top of page
  • Writer's pictureAsef Baqee

Things to consider when you’re a first home buyer

Updated: Nov 23, 2023

Before you make any decisions regarding your future residence and the type of home you aspire to own, it's crucial to ensure that your financial situation can comfortably accommodate mortgage payments and the various expenses associated with homeownership, such as property taxes. For most individuals, affordability stands as the primary determining factor when contemplating their first home purchase.

As the prices of pre-existing homes continue to escalate, the allure of constructing a new home on a vacant block in one of the developing suburbs has grown substantially among those aspiring to enter the property market.

The outskirts of Sydney are experiencing rapid expansion as they strive to meet the surging demand for new housing. This translates into an increasing number of opportunities for first-time homebuyers as additional land becomes available and fresh development projects are unveiled.

In response to the needs of prospective new homeowners, Riverview Homes offers a value-for-money proposition to build a great quality home. Presently, families have the option to choose from a diverse array of home designs in developments spanning the southwestern, northwestern, and western suburbs of Sydney.

Now, let's revisit the topic of affordability. Before embarking on the quest for your ideal property, it's imperative to fully comprehend the financial commitment involved in purchasing a home. What is a realistic budget for you and your family? Where can you feasibly afford to live? And does the area possess the necessary urban infrastructure to support a convenient and enjoyable lifestyle for you and your family?

Additionally, it's essential to consider your source of financing. Should you opt for a bank or a mortgage broker? Seeking sound financial advice is paramount to ensure you can comfortably manage mortgage payments while maintaining a desirable quality of life.

As Sydney's urban expansion continues and improved transportation options make residing in outlying suburbs more practical, first-time homebuyers are presented with an increasing array of locations to choose from. Nevertheless, just as seeking financial advice is crucial, it's equally important to conduct thorough research and select a reputable builder with a proven track record of constructing high-quality homes. Assess their build quality, industry experience and scrutinize the guarantees they offer.


9 views0 comments

Comments


bottom of page