It’s been over 35 years since Peter Campbell took his big dream and turned it into Clarendon Homes. Over this time, we’ve come to know a lot about the first home journey – from finding the right mortgage, to moving in, and all the crazy and awesome bits in between.
We know that just like every home, every situation is different and that, especially with first homes, the process can be a daunting task. We caught up with one of Clarendon Homes’ Tender Presenters, Joe Cruz. He’s an expert at this stuff and he’s given us his top 10 tips for first homebuyers. (But really, no matter how many times you’ve done the mortgage and home buying thing, there might be a tip few handy hints here that you could put to use.)
- Sort your finances out first. Get your loan pre-approved so you know how much you have to play with before you start looking. This means that if it’s love at first sight, you’re all ready to get the process started.
- Research all the government benefits you might be entitled to.
- Get to know the area you’re thinking you’d like to settle in. What are the land prices? It’s good to know so you have an idea of what you’re working with. If you’re looking to qualify for the First Home Owners Grant, your land contract and building contract will need to fall below $650,000.
- Block before home design is best. This way, you won’t fall in love with homes that won’t necessarily love your block.
- House & land packages are a good option if you’re after an easier process with a lot of the legwork already done for you.
- Remember: when it comes to builders, product and reputation are more important than offers and giveaways. Keep this in mind when choosing your builder.
- Be sure to consider hidden costs before choosing a builder, and try to choose one who offers fixed site costs.
- Experience, experience, experience. Choosing a building company with years of it is all-important.
- You can never ask too many questions. Make sure your builder knows their stuff. Also, a 170 – 180-day tender is best.
- Seek legal advice before you sign anything. It’s in the best interests of all involved.