First Home/Property Buyers
So, you are here now because you want to purchase your First Home/Property.
Things to consider:
1. All the Hidden Costs of Purchasing and Sustaining your First home.
2. Preparation required to Qualify for a Home Loan from Lending Providers.
3. Getting the best Mortgage Rate and Terms suited to your circumstances.
4. Using a Mortgage Broker or Financial Planner in your First Purchase.
5. How to Interview Real Estate Agents to get them working with you.
6. Tips on what to look for when Searching for your First Property.
7. Understanding Government Grants, if available.
8. Investment or Principal Place of Residence.
With many years experience in the Property Game, we have learnt what we are not taught in the classroom.
We are conditioned to believe that the Dream is to Buy your Own Home. Most people don’t realise what this means becoming a”working class heroe” committed to paying off debt with interest, often resulting in paying three times the cost of the property for a very large portion of your life.
There are other options to explore and be creative with property, with less stress.
Profit is in the Purchase.
If you have any Questions or are looking for any Tips on Buying Property, please send us an email to arrange an appointment to have a chat.
For as little as R1250 we will clarify the process and assist you with a less stressful experience.
All you have to do is Have an Idea and we’ll Help you Prepare for it.
Some light reading below showing recent statistics and information for Buying & Selling Property.
Buyers 37 years and younger (Millennials/Gen Yers) is the largest share of home buyers at of which 65% of these buyers were also first-time home buyers. Up to 48% of this buyer group now have children under the age of 18 in their home. Agent was a friend or family member was most important to sellers 37 years and younger.
Buyers 38 to 52 (Gen Xers) consists of 26% of recent home buyers. They are consistent with their buying trends and demographics. Notably, they are also the most racially and ethnically diverse population of home buyers, with 26 percent identifying they are a race other than White/Caucasian. They are in their peak earning years and thus their incomes are the highest among all generations of buyer types.
Buyers 38 to 52 purchase the highest median priced homes of all other buyers and buy the largest homes in median square footage. Their housing preferences are driven by demographics, their convenience to job, also the quality and convenience of school districts.
Purchase has stayed similar to what buyers reported in past years, with 88% of home buyers financed their home purchase—a share that decreases as the age of the buyer increases.
Among those who did have debt, that debt hindered the ability to save for a down payment.
Student loan debt is one of the debts that buyers may have. In fact, 46% of buyers 37 years and younger that had debt, reported having student loan debt with a median loan balance of R250,000. This issue declines as the buyer’s age increases.
Buyers 38 to 52 have student loan debt, they have the highest median balance of debt at R280,000. This may be due to not only their personal educational loans, but accumulating debt from their children’s education loans.
Buyers 37 and younger are most likely to believe their home purchase is a good financial investment.
Findings from the National Association of REALTORS® Home Buyers and Sellers Generational Trends Report
If you would like more information on “How to Buy Property in Australia”.