Professionals Real Estate With property prices rising across Australia, it’s lucky that Adelaide and South Australia have a ‘steady as she goes’ market. However, these tips might assist First Homebuyers who are considering their first property purchase:
- Buy within your means so you are not a slave to your mortgage repayments, which should cost no more than 30% of your after-tax income.
- Your first home doesn’t need every bell and whistle. Don’t overlook older, possibly run-down properties. If three bedrooms is sufficient for you, don’t buy four
- Focus on paying the mortgage as quickly as you can. Even if interest rates drops, keep paying the same rate as you were (if you managing this)
- Don’t spend windfalls. Your tax refund can go off the mortgage
- Do your research: consider your long-term employment prospects, transport, and (if you plan to have children) schools etc before you choose your location
- Take a look at the options of house and land packages with a first-home buyer specialist. They may well have finance and building services available in one spot
For more information on what is available to you, contact your Professionals agent, or visit: http://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners
