Location
An important thing to consider is proximity to employment. You should consider transport costs. Would living a long way from your job mean that you have to buy a second car? You should consider the financial implications of this on your budget. Price
The basic principle is to buy the best house you can afford. Approach your bank and find out what they will do for you. Get a second opinion from a mortgage broker and see what deals they can find you. Amenities
Important amenities for a first home buyer are; Changing Needs
If you have found the perfect location and don’t plan to move for a long time, consider whether you can accommodate changes in life. Is there a room to extend, add another bedroom, living area, bathroom? Is there enough car parking? Is the yard big enough for your needs now and into the future? Is a unit or apartment sufficient, or should you buy a house with some land? New, Renovated or Unrenovated
There is no right or wrong answer. If as a first home buyer you are looking to buy a new home, this generally means you will be buying a new house in the outer suburbs, or a small apartment near the city. A positive aspect to buying a renovated home is it has all been done for you. The downside is that you will generally pay a premium for somebody else’s work. An unrenovated property provides you with a great opportunity to add value in the short term, but you need to seriously consider how good your renovation skills are. |
