Things to consider when buying your first house

Buying your first house is definitely a headlong dive straight into the tumultuous waters of adulthood, a true wake up call for those people that may be stuck in the daydream like land between your 20’s and 30’s where you are old enough to be responsible but still get away with a lot of the things older people wouldn’t. Well buying a housed is a great strain to take on, first of all for all of the different considerations that must be made in terms of the actual house you are buying and what you actually need, mixed in with some rather complicated and ominous sounding financial and legal concerns that must be undertaken in order for the purchase and ownership of the property.

So it’s really important that you explore every possible outcome and prepare for all different kinds of processes and checks to ensure that you are actually able to both afford and legally own the property. With all of these considerations to take in, it’s no wonder that many first time buyers find themselves along for the ride on a rollercoaster with no harness, at least, that’s what it feels like. So what are the most important considerations and how is somebody supposed to remember and effectively deal with all of them? Well let’s take a look at some advice from different industry experts on the subject.

Property requirements

Are you a growing family, perhaps with a new member on the way, looking for a place to truly call your own and fit your new family in comfort and give you the best possible chance of a great future? Or maybe you are more of an easy going, jet setting person who often times can do whatever you want with little responsibilities outside work and are living what some might call the life? And want to invest in a property while the times are good and have something to fall back on if things go a bit pear shaped? Well just by their descriptions these two different households would be looking for completely different things and will value specific features of any property they view completely differently.

For example, a single person with a professional career who spends little time in their house may find that the huge garden their property comes with isn’t really of too much concern to them as they would probably require far less outdoor space than, say a family of four with two dogs, who not only need and outside space for the animals, but also their children who will no doubt spend many a summer playing out there. So make sure you know what you want and what features you value in your everyday life and choose based off of the properties suitability to these guild lines, do not let a savvy agent trick you into buying a house with a steam room and sauna unless you actually intend on using the things it would be a slightly pointless expense.

 

Financing

Well here comes one of the most difficult problems with buying a house in today’s economic environment and that is securing the much needed finance for your home. Generally speaking, most people tend to settle on a run of the mill mortgage from a local high-street branch of a large bank. Although this process may be lightly quicker and more convenient for some. They might not necessarily be working independently for you to try and get the most competitive interest rates on your loan or mortgage, whereas a third party loan and mortgage broker most certainly has the flexibility with who they choose to source your credit from and therefore has the power to sway the odds in your favor if they are really worth their salt.

So make sure that before you go rushing to the broker with the most attractive looking rates on the poster in their window that you take the time to familiarize yourself with how loan brokers work and which ones are the most trustworthy and reputable in your area by taking a quick online search of the different reviews left by both directory services and by their previous clients. For a good idea of what to look for take a quick look at what most people consider to be the best loan broker in Melbourne.

Things to consider when moving to the country

How many times have you yourself craved a more wholesome, natural and carefree life? A lifestyle where you literally have everything at your fingertips and can get much out of your hard work that you put into something? Well maybe you too could consider a life further away from the big developed city and adopt a more rural lifestyle by striking out and moving to the country. Indeed it’s a dream that is shared by many people and Australia is one of the easier countries to do it in due to the abundance of good land, particularly in Western Australia, that is fertile, sustainable and can help provide the people and their families with everything they could need from fresh, local food to employment opportunities.

However before you make such a monumentally huge decision that will inevitably change not just yours, but your entire families lives forever. And whether those changes are for better or worse are often times determined by the amount of thought, planning and preparations you put into the process when first going into the process. So let’s take a look at a few of the more important considerations that you have to make when you are planning on a big move out into the countryside.

Finance

Now the first and foremost thing that you will need to look into is how you are actually going to fund the initial purchase and of the property and; land and how you will sustain yourself during the transition period between the two properties and indeed the two different lifestyles. And normally to start this kind of endeavor you will either need to sell or remortgage a property that you currently own or secure a mortgage based on your credit history and scoring. Short of that you could try and use your savings to put the deposit down on the house and then use your monthly income to secure a regular bank loan against the remaining value, however this is only for those who have considerable assets or capital available to spend.

