Guide To Buying Your First Home

December 18, 2015 - 3 min read

If you’ve been saving up to buy your first home, you may not know what to look out for and what to research. here our our 6 tips for young Australians who are ready to buy their first property.

Buying your first home is one of the most exciting—and nerve racking—challenges faced in adult life. If you’re finding yourself asking questions like: What’s a mortgage? How do I save? What am I looking for? Fear not! Check out our 6 top tips for keeping cool and collective when buying your first home.

Keep Your Eyes Open


With so many admirable houses on the market, it can be far too easy to fall in love with the first property you see. Don’t slip into this trap! During the process, you need to make sure you keep your eyes open, and if possible, your heart out—this will help you to clearly identify properties flaws and attributes, which in turn will allow you to make a clear and educated decision.

Top tip: Sometimes the property you least expect will steal your heart, so be sure to view as many types of homes as possible!

Know Your Market


If there’s one thing you should obsess over before deciding to buy, it ought to be learning about the market in which you want to enter. Markets can differ considerably from town to town, so it’s important to thoroughly study and understand how much property goes for in the area you’re looking to buy in.

Be Strict On Savings


Although it’s important to make sure you’re not starving your social life, being strict with savings is arguably the most important aspect to consider when buying. No savings equals no property. At the beginning of the process, sit down and thoroughly investigate into how much you can comfortably afford to save per month—and once you make a decision, stick to it.

Don’t Fear Finance


We’d be lying if we told you that buying your first home is a walk in the park. Taking on finance can be overwhelming, especially when you have no idea as to what it all means. Get your head around the digits by talking to an experienced mortgage broker—click here to find your nearest professional on LocalSearch.

Take A Steady Pace


Good thing’s come to those who wait—so don’t rush when it comes to buying your first home. From saving your cash and learning your market to making connections and organising finance, there are so many aspects to consider before calling the real estate agents. Stick to a steady speed and set yourself personal goals to achieve over a long period of time—this will ensure you’re fully prepared for what comes next.

Top tip: Don’t follow other people’s pace—only you truly know what speed is right for you!

Build Connections


Building connections within the property market is fundamental for anyone who’s looking to buy their first home. It’s important to talk to as many people in the industry as possible—this will help you to better understand what’s out there and how you can achieve it. Real estate agents are great people interact with, as they’re highly knowledgeable about their local area. Find your nearest expert on LocalSearch.

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