Top Tips To Buying Your First Home

Buying your first property is both exciting and daunting. Here are some tips from people who have been through the journey

1. Know the true cost of property – Knowing the maximum you are willing to spend on a house or apartment is one thing, understanding the true cost of the property is another. Make sure you take into account stamp duty, mortgage insurance, loan application fees and legal costs.
2. Take advantage of government incentives – Check out the varying State Government incentives, including the First Home Owner Grant and stamp duty concessions, and the Federal Government’s First Home Saver Account scheme.

Clients are often unaware of the full extent of the incentives available to them to save for a deposit and then to buy their first home. The rules are constantly changing and vary from state to state.

1. Get your cash flow under control – Set yourself a savings goal and then a budget that will get you there. Make sure before you borrow that you have demonstrated (if only to yourself) the discipline to make the mortgage payments.
2. Select a home loan that is right for you – don’t just select the lowest interest rate; think about the right mix of variable and fixed rate loan, flexibility with your loan period and whether you need a redraw facility.
3. Review insurances. Before you settle on your  mortgage, it is important to review your  life, TPD, income protection and trauma cover to make sure it is adequate to cover mortgage payments

If you require legal services to have your Contract of Sale reviewed, please call our In House Solicitor, Sarah Hatch on (02) 9411-4161 or email sarah@taurusfinancial.com.au

Taurus Mortgage Services Pty Ltd, is available to assist you raise a Competitive and appropriate Mortgage Facility to finance the purchase of your new home.

Contact - Gordon Hatch on (02) 9411 4161 or email gordon@taurusfinancial.com.au for a free no obligation Mortgage Assessment. 

Securitor Financial Group Limited is not responsible for advice provided by Gordon Hatch/Taurus Mortgage Services Pty Ltd and by Solicitor Sarah Hatch of Hatch & Associates Pty Ltd.