First Home Buyers
Owning your own home doesn’t have to be difficult!
It all starts with a obligation free consultation.
Government Incentives
There are still two very helpful forms of government assistance on offer for first home buyers. The First Home Owners Grant and the First Home Lenders Deposit Scheme. Both of these grants are allowing our first home buyers to enter the property market a lot sooner than they thought they could.
Buying your first home can be daunting. Knowing incentives are available and understanding how to access them are two very different things.
Let us take the confusion and anxiety away and explain to you who you should be speaking with, what you should be asking for, and how much you should be paying.
Is the property priced too high?
To assess this, compare the property to recent sales in the area, consider current market conditions, and evaluate factors like location, size, and build quality.
Are there better options available?
That depends on your budget, goals, and timing. There may be other properties offering better value, location or growth potential, so it’s worth exploring a range of options before committing.
Which builders will give me the best service?
Look for builders with strong reputations, transparent contracts, consistent communication and a history of delivering projects on time. Reading reviews, checking credentials, and viewing past work can help you make an informed choice.
What mortgage repayment figure are you comfortable with?
This comes down to your income, expenses, and lifestyle. Speaking with an expert broker at Property Acquire will ensure you get a loan product from a lender that has the best available interest rate and terms that suit your individual circumstances.
Important Considerations
As a first home buyer, there are a few things to consider before you start your journey!
Our discovery call process
Frequently Asked Questions
What does "off market" land opportunities mean?
This is house or land that is not available to the general public – you won’t be able to buy these from realestate.com.au. They are made exclusively available to Property Acquire from our network of builders & developers.
Do I pay for your service?
No, our service is at no cost to you.
How much deposit do I need?
This depends on the purchase price but generally most people need 5% for example if the house and land costs $750k you will need $45k – this can be made up of cash savings; kiwi saver; monetary gift.
How long does the building process take?
Once the builder is on site and begins construction, your house is generally completed within 5 months.
What are some hidden fees I may not already know about?
Our finance team will always account for these when doing your loan. They are – Solicitors fees – we normally allow approx. $2k for this; LMI – as stated above; Stamp Duty – as of January 2025 the Qld Govt announced they are scrapping this on all new builds (winning); Bank fees/charges – again this is dependent on which lender you go with but we include this in the loan and can be approx. $1k or thereabouts.
What is LMI?
Lenders Mortgage Insurance is a one time fee that is added to the home loan which is a type of insurance that protects the Lender if the borrowers cannot pay the home loan. It is usually required when a borrowers deposit is less than 20% of the property value.
How much does house & land cost?
Entry level into well sought after areas of SE Qld for a new home is generally $700-$750k.
When do I start making mortgage repayments?
Loan repayments start once the buyer takes ownership of the land but note the repayments are only based on the amount of money drawn down note the entire build/loan amount – eg. If the land component of a house/land build is $340k land, $380k for house – the first few repayments will only be calculated on the land until construction starts on your house.
How can I afford to pay rent and my mortgage?
Repayments during the construction process are INTEREST ONLY as the money is getting drawn down. This is not the full Principle & Interest amount that you will be repaying during the 30-year loan period. The full monthly loan repayment amount on the total loan does not commence until the construction is completed, and the full loan amount is drawn down. This makes the juggle of rent more achievable during the build phase until you move into your new house and out of your rental.
Let's talk about your first new home.
Ready to purchase your first new home? Reach out to our expert team today to start your journey.