Professionals Richmond 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