Getting Started

  • Getting Started

    Set Goals
    Finding the perfect property requires a lot of research.

    • As a rule of thumb, minimum 10% of the total value of the property should be used as a start of the basis for   savings so you will need to an idea of the price of the property you want to buy.
    • As a guide, your repayments shouldn’t exceed approximately 40% of your after-tax salary.
    • Potential to save after the mortgage repayments is worth aiming for and is ideal to plan for long term investment   strategy to build a nest egg and net wealth.

    Plan a Budget
    The deposit amount should be the first step in your budget analysis.

    • Our home loan calculators can give you an indication of how much a bank will lend you.
    • However, it is important to understand what portion of income (e.g. ongoing living expenses) goes towards    various items and potential savings .
    • Our advisors will consider your unique personal circumstances and likely expenses to give a comprehensive   assessment of your borrowing capacity and calculate the total cost of purchasing a home.

    Understand the costs
    Gaining comprehensive knowledge of buying a home early in the process will ensure you have enough savings and won’t be left with unexpected expenses later on.

    • Consider additional costs as stamp duty, legal costs, registration fees, inspections and moving costs.
    • You may be eligible for the First Home Owner Grant http://www.osr.nsw.gov.au/grants
    • Refunds of State taxes in certain circumstances.

    Organise your information
    Being organised at an early stage will allow you to be more confident when you apply for a home loan and look for your first home.

    • Be aware of your credit rating so you can work toward improving it if necessary.
    • find a good solicitor or conveyancer to support you through the process.
    • We can help you organise the other necessary documents.

    Contact our advisors for more details

    Contact us for an obligation free appointment