Buying Your First Home

It’s the great Australian Dream – to own your own home; your piece of Australia which you can call your own; to get out of the ‘rental trap’ and stop paying off someone else’s mortgage and in to something that you can watch grow in value.

For most of us, we only plan on working for 1/3 of our lives. The average Australian will spend the first 20 years of life (“phase 1”) gaining their education, the next 35 years (“phase 2”) working, and the remainder of their life (“phase 3”) in retirement. It is what we do during the ages 20 to 55 (“phase 2”) which has such a bearing on phase 3 - when we can retire and the quality of life which we live.

Government pensions are fast being phased out so if you do not take responsibility and plan for your financial future then who else will? Some people are very driven, ambitious, and determined to be wealthy. Others are more laid-back. Each to their own, but even if you were to only set one (1) major financial goal for your working life you could do far worse than aim to own your home by the time you retire. At least then you would have the peace of mind that you will have a roof over your head.

From 1 October 2008 through to 30 June 2009, the Federal Government has an initiative to make buying your own home too good to ignore. First home buyers wishing to purchase an established home are entitled to $14,000; buy or build a brand new home and this increases to $21,000. Put frankly, if you are eligible for this grant and are not considering buying a property before 30 June 2009 then when will you?

Just imagine what your home could be worth in 5, 10, or 15 years from now. The average house price in Nundah (8 klm from Brisbane CBD) in 1991 was $121,689. By 2002, this price had doubled to $250,000. In 2007 it was $467,000. These are statistics based on the average property price over 16 years. Some commentators are forecasting that the average Brisbane home will be worth $1m in 6 years from now. Therefore, the longer you leave it to make your move the harder it will become. On the flip-side, get in now and imagine the equity which you could acquire.

With this increased incentive limited until June 30 2009, the 6-Point Group has developed this (comprehensive) kit to help answer your questions, including:

* How to get your hands on this $14,000 / $21,000?

* Will a bank approve your loan, even if you don’t have much in the way of savings?

* What costs are involved with buying property?

* The steps involved?

* How your parents may be able to assist you to minimise costs / increase borrowing capacity?

Call us for a First Home Owners Grant Kit. We are confident that you will not find a more comprehensive resource than this. Let this be a taste of the very high standards which you can expect from “Australia’s (official) 2008 Brokerage of the Year”.

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Buying Your First Home

It’s the great Australian Dream – to own your own home; your piece of Australia which you can call your own; to get out of the ‘rental trap’ and stop paying off someone else’s mortgage and in to something that you can watch grow in value.