Hey hey!!!
How do I buy a house/small amount of land??
I've just gone back to work after finishing having kids and I'm putting everything I earn into savings, question is, other than saving obviously, what should I be doing or looking into first? Or just wait till I've got the deposit togther?
First home owners available in NSW?
Savings ACC is with NAB, love to know if there was a better savings account.
Any advice would be so good!
Thanks all!
Buying a house
Buying a house
Posted in:
Life Lessons, Money
4 Replies
Clear any debt you have, particularly afterpay or zippay. Check your credit score and work towards a better one - direct debit $50 a week onto bills so you are always ahead, don’t take out any loans like the above mentioned!
Just save all you can. Build your savings and when you feel ready, see a mortgage broker. I recently got my first home loan and I thought I was only halfway there and it was impossible, but somehow it all happened. Make it your goal and put the info on your radar and in your discussions, and when you have the savings the time will come where it all falls into place.
Definitely make an appointment with a mortgage broker. They will tell you what you need to do to reach your goal
Google is an awesome tool for this when you are just starting.
Mortgage calculators - will help you get a glimpse of what you may be able to borrow. You enter the basics, yearly income, expenses etc. Try a few.
Once you have your estimate, start saving an absolute minimum of 10%, then id look at a broker. When I started contacting brokers before i had a decent looking bank account i got turned away a lot even when i was just looking for advice.
There are large costs involved with purchasing that also need to be saved on top of your deposit. Stamp duty, transfer/ solicitor fees, inspection fees, LMI (if buying with less then 20% deposit) as well as the actual cost to move house.
It’s doable