scenario, first-home buyers have an opportunity to buy a property before prices start to rise again.

The NSW First Home Owner Grant (New Homes) Scheme

By Shane | First Home Buyer

The First Home Owner Grant has changed numerous times over the past few years. In 2017, the NSW Government announced the First Home Buyers Assistance Scheme that offers stamp duty exemptions for first home buyers who buy a property worth less than a certain limit. Read this blog post to learn more. Also on offer is a grant for first home buyers who are looking to purchase a new home or build their home. Continue reading

2018 NSW First Home Buyers Assistance Scheme

By Shane | First Home Buyer

In 2017, the NSW Government announced that they would be making changes to the assistance that was available to first home buyers in New South Wales. Previously, there was a grant available to those home buyers that purchased a new property. Now, there are concessions on stamp duty for eligible first home buyers. Read on to learn more. Continue reading

How To Make Sure That You Are Ready For Your First Home Loan

By Shane | First Home Buyer

It’s always important to get a good loan and it’s particularly a big deal for first time home buyers. First time home buyers are often just getting on their feet financially. So, how do you make sure that you’re ready for your first home loan?

There are five questions to help you find out. These are questions that will determine when you should venture into home ownership. If you can’t answer yes to each of these questions, you’re definitely not yet ready for your first home loan.Continue reading

Get Into Your First Home Faster With A Family Guarantor

By Shane | First Home Buyer

Get into your first home faster with a family guarantor. It can be looked at as a no deposit home loan because you can have a family member to go as your guarantor without them actually providing cash for a deposit. They can use the equity in their family home as a guarantee.

The family guarantee allows parents and immediate family members to use their own home’s equity to provide additional security for a portion of the loan amount. It offers a solution which is particularly useful for first time home buyers. Not only that it reduces the loan to value ratio but also save you a significant amount of money by avoiding the need to pay Lenders Mortgage Insurance (LMI).Continue reading

Things To Consider When Buying Your First Home Off-The-Plan

By Shane | First Home Buyer

Property developers who construct apartments, townhouses and free standing homes often put their properties for sale before they are finished and even sometimes before they begin constructing the project. This type of sale is referred to as off-the-plan in which buyers can purchase their brand new home in advance.

Should you buy an established home or is buying off-the-plan a better idea? Perhaps, it’s one of the important considerations you’ll need when buying a property. While there’s an excitement of being the first person to live in the home with the privilege to choose your floor plan and colour schemes, there are also some common pitfalls that you have to be aware of if you intend to buy off-the-plan. There are many benefits in buying off-the-plan. However, first home buyers should also be aware of the possible risks that may arise.Continue reading

Why Your First Home Often Isn’t Your Forever Home

By Shane | First Home Buyer

When you fall in love with a home, you may envision yourself living there forever. First time buyers are particularly vulnerable to this phenomenon. Lives change, however, and believe it or not, take a minute to think about who you were or where you were just 5 to 10 years ago. You may have switched jobs or even professions. Your family may have grown and your neighbourhood may no longer remind you of the place you moved into a decade ago.

This isn’t to say you shouldn’t think about the future when you consider buying your first home. It’s just a suggestion to approach the process knowing that it can be your starter home and it’s one step closer to buying your forever home.

Continue reading