First home buying mistakes you can easily avoid
Once you’ve gone through the process of buying a home, it’s easy to spot the mistakes you may have made along the way. But as a first homebuyer, the mix of inexperience and the excitement of buying your first home can make you oblivious to some common mistakes.
Luckily, if you work with your builder they can provide some guidance and crucial advice about financing your new home. Let their experience help you make your first home buying process less stressful.
Check your credit
Asking your builder broker about getting a credit report prior to applying for your loan can be a great idea and a great investment. With close to 1 in 10 Australians having a credit listing that may affect the loan buying process, finding out where you stand financially couldn’t be more important. Not only can your builder broker help you check your credit to make sure you’re in good shape for your first home loan, they can explain all the details of your report so you know where you stand before you build.
Learn the Ins and Outs of Loans
Choosing a loan that is right for you and your family can be an intimidating process for the first-home buyer without the proper guidance. Learning about the different options available and which terms and conditions work best for your situation can be difficult for first homebuyers to face on their own. By speaking with an experienced builder broker, they can address your concerns and questions while ensuring you get the best loan and that fits your budget. By having the right financing and knowing your borrowing capacity, you can make your family’s new home possible without breaking the bank.
Get your pre-approval
When you start the process of looking for your dream home, it’s important to know your options for budgeting and planning. By speaking with an experienced builder broker, you can learn your capacity for weekly repayments and start the process of putting together the perfect house and land package right away.
At the WA Housing Centre, we think buying a new home should be a fun experience. So we’ve made the process as simple as 1, 2, 3! A little help can go a long way when you’re going in blind, so why not take our hand and we’ll guide you through every step of the process?
Plus, with the WA Housing Centre’s loan calculator you can find out exactly how much you can borrow to build your first home. And with Home and Land packages available from $230* a week, owning your own home has never been easier, or more affordable.