Buying your first home is one of your biggest life milestones, though it can equally become a big challenge considering how unpredictable Australia’s real estate market can be. You never want to be left feeling lost and confused. In this case, here are some simple steps to take to make it easier, including actionable advice from the best mortgage advisors in Perth and beyond.
Step 1: Evaluate Your Financial Health
Your financial state should be your first point of focus before you even begin to look for a house. Evaluate your income, expenses, debt, and credit to understand how much you can afford. Consider consulting a finance broker in Perth or a mortgage advisor in Claremont to get the bigger picture. It might also be the right time to look at non-secured business loans to pay for the down payment.
Step 2: Save for a Down Payment
The biggest issue for first-time homeowners is saving up for a down payment. Preferably, you want at least 20% of your home’s value to avoid paying Lenders Mortgage Insurance (LMI). Consult a financial mortgage broker for possible savings solutions and plans.
Step 3: Pre-Approved for a Mortgage
A mortgage pre-approval gives you an idea of how much you can borrow and signals sellers that you are a serious client. Check in with a refinance broker for all mortgage product differences to lock in the best rates.
Step 4: Know the Market
Conduct proper research in your desired areas to know how in demand they are because buying a real estate property is usually an investment. Local mortgage advisors can help you understand the market and the best time to purchase.
Step 5: Choose the Right Property
When buying your version of the Australian dream, search for location, size, amenities, and future resale ability. Do not forget property inspectors and real estate agents, and do connect with your mortgage broker or finance broker near you for evaluations and recommendations.
Step 6: Make a Smart Offer
Once you identify a property that meets your criteria, it’s time to make an offer. Your real estate agent will help you come up with a reasonable and competitive offer. Using an area-specific mortgage advisor, such as one from Peppermint Grove or Shenton Park, can also be useful to turnaround an offer that could potentially win out in the local offer race.
Step 7: Finalise the Sale
A few necessities will be required to finalise a sale after your offer is accepted. For instance, property inspections, contract review and approval on your end, and most importantly, securing financing. A mortgage refinance broker or an investment loan specialist can guide you through the complexities of closing the deal.
Step 8: Move In and Manage Your Mortgage
Last but not the least, the deal is closed, and you move into your new home. Further down the line, make sure to consider more extensive financial planning, such as refinancing at better rates. A refinance mortgage broker that solidifies your decision through expert advice is what you need.
Conclusion
Having your dream realised can be less challenging when you follow several correct steps while taking guidance from an expert. Thus, all you have to do is prepare correctly and trust in the experts. Broker Advisory Services offers services that will allow you to get the most personalised and advantageous offer in terms of your personal preferences and requirements, as well as provide you with the best mortgage advisors in all corners of Australia! More information is available on the official website, www.brokeradvisoryservices.com.au, or by calling 0414 900 990; the experts are just waiting to help you create the house of your dreams today!
