It can be an extremely exciting period in your life when you're investigating the options for your first home loan. After all, this is one of the biggest investments most people make in their lifetime – something that will change your life forever.
There are a number of things that first home buyers can do in order to help their chances of securing a great home loan and successfully purchasing their dream homes.
Like all big purchases, taking the time to thoroughly research is the best possible way to prepare yourself for what lies ahead. You should look into the trends of any markets you're considering to gauge the current real estate landscape and see if now is the right time to buy for you.
Figuring out the median price for homes sold in the area, as well as things like the auction clearance rate and buyer demand will help you to judge whether or not to take the plunge and enter the real estate market.
Furthermore, all of this research will help you to make the best decision about what type of home loan could be worth investigating. There are a wide range of options available to you, so taking the time to understand the various differences could be beneficial to your endeavours.
Finally, some states and territories offer incentives or discounts to first homebuyers that can be used to help you successfully purchase your first home. Generally, these come in the form of a First Home Owner Grant and can be put towards the cost of your property.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.