Buying one's first home can be at once an exciting, confusing, and nerve-wracking experience. It may be the biggest decision you have ever made, and is certainly the biggest financial commitment you will have made to date. There are a variety of points to consider before taking the leap, from what government grants may be available for first home buyers; Perth or other locations which will best suit you; and how much you can reasonably afford to spend.

Consider:

Do you have a good solicitor or conveyance? Experience counts – and not all are equal. Do your research and settle on a professional who feels right – recommendations from friends or acquaintances you trust are invaluable.

• Are you really ready to buy a home? Have you saved enough to lay down a substantial deposit and to cover other costs (stamp duty, legal fees, ongoing land and water rates, insurance, repairs, etc)? Ideally, you will have saved at least twenty percent of the purchase price.
• Do you have a solid track record of savings, and a solid employment history? It is much more difficult to get a home loan if you have an erratic employment history, are self employed, or have a poor credit rating.
• Do you have pre-approval for a loan? It's always a good idea to know in advance just how much you are realistically going to be able to borrow.
• Do you have some savings up your sleeve to act as a buffer should interest rates rise? Can you afford repayments plus the cost of living?
• First home buyers (residents, not investors) are eligible for government assistance – amounts vary depending upon the state of residence and the type of home being bought.
• It's a great idea for First home buyers, Perth to Sydney, to enlist the services of as mortgage broker to get the very best advice and assistance regarding options for getting the very best home loan. Brokers negotiate with mortgage lenders on behalf of the borrower, to take the hard work and confusion out of the process. They can also facilitate deals which would otherwise not be available to home loan applicants.
• Consider carefully where you wish to buy – and look to the future. Buying a home is not a short term investment. Can you afford the area you are looking at? Is there infrastructure as you will require looking ahead (i.e. amenities, schools, transport, etc)? Does the property need renovation or repairs?  Have you had the recommended inspections?
• Be aware that if buying at auction, typical standard cooling off periods do not apply. Where cooling off periods do apply, a change of mind for any reason will forfeit any holding deposit paid.

Take your time and follow your gut instincts when navigating the process of buying your first home. Keep an open mind and when you find the right house to be your home, you will know.