5 tips to go from renter to home owner
Perth’s rental vacancy levels are at less than 1%. You know what that means? It’s the perfect time for renters to consider getting into a place of their own.
The property cycle can outpace your savings, so it’s best to find out your options so you can get into the market sooner and stop renting.
1. Discover your options
Buying your first home is a big deal. So, it pays off to speak to the right people and find out what’s right for you.
Whether it’s just for a chat or to start on your home building journey we are here to help. Together with our partners at Resolve Finance we can help you with finance, land and home all in the one place.
Building your first home allows you to tailor the home to your needs and have a brand new finished product.
2. Set a budget for savings
It’s key to create a budget and stick to it. Holding yourself accountable is key to getting into your first home.
Whether it’s setting weekly budgets or paying off debts these things can be overwhelming to do so get some expert support and make it simpler.
The My Home Plan* service allows you to get a unique and tailored program by Resolve Finance, where you can work with a finance coach to get you financially fit for your first home.
3. Get a true sense of your situation
It’s important to get accurate information on what you can afford as well as what your options are. It’s best to speak to a mortgage broker at Resolve Finance as they can help you understand what government grants and schemes may be available to you.
4. Find financial incentives and packages
House and land packages are great for first-home buyers as they take some of the hard work out of it for you. We also have a range of exclusive blocks that are not available to the public. We then match up the block to one of our home designs based on the block as well as what you want in your new home.
First-home buyers may be eligible for a range of government grants and schemes to help you get into your first home.
The federal government’s First Home Guarantee, Family Home Guarantee and Regional Home Guarantee schemes may allow eligible first and second-home buyers to start their journey with a deposit as low as 2% or 5%^.
The WA government also offers the First Home Owner Grant (FHOG) of $10,000 to eligible applicants^.
5. Do your homework
Start doing research as soon as possible, even if you’re not ready yet, or you’re wanting to take the next step you want to see what’s available to plan your goals.
We recommend following the social accounts of Perth’s top builders and researching on their websites to see what building with them could be like.
It’s also a good idea to check out independent review sites such as Product Review to see what real customers experiences are like. Check out our Product Review here.
*All financial services provided by Resolve Finance Solutions Pty Ltd trading as Resolve Finance ABN 65 079 545 378, Australian Credit License No.385487. My Home Plan is operated by Resolve Finance ABN 65 079 545 378. Terms and Conditions apply. For full details go to: https://wa.homebuyers.com.au/my-home-plan/
^Eligibility at discretion of state and/or federal government. Please refer to Government websites for further information: www.housingaustralia.gov.au/support-buy-home and www.wa.gov.au/organisation/department-of-finance/fhog. Lenders terms and conditions apply.
Homebuyers Centre BC 5409.