Deciding what you want
What you can afford
No doubt you want a perfect home in the perfect location, but it's important to understand what you can compromise and afford.
Make a list of must-have's, like-to-have's and what is not so important. Things to consider include:
- How close do you want to be to friends, family, work, shops, school, public transport and parks?
- How big a place do you need, number of bedrooms, number of bathrooms, rumpus room, study, a section for the kids and/or pets?
- Is a view important?
- Do you want a private, quiet or secluded home?
- Do you need a garage/carport – if so, for how many cars?
- Is all day sun important?
- Do you want a low maintenance property and/or garden?
- Are you prepared to renovate?
Arranging Finance
There are many financial institutions that offer home finance, such as a bank or building society.
Often you can get an indication from them in advance as to the value of property you can finance based on your deposit, your income and what you are buying.
Apartments often require higher deposits, for example.
You will need to supply salary details, the value of your other assets, the details of other debt commitments, etc, for them to tell you what they can loan you.
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