Everything You Need to Know if You’re a First Home Buyer

When it comes to buying your first home, the process and decisions involved can appear daunting. With forms, finances, sit-downs, designs, colours, amenities and everything in between on your mind, it can be easy to become frazzled. However, with our list of the points you need to know, you will find the building process at Anchoridge a breeze.

1. Do Your Research!
For many first home buyers, studying is something that was thankfully in the past but when it comes to building your first home it pays to do your homework. What is the current property market like? Are there areas that interest you that are currently booming or are likely to in the future? There are many factors that can affect this including proximity to the coast, planned amenities and estate design guidelines that establish an area as a desirable destination. There is no better person to talk to than a land sales representative about what is in the works for the area.

2. Check Your Finances
Once you have decided where you want to begin your journey and have an idea of what it will take to get started, the next step is to find out exactly what you have to play with. Speaking with your bank is a logical first step, however it is smart to speak with other industry professionals, namely a specialist in home loans, who will be able to help you source the best rate going forward. While it’s fine to be approved to borrow a lump sum amount, make sure that the repayments involved are easily attainable and can be accommodated comfortably with your lifestyle.

3. Crossing Your T’s and Dotting Your I’s
Hold up - now that you have the ball rolling and the deposit covered, make sure you don’t forget about other associated costs including conveyancing, site costs, and make sure you have something set aside for fences, driveway and landscaping. For a more in-depth look at what your initial costs may be, make sure to speak with your land professional and have them lay it out for you. Building at Anchoridge has its perks for first home buyers as you are eligible for the First Homeowners grant which will help cover some of the costs, along with free front landscaping.

4. Okay, let’s talk about land.
Now you have moved through the boring stuff, let's look at where you can pitch your tent. Speak with your land sales team about the allotments that remain available in your chosen area. Be sure to look over the estate’s masterplan to figure out what may be in the works for your immediate area and its accessibility to amenities closeby. At Anchoridge for instance, how close are you to incoming parkland and walking tracks? Where is the closest road to take you to the Surf Coast? 5. Now to the fun stuff.

You are financially ready and have locked down the perfect block to set up shop. Now you can start thinking about the perfect floorplan for your home.. If you haven't already. How many rooms, living spaces, bathrooms and powerpoints? Which floorboards, light fixtures and brick colour? This is your chance to create the idyllic sanctuary for you and your family that you’ve always dreamed of. Don’t be afraid to look at every builder’s display home and display village you can to find the perfect home for you. An important note to consider is to look past the base price of a design, and instead look at what standard inclusions are offered by each builder. Limiting extra costs is extremely important in keeping your overall spend down.