Buying your first home is one of the most important decisions of your life and it’s no surprise more and more Aussies are looking to trusted mortgage brokers to help make the process simple and cost-effective.
In fact, according to a recent survey of first home buyers, nine out of 10 said they trust a mortgage broker to help them secure their first home.
Making the leap into home ownership can seem daunting at first, but the good news is that mortgage brokers can offer great support to break down and simplify the steps you need to take to get on with the most important part – enjoying your first home!
It’s good to know that mortgage brokers are bound by a duty to serve the best interests of their customers and to get the best outcome possible. For many first home buyers, this can be a huge weight off their minds.
The Genworth First Home Buyer Report 2021 surveyed 2077 prospective and 1008 recent first home buyers this year, showing the importance of having the right advice.
Almost 90 per cent said mortgage brokers provided valuable support and reliable advice during the home buying process.
The report also revealed that many buyers were taking a ‘now or never’ approach to get into the market and secure their first property, based upon their stage of life, low interest rates and a booming real estate market.
Investment properties continue to attract buyers with almost three in four first home buyers looking to enter the market with a deposit of less than 20% (73%) and the majority with less than a 15% deposit (56%).
Spurred by the pandemic, first home buyers are increasingly looking outside capital cities to find a more affordable home to enter the market, with more than a 7% rise in purchases in regional and rural areas.
WE CAN HELP YOU SECURE YOUR IDEAL FIRST HOME
Unless you’ve been living under a rock you will have noticed property prices across the nation are undergoing massive growth, pushing sales prices to record highs.
This can be a major source of frustration for new buyers who had their hope on buying in certain suburbs only to be now priced out of contention.
But this is not always the case and a mortgage broker can help you formulate a winning strategy that’s within your reach.
A number of federal government schemes are available, including the First Home Loan Deposit Scheme – which enables you to buy your first home with a deposit of just 5% without paying for Lenders Mortgage Insurance.
State and territory government schemes, designed to assist first home buyers to get their foot in the property market, also may be available including first home buyer grants and stamp duty concessions.
Give us a call and talk to us today. We’d love to hear about your plans and help you secure your first home without the stress and worry.