If you are planning to buy your first home, your budget will very much dictate the range of properties you can afford, and with land prices always on the rise, it can be a big leap to get onto the first rung of the property ladder. You might think it is just a question of finding the right house, negotiating a price with the seller, and after signing a few papers and making the bank transfer, you will receive the keys and can move in. Unfortunately, there is a lot more to the process, and when you factor in everything, your original selection might be out of your reach. Therefore, it is essential to reach a figure that includes everything, that way you can be sure it is affordable.
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Modern builders have made the house buying process much easier, as they take care of each stage of the process, from funding to handing over the keys. When you are quoted a price, there will be no hidden extras, so you can budget effectively. If you happen to be in Western Australia, and are looking for an established Perth builder, there are online solutions, such as http://www.aveling-homes.com.au/ who have many years’ experience in building top quality homes.
This is payable whenever you buy land in Australia, and there are significant concessions for first time buyers. A modern builder would deal with the paperwork and arrange the land deeds on your behalf, but you should factor in any taxes when thinking about your budget.
Buying a home can be very costly if you hire a solicitor to handle the purchase, and it is a better idea to buy from an established builder, as they will include any legal fees in their initial quote. Lawyers are well known for charging top rates, and if you are not careful, the legal fees will eat into your budget.
If you are trying to establish a practical budget for your home purchase, you require a level of transparency from the builder. When quoting a price, a good builder will itemise everything, making it easy to follow, and with no hidden extras, you can be sure your budget will be adequate. Many first time buyers are put off by the endless red tape and hidden charges that make the purchase almost impossible, but if you use the right builder, one that is focused on transparency and affordable homes, it is a lot easier to calculate the costs.
There are many financial institutions that are lending to property buyers, so shop around. Very often, the builder can offer very competitive finance, and can usually get you a pre-loan approval within days of making contact. Once you have reached a figure you are happy with, you need to verify that you can obtain a loan based on your income level.
Using the right builder means easy budgeting, as they will quote you an all-inclusive price, and if you buy a display home, you can save even more money.