New to homebuying? Learn expert tips and avoid costly mistakes through our First-Home Buyers Guide.
Home Loan Experts is here to provide you with information on what happens during each phase of your homebuying process. The tools and resources are there to guide you from the start of your home loan journey through to when you get the keys to your home.
The guide is divided into the following sections
- Preparing To Buy
- Choosing the Right Broker
- Exploring Government Grants and Incentives
- Property Search and Selection
- Home Loan Essentials
- Homebuying process
Preparing To Buy
So you’re thinking of buying a home? Well, what comes next? Or rather, what comes first? Find out below.
How Much Can I Borrow?
Knowing your borrowing capacity lets you negotiate and make offers confidently.
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Saving For A Deposit
Discover our expert tips for saving a home deposit and calculate your required amount with our handy calculator.
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Homebuying Costs
Understanding upfront costs as a first-home buyer ensures accurate budgeting and confident decision-making.
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Setting Your Homebuying Budget
To set up your budget, you have to develop financial habits that are crucial for successful home ownership.
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Start Putting Documents/Financials Together
Start compiling the documents required to get pre-approved for a mortgage, including proof of income and liabilities.
Learn more chevron_rightChoosing The Right Broker
Working with a mortgage broker can give you peace of mind as a first-home buyer, knowing you have an ally advocating for your best interest.
Why Work With A Broker?
Our expert mortgage brokers leverage their credit policy knowledge and strong lender relationships to streamline the home loan process.
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How To Choose A Mortgage Broker
Gather recommendations and research thoroughly to pick the right mortgage broker for your first home.
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Things You Need To Ask Your Broker
As a first-home buyer, asking your mortgage broker the right questions is crucial to gaining clarity and confidence.
Learn morechevron_rightExploring Government Schemes, Grants and Incentives
As a first-home buyer, you can take advantage of various nationwide and statewide government schemes and grants designed to help you buy.
Home Guarantee Scheme
This scheme offers three guarantees: the First-Home Buyer Guarantee, Regional First Home Buyer Guarantee, and Family Home Guarantee.
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Shared-Equity Schemes
Help to Buy is a nationwide shared-equity scheme. Each state and territory also offers its own shared-equity scheme or schemes.
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First Home Owner Grant
This is a one-off grant for first-home buyers who meet the eligibility criteria, which vary by state or territory.
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First-Home Buyer Stamp Duty Exemptions and Concessions
Stamp duty is a major cost for first-home buyers, but there are exemptions and concessions available across Australia.
Learn more chevron_rightProperty Search: Find The Right Home
When searching for the right home as a first-time buyer, it’s essential to consider factors like location, budget, size and amenities.
Types Of Property
The key to home loan approval lies in finding a lender whose policies align with the type of property you’re purchasing.
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Tips For Choosing The Right Property
Find out how to research and identify the property that meets your needs, budget and lifestyle preferences.
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The Location
Your property’s location is a critical factor to consider, as it directly affects your home’s value, desirability and lifestyle suitability.
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New Vs Old Properties
Weigh the benefits of new properties, like tax incentives and modern features, against the potential to add value through renovating an older home.
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Building Your Home
Effective planning and budget management at every stage of construction ensure your home is built on schedule and within budget.
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Property Inspection Guide
Our experts offer seven tips on how you can inspect the property to make an informed decision when buying.
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Renovate An Existing Property
Renovating an existing property presents an opportunity to personalise your home while boosting equity.
Learn more chevron_rightHome Loan Essentials
What you need to know before you start applying for a home loan.
Home Loan Types
From low-deposit to investment loans, there are different types of loans available to help you buy your first property.
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Understanding Interest Rates
Discover if you can get a lower interest rate on your home loan using our calculator.
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Home Loan Calculators
Our custom mortgage calculators provide insights into how banks assess your application.
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Home Loan Features
Understanding the different home loan features helps you maintain financial flexibility and maximise savings.
Learn more chevron_rightHomebuying Process
From preparing your application to receiving the keys to your first home, here are the steps that happen during the homebuying process.
Home Loan Application Checklist
The documents required to process your mortgage application vary depending on the type of loan. Here’s what you’ll need to provide your mortgage broker.
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Getting Pre-approval
Home loan pre-approval provides clarity on your borrowing capacity, which boosts your confidence during the home search.
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Making An Offer And Negotiating
Understanding the current market conditions and the seller’s motivation, among other things, will help you make a successful offer.
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Homebuying Contracts And Legalities
Before you sign on the dotted line, have an expert look over the Contract of Sale and check for easements and other disclosures.
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Fees And Costs
Buying a house involves more costs than just the purchase price. You need to be aware of various upfront and ongoing expenses.
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Home Insurance
A certificate of currency is an insurance document banks require when you are getting a home loan.
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Settlement
The settlement period starts when the contract of sale is signed and ends when the buyer gets the keys to the new home.
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