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.
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.
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.