When you start planning to build a home with your partner, it could be the most exhilarating time of your lives, but if each of you has very unique tastes or ideas, the excitement can die down. However, that doesn’t mean you can’t prevent discord and misunderstandings. The first home buying experience can still be the best you share with your partner.
Here are some tips on how to avoid or settle arguments over home building and design with your partner: Continue reading →
With the median house price in Perth falling and staying lower than Sydney, Darwin, and Melbourne, several prospective homeowners are starting their shopping for a residential property in Western Australia’s capital city. Suburbs like Ellenbrook, Baldivis, and Canning Vale are among the most popular with sales soaring in these neighbourhoods.
Are you also a first-timer planning to build a new home? Make sure you know what to look for when purchasing house and land. Here are the top considerations to discuss with an established home builder in Perth: Continue reading →
If you’re thinking of investing in a home and land package in Perth, a construction loan may be the better loan option for you. Compared to regular home loans, construction loans are very much favourable for future homeowners who are building their homes from scratch because it allows them to draw money as is required while building, and interest is calculated based on the funds released. This type of phased payment approach allows a homeowner to pay only for what’s been built and not the entire home, as is the case with a regular home loan. Continue reading →
With numerous home and land packages in Perth for first-time homebuyers, it usually doesn’t take long for a determined buyer to eventually find a deal or arrangement that suits his needs. When you’re finally moving into your first home, you’re likely to remember the big things like a bed or couch, but there are a lot of things that you might not remember right away. So what are the little-big things that you need to do when you arrive at the new place? Continue reading →
You now have a stable job and a bright future ahead. If there is one thing your friends and family will keep pestering you about (apart from asking how soon you are getting married), though, it would be whether you already have your own home. Hopefully, you are reading this because you’ve carefully weighed your options and are now ready to take the first steps towards your first-ever home purchase.
Western Australia: A vibrant first-home purchase environment
A study from Mortgage Choice identifies Queensland and Western Australia as the two Australian states with the highest first home buyer activity. According to the study, first home buyers from these states accounted for almost 20 per cent of the loans for February this year. In contrast, borrowers from New South Wales accounted for less than 5 per cent of the month’s total.
According to a recent study by the National Australia Bank (NAB), first home buyers, even those in their 30s, are increasingly turning to their families to get on the property ladder. From 4.8 percent in 2010, 6.7 percent of first home buyers today are opting to use the NAB Family Guarantee.
In the 2015 fiscal year, 73 percent of the total number of NAB Family Guarantee users belonged to the 20 to 29 age bracket. Twenty-one per cent of the users were between 30 and 39. Even teens were in on the action, with 3 per cent of the users ages 19 and below.
Mark Bouris, executive chairman of Sydney-based wealth management company Yellow Brick Road, recently shared some advice regarding first-time home ownership: “Do what you can.”
Market forces will either play in or against your favour, and there’s nothing you can do to change that. If house prices are on the rise, Bouris writes, worrying won’t get you anywhere. Instead, focus on the things you can control—like adjusting your savings strategy and getting a more suitable mortgage—than try to change things you can’t.