Everything You Need to Know Before Purchasing Your First Home

Buying a home is an exciting, and terrifying time for first-time owners. However, most of the anxiety comes from the fear of the unknown. Thus, you ought to create a plan beforehand so you know what you’re getting yourself into.

To make sure you make the most of your purchase, and dot all of the i’s, here are some things you need to consider beforehand.


1. Make Sure It’s the Right Time to Buy a House

A lot of homeowners get sucked into the fantasy of buying a property, and they want to do it as soon as possible. However, when an investment is as important and expensive as this one, you have to consider whether now’s the best time to make a purchase.

Firstly, even though you may be ready to pack your bags and move to your forever home, the housing market may not be on the same page as you. If the prices have recently skyrocketed, or there’s not enough available real estate, it may be best to wait it out.

On the other hand, you shouldn’t force yourself into a purchase just because “it’s the buyer’s market”, or the mortgage rates are low. 

You should only buy a home if you feel that it’s the perfect one for you, and you’re ready to put down your roots there. 


2. Work Out the Finances

You must be realistic about your finances when purchasing a home. See how much you can afford out-of-pocket, and the amount you’ll need to take on as a loan. Also, give your budget some room to breathe, just in case the interest rates rise and your loan repayments go up.

When it comes to the loan itself, you will need to do some serious shopping around and negotiating. Talk to at least a couple of lenders about the loan and the interest rate they can offer you. 

The offer you’ll get mostly hinges on your income and commitments, the house deposit, as well as your credit report and score. 

Finally, keep in mind that the interest rate can make or break you in the future. Buying a house is an expensive, long-term commitment, so you need to be sure you will be able to afford it no matter what.

Pro tip: Enquire about the incentives available in the state you’re buying the home in. They could save you thousands of dollars. 


3. Find the Perfect Home

Once you’ve sorted the logistics out, it’s time to move on to the exciting part — looking at houses. You could start by browsing properties online, and get in contact with the real estate company once you have a clearer idea of what you’d like.

You could narrow your search to specific areas or property development companies to ensure you’re not overwhelmed by the offers. In the case of the latter, it’s best to rely on recommendations and reviews to ensure you’ve found a trustworthy developer.


Final Thoughts

Buying a new home doesn’t have to be nerve-racking and stressful. As long as you plan ahead, you’ll be able to set yourself for success and make sure your new home is everything you wanted it to be and more.

Australia’s Premier Suburbs That Have Something to Offer to Everyone

During the last few years, so many of us have begun to consider diving into the suburbian waters. With the development, growth of the real estate market, etc, they’re just as comfortable and convenient to live in — at a fraction of the price. 

What’s more, different suburbs have something to offer to anyone. To help find the perfect location for you, we’ve created a list of the top three premier Australian suburbs.


Palm Beach — Luxurious Living

Palm Beach (or Palmy as it’s locally known) is one of the most exclusive, affluent suburbs in all of Australia. With a population of around 2,000 people, it provides the perfect getaway from the loud city hustle and bustle. 

Despite the somewhat pricey real estate, Palm Beach is a heaven for all sorts of artists. Writers, directors, musicians, and others have long since been inspired by the suburb’s glorious views and natural wildlife. 

The residents and tourists can also take advantage of numerous fun activities. Whether you prefer golfing, surfing, swimming, or just lounging around in the sun, Palm Beach can keep you busy and entertained.

Not to mention, there are plenty of famous attractions, most notably, the Barrenjoey Head Lighthouse, Blueberry Ash, as well as the luxurious Iluka Resort Apartments.


Tarneit — Booming Real Estate Market

Tarneit is located only 25 km from Sydney CBD, and it’s the up-and-coming suburb Kiwis are looking to. Back in 2016, it had a population of almost 35,000 people, and some estimates say that this number will almost double by 2031.

 What was once a grazing land, is now considered an urban hotspot, and it attracts people from all sorts of backgrounds. If anything, it’s a bit more popular with workers, and young families, thanks to its location and great schooling system.

Additionally, Tarneit is quite well-connected to other cities and suburbs, as it comes with a great system of train and bus lines. Moreover, the Wyndham Bus Networks went through a couple of major upgrades in order to ensure everyone has a quick and easy commute. 

That being said, possibly the best thing about the suburb is that the real estate market has managed to keep up with the demand quite well. Most notably, house and land packages Tarneit are cheaper than in most Sydney suburbs, with rents and mortgages coming in below the national median.


Manly — Beach Lover’s Paradise

This beach-side Sydney suburb is located only 17km from the CBD. It has long been established as a tourist spot, mostly due to the high cost of real estate here. With all of this in mind, it goes without saying that Manly is very popular with all sorts of people, from travelers to home buyers and investors.

However, despite the costly homes and rentals, there were around 15,000 people living here in 2016, and this number has likely grown exponentially since.

After all, what’s not to love? Long stretches of clean, sandy beaches, clean nature, and diverse wildlife. Additionally, there are several yacht clubs, over 20kms of cycle tracks, as well as a fascinating cultural life. One of the most popular events is the International Jazz Festival, held in October. 


Final Thoughts

As you’ve hopefully figured out by now, Australian suburbs have something to offer to anyone. Whether you’re on the lookout for inexpensive real estate in Tarneit, or a luxurious beach-side property in Palm Beach, you’ll surely be happy living in any of these suburbs.