My First Home: First Home Buyer Tips
Last year, the National Bank of Australia revealed that first home buyers now account for almost 40% of buyers in new housing markets and approximately 33% in established markets. Foreign buyers are declining, so now is the perfect time for Australians to get their foot in the door of the property market.
Hotondo Homes is glad to see a rise in first home buyers over recent months after what has been one of the most challenging conditions to buy or build a new home.
“When you think of the Australian dream, you think of home ownership. We’ve seen it get tougher and tougher for people to make that dream come true,” Hotondo Homes Managing Director Michael Renwick says. “It’s great to see more and more first home buyers coming back into the market. Building your first home is such an exciting experience and we love being a part of that journey.”
The Hotondo Homes Retreat Range has been designed specifically for first home buyers. The range features over eight architecturally-designed homes that suit a number of block sizes. These homes include everything a home buyer could want in their first home.
If you’re a first home buyer, we have some handy tips to make your first home buying journey a breeze!
House and Land Packages
There are a number of benefits in buying a house and land package, particularly for first home buyers, and it’s a great way to get your foot in the door of property market.
- Instead of having to organise purchasing land, coming up with a home design yourself, and then finding a builder you’re happy with, everything is taken care of for you. Your builder will be able to guide you towards the land sales agent, and once your land is purchased, your builder will have a number of home designs to choose from.
- Your builder can help point you in the direction for finance when you’re ready to purchase, saving you the trouble of finding a mortgage broker. One less thing to worry about!
- The price is set from the day your purchase, so there are no hidden surprises as the build progresses, unless you decide to upgrade items.
- You will work with a qualified builder and team who are committed to helping you every step of the way. If you haven’t considered building a home before, having this support network throughout the process is invaluable.
- If the home design in the package doesn’t quite suit you, the builder is always happy to tweak the design to suit you and your family’s needs. You’ll end up with a new home that suits your specific requirements exactly!
- Your builder will work with you to ensure the costs stay within your budget range from day one. Having someone to monitor finances throughout the process helps prevent budget blowouts and is one less thing for you to worry about.
Think About Your Choices
Once you’ve selected your home design, think about your colour selections and finishes. There are so many options, but a well thought out façade design and interiors will go the distance in your new home.
- Choose colour schemes that are subtle and timeless will ensure your home’s appearance won’t date in a few years’ time once trends change.
- Consider where to invest more of your budget – flooring, tiling, and benchtops are expensive to replace, so if your budget allows, invest more money in high-end finishes in these areas when you build. The quality will show and more importantly, they will last a long time.
- Selecting good quality appliances is also another area to consider allocating more of your budget to. Inexpensive appliances might not have a long lifespan, so having to reinvest hundreds or thousands of dollars to replace two or three big ticket items after only a few years will prove to be quite the financial headache. Particularly if this happens when you’re starting a family or have small children at home and only one income.
Whether you’re after a single storey home to get your foot in the door of the market, or a double storey home to accommodate your growing family, a split-level design, or an investment property, Hotondo Homes has the solution to suit your specific needs. Our Retreat Range is perfect for first home buyers, with no compromise on quality, size or style.
If you’re a first home buyer take a look at our Retreat Range for a home that perfectly suits your budget. If you would like to learn more about our fantastic house and land packages available, we’ve got all the details right here.
