$200,000 to put towards your first Home?

13 May

Sound too good to be true? Well, it isn’t, noting that there are criteria you will need to meet to receive the funds. It’s mostly from government programs specifically aimed at supporting first-time home buyers.

It is definitely tough to become a homeowner for the first time in the Australian real estate market. Prices are higher than ever; consecutive interest rate rises and the cost of living doesn’t help. The big factor rising in the background is that there is pressure on available houses to buy, and this pressure is growing as the number of new houses being built is decreasing.

However, it’s not all doom and gloom. There are ways to deal with this very challenging situation:

Have a savings plan and a budget to reach your target. Your chances of succeeding without at least a broad plan is limited, and this is something everyone can do for themselves
Identify the different government funding programs available that you qualify for
Identify the suburb or area you want to focus your search on and the type of property, e.g., freestanding house, townhouse, apartment.
Find out what you can afford in terms of a mortgage and seek pre-approval.

I’ve described this process in very high-level terms, and to do this well, i.e., making an investment that will grow in value, there’s a lot more to it.

That’s why I designed a specific course, “Buying a Home”, to provide a comprehensive guide to assessing your borrowing capacity, what financial support is available, and identifying the right search areas for you and your budget, as well as seeking mortgage pre-approval. There’s also a Part B to the course about the actual purchase of a property and what to expect, the costs associated with purchasing and after you buy your first home.

Provide your email, and I’ll send you a PDF with the mechanisms that will help first time home buyers.