Once you have prioritised your
spending and start to see the savings grow, you will be in a better
position to set up a meeting with your bank to discuss loan structure
options and your borrowing capacity. Your bank or lending provider will
give you an indication of the amount of money you can borrow and will
help guide you with how much more you need to save to be able to afford
your first home. Once you have this information, the fun part begins –
the search for your new home.
4. Find a home you can afford
Evaluate what features you want most in your home, as well as the type of neighbourhood
you want to live in. Depending on where in Australia you are looking to
buy, you may be eligible for further stamp duty savings. Be sure to do
some research as to what your entitlements are when purchasing a new
home or vacant block of land — our New Home Advisors can be a great help
when it comes to this. Also, you may want to get familiar with HomeSolution by Metricon, our home and land options made especially for first home buyers.
5. Apply for the First Home Owner Grant
a competitive property market, many Australian first-home buyers wonder
how they will ever get their foot in the door. If that’s the case for
you, you may be comforted to find yourself eligible for the First Home Owner Grant,
a one-off grant to support your entry into the market. The amount
varies depending on your state or territory, but you can find out more
on our first home buyer resources
At Metricon, we're here to guide you through the building process,
so if you have any questions about homeownership, don’t be afraid to speak to us today.