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What Do You Need to Know as a First Home Owner?

Buying your first home can be an exciting but confusing time. With so many options available, it can be hard to know where to start. Here at Arramont, we believe that your journey to first-home-ownership shouldn’t be complicated. That’s why we have put together the following guideto help you navigate the first homeowner waters. Research the market All well-executed projects start with research, and the purchase of your first home should be no different. You will want to determine where you’d like to buy, what the recent trends are for your preferred neighbourhood and a realistic budget. This research phase is a great time to see if you are eligible for any government grants or stamp duty concessions as a first homeowner. Know your budget Whether this is through talking to a bank and getting a conditional pre-approval or crunching the numbers yourself - knowing your budget is a crucial factor in purchasing a home. Your budget will help you determine the required deposit amount and how much you can afford to repay for your mortgage repayments. It’s essential to be realistic with your budget; you don’t want to commit to 30-years of paying for something you really can’t afford. And don’t forget to set aside a bit for landscaping! Discover your new community for local amenities. Are they already established? Or are they planned for the future? Are there train or bus services close by? What about supermarkets and educational facilities? Now is the time to consider what you will need not only now, but into the future. Find your place So you have your budget and your preferred community, now it’s time to find your dream home. From purchasing land-only or a house and land package, there is something out there to suit everyone's budget and preferred lifestyle. Have a look around at display villages, and get an idea of the style of house you want. Make sure you are looking at homes that will fit your budget, lifestyle and block size. Consider the number of rooms you may need in the future, three bedrooms may suit now, but you may eventually need four. If you need help figuring out your first homeowner journey, the Arramont team is on hand to step out the process for you. Pop into the sales office at 290 Craigieburn Road East, Wollert or give the team a call on 1300 965 537.

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Should You Consider a House and Land Package?

Whether you’re looking for a place to live in or invest in, purchasing a house and land package is often the easiest option! Let’s take a look at the benefits that house and land packages have over buying land alone (then doing a custom build later) or buying an existing house, and also why packages may be the better choice for property investors. Why it beats buying land only Opting for a house and land package can be far less stressful than securing a vacant block of land with a view to building a custom residence on it later. Developers, builders, architects, and interior designers have already done a lot of research and legwork for you in terms of designing a home that fits the land size and shape perfectly and meets all regulations. Packages are typically less expensive because they are often offered in bulk and come in designs and materials the builder has worked with before. And you’ll know exactly what you can afford as the price is fixed from the beginning; no more tricky negotiations or auction day disappointments! Another benefit is the time saved. There is no time wasted in hunting for the perfect builder, securing their services, the back and forth of creating a new design or looking for specialized tradespeople. You’ll be surprised at how many extra tasks you’ll have to do yourself during a custom build. A house and land package means your family can move in sooner! Why it’s better than purchasing an existing house If you meet the eligibility requirements, the FHOG (First Home Owners Grant) equals a cool $10,000 coming your way. To sweeten the deal further if you intend to live in your new home for longer than 12 months you’ll also be eligible for the PPR (Principle Place of Residence) concession. Not sold yet? In addition, you’ll save on stamp duty as you’ll only be paying it on the land portion of the package. With existing homes, it’s hard to find the colours, fixtures, and fittings you love without adding further cost or renovations and if it’s a “fixer-upper” you may not even be able to move in on settlement day. The older the house is, the higher the chance that you’ll find something broken or not quite right once you move in. Plus nothing compares to that feeling of coming home to a brand new house! Why it’s good for property investors The previously mentioned cost-effectiveness, time and energy savings and predictability aspects of buying a house and land package equally benefit investors. Yet there are more advantages. Brand new homes depreciate faster than existing ones, meaning investors can claim the maximum tax benefits (according to their situation). Builders warranty means your investment will be more protected than an older home for years after it is completed. Finally, one of the most attractive reasons for investors to choose a house and land package over an existing property is that brand new homes attract both higher rent and better tenants! Offering a perfect balance of city convenience and semi-rural freedom, Arramont Wollert has a variety of packages to suit all needs and budgets, for more information on house and land packages, follow this link www.arramont.com.au/house-and-land, call 1300 965 537 or drop into our sales office located at 290 Craigieburn Road East, Wollert.

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What Do You Need to Know as a First Home Owner?

Should You Consider a House and Land Package?

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