Trying to buy your first home can seem overwhelming.
Article 1/6 in our First Home Foundations series.
There is so much to know: deposits, servicing, loans, land, and builders; it can get confusing very quickly.
First Home purchases aren’t straightforward. Many people in real estate or finance don’t really want to help First Home Buyers as for them, it’s a lot more work than a regular purchase. Often, the people who say they want to help don’t understand the unique challenges a First Home Buyer faces, and they can make life even harder than it already was!
The entire experience can make buying a home seem impossible.
The alternative of staying in a rental isn’t much better. At any time, rents can go up, or worse, you could be evicted. Your home is not yours; you have to ask permission to do anything. There’s no security, ownership, or permanence. It makes for an unstable and unknown future.
It doesn’t have to be this way. For First Home Buyers to get from where they are to building memories in a home they love, there’s five First Home Foundations that they need to understand:
- Affordability — Making sure your dream is realistic and achievable
- Preparation — Putting you in the best position to have your loan approved
- Network — It’s not how, it’s who
- Support — Accessing financial support to bring your dream forward
- Style — A home that matches your lifestyle
For most, knowing the foundations isn’t enough. You will need a guide and mentor to assist you to bring everything together. There are a lot of people involved in a First Home Purchase; the land agent, developer, broker, builder, and solicitor just to name a few.
It’s a little bit like an orchestra. Individually, all these people are great at what they do but the real magic is in getting them to work well together. To get this to happen, they need to be playing the same piece of music (The Five Foundations) and you need a Conductor to keep them playing in sync. If you get the conductor and the music right, not only is owning a home possible, it’s simple, it’s easy, and it’s fun!
Over the next five articles in this series, we will delve into how to master each of the foundations to help you eventually build memories in a home you love.
