FIRST HOME BUYERS
Buying your first home is an exciting experience. Many first home buyers start by seeking the advice and guidance from family and friends about where to live, how much to spend, type of house/unit etc. Often first home buyers ask the advice from a seller’s real estate agent. Asking questions such as:
- Is this a good area?
- How much are properties selling for in the area?
- How much is this house selling for?
Our Experience will save you money
Buying a home is an emotional decision. First home buyers want the best home that they can possibly afford. However, affordability can mean you overlook or discount many important factors that will cost you money and cause you to have to move sooner than you would otherwise like. Things such as the aspect, sun, water flows across the land, ease of access, shading and breezes. These all have a dramatic effect on whether you enjoy your house or end up hating it, but when emotions are involved sometimes financial common sense or practicalities are overruled.
Many first home buyers think that a new home or off the plan purchase is a must. This can mean that you don’t consider older houses that are below or at the bottom end of your budget. These often have a good layout and configuration and only require cosmetic renovations. Also, older houses usually have larger block sizes and older units tend to have bigger living areas (i.e. balconies, courtyards, general layout).
Therefore, you can live within your means and have the room to grow in the future. Further, often the older homes in established areas with bigger land sizes will give higher capital growth. Still on the plus side you may be able to access the Queensland first home concession to reduce your stamp duty.
However, purchasing an existing house may mean you don’t get access to the First home buyers grant. But a new home in a new estate often won’t achieve the same capital growth which could more than offset the value of the grant over the time you own the home.
Queensland First Home Buyers Grant
- First Home Buyers Grant Queensland of $15,000 ($20,000 for purchases prior to 30 June, 2018) –The Queensland First Home Buyers Grant applies to the purchase of a new home or vacant land, not an established home. For this grant you need to purchase or build a new home valued at less than $750,000. Note, the grant can also apply to a substantially renovated home but you would need to ensure the house meets the criteria.
- First Home Concession– This is another option for Queensland first home buyers. If you are buying an existing home or building a new home you can claim a rebate on the Buyers Stamp Duty when the value of the property is less than $550,000. The maximum rebate of $8750 applies to purchases of up to $504,999 and decreases to zero at $550,000. This rebate applies to both established homes and new homes.
- First Home Buyers should also consider the new 2017 Federal Budget incentives that may allow you to salary sacrifice your income into your Super account. This should help you save faster, but you need to assess whether it is worth the extra hassle access your superannuation
Are real estate agents (seller agents), there to help you?
In short NO! The seller’s agent may be nice and helpful, BUT they have a contract with the seller. That contract binds them to represent the seller’s best interests and get the highest price for their house/unit. Real estate agents are in the business full time and are experienced negotiators.
Buying your first home on the Sunshine Coast offers affordability and lifestyle. There are many housing options available to suit various budgets and lifestyles. We have done the research for you and know which suburbs on the Sunshine Coast are the most affordable and offer entry level housing. We know the suburbs where it is possible to purchase a house with a median price of under $500000.
Using our Buyers Agent service will save you money in the long run as well as take away the pain and risk of dealing with real estate agents who don’t have your interests in mind. We will always be representing you and negotiate the best deal now that will help you move into your first home.