Entering the property landscape: what options are available to you?

25 June 2018

Are you in the market for a new home in Australia? Do you need assistance in determining what your best options are? Looking for housing can be confusing and stressful as well as overwhelming if you do not know what you are looking for or what the options entail.
There are multiple options for homes. You can look at renting as well as buying. If it is your first time purchasing your home, you have discounts and programs to help. There are many home builders that are very knowledgeable and can assist you on your first time as a new buyer. If you are moving to a new location, you may need to look into additional financing as well.
Let’s take a look at just some of the options available to you and your family when entering the property landscape.
The first option when determining where to live is to rent. Unfortunately, the price to rent is nearly the same as if you decided to purchase a home. Not only would you be paying on a mortgage note to bring the bill down over time, but you would also get money back if you did any property updates or sold the house later on down the road.  
You are unable to do this when renting. The money you pay in rent does not go to the apartment you are staying in to eventually become yours one day. This is the major downfall of renting. Renting does serve a purpose though if you need somewhere to go while your new home is being built.
First time home buyer
The next primary option when entering the property landscape is to purchase a new home. It can be very exciting and, at times, overwhelming depending on if you are purchasing a pre-existing home or if you decide to build a home of your own. There are many benefits of being a first time home buyer in Australia. There are multiple housing affordability plans to choose from, 2018 is a great year to buy a home due to the stamp duty exemptions that were unveiled earlier in the year. Make sure you investigate all your options as a new buyer in the market.
Another critical aspect when entering the property landscape is financing. No one usually has a quarter of a million dollars or more laying around to use on a house, so financing your new home needs to be evaluated. Financing is a great way to get the exact house you want for a great price. Make sure you check with multiple lenders to make sure you are getting the best deal and value for your new home. Since the rate of new homes has somewhat levelled off in numerous areas of Australia, 2018 is a wonderful time to make a change in your life and purchase a new home.
The last aspect you want to think about when entering the property landscape is what kind of amenities you want your new home to have. You can meet with home builders and decide on many standard finishes as well as upgrades to make your home uniquely yours. Whether you want to add crown moulding or a tray ceiling, or even an in-ground pool in the backyard, your home builder will assist you in all your needs to give you your dream house.
What is the best option for my housing needs?
When searching for a new residence to live in, there are multiple choices, and you need to take each option to heart and investigate wisely. Make sure you choose something that you can afford that will not strap you in the end. Also, make sure you examine first time home buyer programs, if applicable, as well as multiple lenders when investigating financing options. Lastly, make sure you add all the details and amenities that you want in your home to make it yours. If you do, you will have the most beautiful home in all of Australia!