First Home Buyers NSW
Buying your first home is a very big decision in your life. Many First home buyers in NSW are driven to purchase a house because they recognize that paying rent is a waste of money which could otherwise be used to buy property in their own name. If a wrong decision is made as a first home buyer in NSW, the consequences can be long term. Fortunately there are many good packages for first home buyers all over Australia these days.
Financial Aspects to Consider When Buying a Home
- Mortgage you qualify for: Different lenders will evaluate your mortgage differently. Factors such as current debts, salary, employment-stability, etc. are very important in deciding what you can qualify for.
- Loan you can afford: Even if a bank is willing to give you a large loan, you should be able to figure out whether you will be able to live comfortably once you start paying the monthly installments.
- Commission for the dealer: Buyer’s Agents are becoming increasingly popular and if you use this kind of service you must allow for the agent’s commission in your calculations. Don’t forget to have a thorough home inspection done by professionals to help you discover any defects in the house.
- After-Buying Expenses: It’s important to estimate the real costs of the property by taking into account any repairs as well as any on-going maintenance costs when buying a house and calculating your budgets.
If you are a NSW first home buyer, we can help you find the best mortgage deals for buying a house. Call Macarthur Mortgage Finance today to find the best available deals in Australia.