There’s no doubt about it – buying your first home is one of the most rewarding experiences of your life! However, it is an emotional journey. Here are 6 feelings you may experience as part of the purchasing roller coaster (buckle your seatbelts – it’s quite a ride!).
1) Excitement at the prospect of buying
You’ve been working hard to save a deposit and it’s finally time to purchase. When that time comes, it’s like someone has opened the door to a whole new world. And it’s an exciting place indeed! At this point, the anticipation is killing you.
2) Confusion about what exactly is involved
You’re a rookie, so of course the purchasing process can seem overwhelming and daunting. Where does one start? What kind of research is required? What type of loan is right for your needs?
Here’s a quick rundown of the steps involved:
- Apply for pre-approval
- Do your research and find the right home
- Have your conveyancer check the contract of sale
- Organise building and pest inspections
- Put in an offer or go to auction
- Finalise your home loan
- Do a final inspection on the property
- Move in!
3) Relief when you discover how we can help
Ahhh, you’re not in this alone. That’s right – we can walk you through the buying process, starting with the research component. Our free suburb and property reports offer a wealth of information, from details about capital growth and median values, to recent sales data.
Next, we’ll take care of your finance for you. We can:
- Explain your borrowing capacity (how much a bank will lend you)
- Arrange pre-approval on your finance (so that you’re ready to make offers or bid at auction)
- Explain loan features that may save you money in interest (for example offset accounts and redraw facilities)
- Line you up with the right home loan for your specific needs
- Take care of the paperwork for you.
4) Exasperation as you look for the right property
If you’re one of the lucky ones who finds the right property early, you may escape the exasperation stage altogether. However, if you find your weekends being consumed by inspection after inspection to no avail, it can leave you feeling exhausted and discouraged.
Don’t despair – your dream home is out there. Just remember, with every inspection you’re one step closer to the thrill of finding your very own pad!
5) Nervy during negotiations
You know when you’re at the top of the roller coaster incline and it’s about to drop? Waiting for a vendor to accept your offer or fronting up at an auction can feel a bit like that. There are bound to be butterflies in your stomach – just hold on tight and remember the best is yet to come.
6) Elation when the paperwork is signed and it’s yours!
There’s nothing as rewarding as receiving a shiny new set of keys and walking through the front door into your own slice of real estate. You’ve survived the journey and probably even enjoyed it! It’s at this point you’ll feel pure, unadulterated joy.
Buying your first home is an experience you’ll never forget. The thrill. The adrenalin. And the rush of emotions when it’s finally yours are hard to beat. If you’re ready to purchase your first home, please get in touch. Let us be your conductor; you just enjoy the ride. Download our first home buyer guide below or click here and we can start finding the right home loan for you today!
First Home Buyer Guide
Everything you need to know to buy a property in one easy guide. This guide is packed full of checklists and tools to help you make the right choice.
But the truth is, every additional percentage point in your home loan interest rate could cost you thousands of dollars every year… and as your home loan is most likely the longest loan you will ever have. If it was a short-term loan, it wouldn’t matter as much… but 30 years is a long time to be paying extra money if you don’t need to.
Real estate is expensive so why would you want to pay more than you have to?
Look at the two below examples:
|Term||30 Years||30 Years|
|Total Principal + Interest||$838,800||$890,640|
Total savings: $51,840
A difference of 0.5% in your home loan could end up saving you more than $50,000… which means you could pay it off faster! Like we said, it really adds up over 30 years.
What we’re trying to say is your interest rate matters. You don’t want to pay more than you have to… which is what we’re here to help with.
Our team of mortgage brokers have access to more than 40 lenders and are experts are finding the right lending solution for your needs.