It can be hard to know where to start when buying your first home. It’s one of life’s biggest purchases after-all.So that’s why it pays to know these things before you even consider buying a house or investing in real estate:1) firstly, the real cost of a home is considerably higher after stamp duty, conveyancers, inspections, legal bills etc; 2) start with humble beginnings; 3) remember pictures don’t always paint the truth;4) and know that it’s all worth it because everyone needs somewhere to live.
Here’s how to plan to buy your first home. We see many first home buyers who skip over the fundamentals and go straight to the fun part—inspecting houses for sale. But crossing your T’s and dotting your I’s is crucial for ensuring your new home is the right fit. Here, we round up the best tips for first-home buyers who are ready to take the plunge into home ownership. From ensuring your deposit and loan approval is ready, to getting solid building inspections and conveyancing checks done, pay attention to these top tips to make sure your first purchase is a positive move.
COVID19 has impacted on all sectors of the economy, and property is no different. But it could present an opportunity for first home buyers. In March, house prices were up in both Sydney at 14.5 per cent and Melbourne at 12.5 per cent year-on-year. Although sales have dropped, there is still an opportunity for first home buyers to get onto the property ladder. In fact, buyers searching for Victorian properties on realestate.com.au have jumped 40 per cent amid coronavirus, a sign of optimism returning to the market.
Unique right from concept delivery, every element of South Yarra’s newest apartment building 42-48 Claremont Street has been designed to make modern living a bigger and better experience. Designed by Plus Architecture for the highly-respected developer DealCorp, this stunning development overlooking the Yarra River delivers more: more space, more natural light, more storage and more top-end inclusions. In short, 42-48’s design is guaranteed to see it become a highly-valued South Yarra address.
In Melbourne, properties for sale in the McKinnon Secondary College, Balwyn High School and Glen Waverley Secondary school zones have long attracted a ‘zone premium’, which is nothing short of gold for vendors. So what’s it worth? Well it could be anywhere in the ‘zone premium’ region of 15-25 per cent more. Figures from the Real Estate Institute of Victoria show that in 2016 the median house price for homes in the McKinnon Secondary College zone was $1.5 million compared to $1,195,000 for homes in the same suburb but outside the school zone. The desire to be in a school zone is only increasing.
No one likes being stuck in traffic. The bad news is as Melbourne continues to expand the pressure on our roads is increasing. Would you believe that Melbourne drivers spend on average 500 hours per year commuting to and from work. That’s three weeks! But more than just saving time, being able to easily access employment hotspots, especially the CBD, will also see you gain much greater access to opportunities.
