If the thought of getting into the market is keeping you up, relax. It is normal. The fear of the mortgage. Banks saying no. Getting ripped off. It is a huge step. However the smartest move for your wealth. Owning a home is freedom. No landlord. Get a dog. It is yours.
The best spot for your first purchase. Why?. Prices are reachable. We have homes affordable options. Good luck finding that closer to town. It doesn't exist. Locally, you can get a house on land for an entry level price. We have fixer-uppers. The stock is here.
Don't do it alone. There are rules. Contracts. It is a maze. Brad Smith, I enjoy helping newbies. I explain things. I help. I want to see you win. Let's walk through the steps easily.
Overcoming The Financial Barriers
Saving the cash stops most people. Building the savings with high cost of living is hard. You must start. Or do you?. There are schemes. Low deposit schemes. A tiny deposit. Check eligibility. It might be possible sooner than you think.
Bank of Mum and Dad. Family pledge allow you to buy with no deposit if they have equity. It is a big ask. But it works. It saves you Lenders Mortgage Insurance (LMI). Lots of money. Explore this.
The old fashioned way, be disciplined. Sacrifice. Keep going. Moving in you will be proud. Keep saving. The house is there.
Talking To Brokers And Banks
Before you look until you have money. Go to a mortgage broker. A broker is better. They check 30 banks. They find the best deal tailored to you. Get an AIP. Confirmation you have the money a specific limit.
The benefit? Confidence. When you walk into an open, you are serious. Putting in a bid, You are a contender. If you tell me "I need to check finance," It is risky. A financed buyer wins the house.
No cost to you. They get commission. Make an appointment. It tells you your budget. Don't waste time if your limit is lower. Disappointing. Stick to the budget.
Understanding The Hidden Costs
The purchase price is not the only cost. Extras. Stamp duty. In SA, it is expensive. Know the amount. But, for first home buyers, no tax on new builds (rules change). Existing property, it applies. Factor this in.
Legal costs. Reports. Bank fees. Truck hire. Utility connections. It costs thousands. Have spare cash. Don't max out on the house. You need cash to settle.
Ask me. I can estimate the breakdown. I can recommend good inspectors. Be prepared. Knowledge is power.
Avoiding Rookie Mistakes
When you inspect, ignore the styling. Paint is cheap. Look deeper. Are there cracks? Look up. Check timber. Smell the air. Is it noisy?.
Stay cool with the cushions. Look for the layout. You can change the kitchen. You can't move the house. Your starter, value. The fixer-upper is the winner. Improve it. The perfect house costs top dollar. Be smart.
Get a building inspection. Do not skip this. Small cost. Saves disaster. White ants, find out before cooling off ends. If it fails, cancel (if conditional). Be safe.
Making That First Scary Offer
Putting it in writing is intense. The number? Don't offer too low. They ignore you. Don't overpay. Talk to me. "Where is the interest?." I can't reveal offers, I help. "If you offer $400k, you will miss out." Listen to the hints.
Put it in writing. Just saying a price are weak. Paperwork money talks. You are a buyer. It is tangible. Higher chance to sign. Do it.
If you lose, don't cry. There will be another. Move on. Did you hesitate? Offer more. You learn. Keep going. You will win. Let me assist. Hand over keys. It is the best feeling. Let's make it happen.
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