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Saving for your first home at Allara, Eglinton

Buying your first home is exciting. It’s a time when your new home dreams become a reality and you move into a home that is yours to enjoy. But owning a home is also a big responsibility and one you should plan for.

Getting your finances in order before you go on the hunt for your new home is essential as finance is one of the top reasons first home buyers can come unstuck when making their first steps towards their new home dreams. 

Below we share some tips to being prepared and informed about financing your house and land package.

*The above is intended as a guide only. Please consult a financial advisor.

Work with professionals

At Allara Estate, our Estate Manager, Gina can help guide your buying process, working with your budget and helping you partner with the right builder for your block of land. Years of experience helping first home buyers gives you the peace of mind that with a little guidance, owning your new home is easy to do.

Do your homework

There are so many incentives for first home buyers. The WA First Home Owner Grant provides purchasers with a one-off payment to assist you in buying your first home. The below video from the WA Department of Finance explains more about this grant, but be sure to research up to date information on the WA Finance Department website when it comes time to explore your finance options.

First Home Buyers Grant - Finance WA

Saving for your deposit

Saving for your deposit can seem like a big task, but there is help for first home buyers. Keystart was established in 1989 to provide low-deposit home loans to West Australians unable to meet the deposit requirements from mainstream lenders. Deposit amounts range from 2% to 7% depending on your home location and eligibility. Check out keystart.com.au to explore if this is the right option for you.

Be money smart

Saving for your deposit can sometimes be the focus of saving for your first home, but don’t forget the other costs you need to plan for. Furniture, electrical, decor and moving costs are all other ‘extras’ you should keep in mind. Being money smart in the months before you buy your home is a great move to keep extra savings around you, ready for when you need them most. Selling your unused or unwanted items on eBay or Gumtree can not only help clear out your home before move day but earn you money too! 

Explore land for sale or speak to Allara Estate Manager Gina Gould to begin your new home journey at Allara Estate, Eglinton.

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