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Buying Your First Home

Buying your first house is a wonderful experience. As a first-time home buyer, we are confident that following these instructions will make the process go more smoothly for you.

Start saving for a house deposit

Getting a general idea of house prices enables you to set a target for yourself. Saving up 20% of the purchase price plus enough to cover additional costs is a great savings goal for a down payment on a home.

Decide how much you can borrow

What you can afford to borrow will depend on:

  • Your earnings and financial obligations
  • Any further savings, and
  • Your credit score.

Know why you're buying

Discuss this with your partner. Knowing why you're purchasing will help you focus your search for a home.

Pest and building inspection

Once you've identified a home you like, hire a professional to conduct a building and pest inspection. This could save you a lot of money in the long run.

Settlement

The settlement date is when the property title is transferred into your name and your mortgage begins. The contract of sale specifies the settlement time, during which you must pay the whole purchase price. Your solicitor or conveyancer will finalize the settlement with the lender and seller. Then you'll be given the keys to your new house.

Incentives and Grants

There are various government incentives available to first-home buyers. What is accessible to first-time home buyers varies by state and individual circumstances.

These are some examples:

  • Victorian Homebuyer Fund
  • First Home Guarantee
  • Regional First Home Buyer Guarantee
  • First Home Owner Grant
  • First Home Super Saver Scheme
  • Stamp Duty Waiver

You can also visit www.firsthome.gov.au for additional information on what may be available.

Your Mortgage Professional can provide you with a wealth of additional information, such as information about the finances needed to settle your mortgage, the mortgage process, and a comprehensive First Home Owners Guide.

Loans by Reliiance Financial Solutions

We all have different needs and requirements. Let our knowledge and experience help you get the most suitable financial solution for you. At Reliiance Financial Solutions, we work with you, for you.

Talk to a Reliiance Financial Solutions expert for a consultation

FAQ

At Reliiance Financial Solutions, we have been privileged to have worked with hundreds of remarkable individuals and families.

Very few things come close to receiving their genuine appreciation of our services. All we can say in return is - the pleasure was all ours.

It is also our pleasure to share some client testimonials with you. Please click on Video Testimonials to view them all. Use the buttons at the bottom of the screen to navigate through the videos.

Want a quick and entertaining snapshot of our services? Click on Services Videos and enjoy!

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