For most people it’s highly recommended that you get yourself an appointment with a local mortgage or financial advisor and see what they think of you financial situation. They will sit down with you and go through all of you financial details, accounts and listings of your assets and try to figure out how best finance you new endeavor. They can potentially have knowledge of specific loans and laws that could give you a favorable advantage when it comes to sourcing some additional finance, particularly if the finance is for an investment of this scale.

Utilities

One of the major disadvantages you could say about living in the countryside is the pure fact that it is less built up and developed that what you may be used to in the city and this goes for a lot of different things from groceries, cafes and restaurant but also more basic things like water, gas and electricity that are necessary for day to day life that you may have problems in getting connected too if your property happens to be extremely remote. For example, water pipes require ;large amounts of underground digging to lay the pipework and if you property is particularly far away from the cistern then it would be very difficult to install piping from there all the way to your property and also more expense then it is practically worth doing.

This is why so many people who move into the country have to rely of bore pumps in Perth they have even gone so far as to start recommending consultations to anyone who moves more than 50km away from a large city or water source. This is due to the unique conditions of the Australian countryside, being extremely hot and dry can make it very difficult to extend the pipes all the way across the outback. However bore pumps actually take the water from a borehole that must be dug in your property and supplies the house with water from that. So make sure that when you are viewing and looking for houses to ask about connectivity to all of these services, and particularly the water as it is probably the most vital resource of them all. And if they say that it requires a bore pump then be sure to ask follow up questions about its condition.

How to prepare yourself for your retirement

Let’s face it; there are probably a few people who relish the thought of getting older, leaving your youth behind to foray forth into the world of elderly life can be a daunting prospect even for the strongest of personality. This is because we equate being an older person with leaving behind your sense of wonder and excitement to move into a more docile way of behaving. And in some ways this is true, however, the old saying “getting older is mandatory, but growing up is optional” springs to mind meaning that getting older isn’t necessarily conducive with becoming a different, less fun person.

With that said, as you get older you inevitably have to consider how you are going to prepare not only physically but also lifestyle wise to the different aspects of getting older. After all, there are things that you have to consider when moving into your elder years that you never would have considered before. Many older people do not get their affairs in order early on in their old age and it leaves them stressed and scrabbling to make arrangements in certain scenarios. Luckily in this article we are going to run through a few helpful tips to help keep you on track when making these kinds of preparations.

Finances and estates

Granted, these are things that nobody really wants to think about deep down, however as you get older its inevitable at some point that you will need to make arrangements to what your wishes are for both immediately after you pass on or become unable to care for yourself. Your finances will need to be in order should the worst happen and it’s important that you do this yourself not only for your own peace of mind but also that you know exactly what is happening with your money and that any arrangements that are made are made to your specifications.

Planning your estate and what you want to happen with your various belongings, holdings and physical and banked assets after you pass away is a very important thing to do not only, again, so you can have peace of mind knowing your arrangements are all taken care of but also for your family who at their time of grief and bereavement will not really wish to go about the difficult and complex task of sifting through your finances and guessing what your final wishes would be. Take all of that hassle away from them by consulting a lawyer to help you draft your will; nowadays you can even write them yourself with a comprehensive enough template to work from.

Accommodation

As you get older hopefully your health and mental state will last you for the rest of your life meaning that you are free to enjoy all of the benefits of being elderly. However worse should come to worse and your physical or mental health starts to falter, as it happens naturally to some people, then you could find that your living requirements will change drastically dependent on the severity and kind of illness that you get. In some cases you may find that you have no choice but to live in some kind of assisted living facility or even a care home in very serious cases. So while you are able to and have the drive and wherewithal to make these arrangements and explore the different options that are available to you then it is important that you do so to ensure that you are comfortable with your new arrangements.

Many people choose to become residents of a retirement community or “retirement village” these facilities offer comfortable housing and care options for all levels of disability and illness and most of them come with the option of living in a room that has assistance bells should you require something you are unable to do yourself. It’s important that as you approach your old age if this is something you might be open to living in should the worse come, then you should really go about researching and visiting ones that are in your local area and also close enough to your family that they can visit you and vice versa. In the media these places can sometimes be made out in a negative way but in most cases the standard of care and social aspect of living in one of these retirement communities is a positive thing.

Thanks for reading this article, please click the following link for more information about retirement villages.

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