Finding Your Perfect Home
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Finding Your Perfect Home

Most first home buyers are very keen to find that perfect dream house that they have always imagined. However not all are realistic about the price, availability and affordability of such a property.

You must set a budget. No matter how great the house that you find – if it is outside your budget, you probably can not afford it. Remember that interest rates are very changeable in Australia. A repayment of $2500 per month, can easily go up to $2800 per month with only a single rate increase. Therefore less emotion and a cool head will be very helpful.

Firstly, identify the location of where you wish to live. A good location will mean you have a small amount of travel time to your work and to your children’s school. Do not make life hard for you and your family by buying a home that is so far away from your job or their schools.

Be sure that you can easily travel by car or public transport if required. Consider the neighbourhood for facilities and potential growth. Even your first home should be considered as an investment in real-estate. If property prices stay still in the area of your choice, it may be an idea to reconsider your chosen area.

It is important to make sure that the house you chose can allow you to live the lifestyle that you seek. A property which is suited to your activities and has lots of free space for your family members is a good thing.

Buying a house that has enough space will give you freedom and flexibility to turn those spaces into whatever area you may want it to become. Purchasing a house that can give you freedom to do your activities will be the best thing that you can do.

Remember to obtain a copy of the property title and seek legal advice prior to the purchase. It is quite possible to purchase a renovated home and then find out that the renovations or extensions were not authorised.

Before making a payment, do your homework. There may be road widening proposals, title limitations etc.