First home buyer Pitfalls and risks
propertyman | Aug 13, 2010 | Comments 7
The rush is on around the nation for first home buyers.
At the moment the State Governments vary, but the Federal Government, the FHB grant is $7,000. You get an extra $7,000 FHB boost if you’re buying an established home and then you get an extra $14,000 if you’re buying brand new.
The great Aussie dream is still within reach for first home buyers.
Tips for families FOR FHB ( First home Buyers)
I think one of the things first home buyers have to remember is that your first home is not necessarily your last home and your first home does not have to be “your dream home”
What property buyers should be looking for ?
- Proximity to the city, good schools, parks, reserves and sporting grounds.
- Prospective buyers should also look for properties close to major shopping centers and in areas that have low crime-rate.
- Location is the most important thing when buying a house
- prospective increase in valuation of the house based on suburb and other factors
- proximity to your workplace
First home buyers can’t go wrong if they follow these golden rules.
- The most important thing is the location , location , location
- Look for capital growth, property should have some land Value
- Cost in at least 7 to 8% when doing you home loan borrowing capacity as current 5 to 6 % home loan rates are not going to last forever.
- Dont borrow to your maximum borrowing capacity , keep a buffer
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Filed Under: borrowing capacity • Featured • FHB • finance • first Home buyers • Goverment grant • Property sector • rates • Real Estate
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jeff