THREE REASONS NOT TO FREAK OUT IF YOU’RE A FIRST HOMEBUYER
We won’t mention avocados or café lattes in this article, because we want to help. At Homebuyers Centre, we’re passionate about the freedom that home ownership offers and we don’t believe you have to suffer to get there.
What you should know is that Melbourne’s outer suburbs offer affordable housing to help you enter the housing market, and there is finance help out there to make it possible. Owning your home in Melbourne can be possible with Homebuyers Centre, and you might be surprised at what you can afford
If all you’ve read about property in Melbourne is disheartening, here’s some food for thought:
1. #TRENDING NOW SUBURBS FOR FIRST HOMEBUYERS:
The Geelong region is trending right now with the recent government boost for the First Home Owner’s Grant (now $20,000 in regional areas). Lara, 18km north of Geelong, has been trending over the past 12 months – with existing schools, its own train station and convenient access to the Avalon airport.
MELBOURNE’S WEST: Tarneit.
The growth in Melbourne’s Western suburbs in recent years have enabled many first homebuyers enter the market already, but as more infrastructure is scheduled to service the Wyndham corridor, now is a great time to buy. The outer western suburbs such as Wyndham Vale, Werribee, Tarneit and Truganina still provide affordable entry in to the current property market.The population of Truganina is forecast to double to 40,000 by 2036 while that of Tarneit will almost triple to 89,417 in the same period, according to Wyndham City Council data.
MELBOURNE’S SOUTH EAST: Cranbourne.
Cranbourne has a strong family demographic supported by significant service provision such as sporting facilities, a train line into Melbourne and over 20 public and private schools in the surrounding areas. To back this up – Property Investor and best-selling Author Margaret Lomas told Money Magazine that with a median price of just $380,000 and a rental yield of over 4.5%1, Cranbourne is an area to invest in 2017.
MELBOURNE’S NORTH: Plumpton.
Plumpton has developed an enviable reputation as a desirable destination for families and professionals over the past few years. Close to Caroline Springs and Watergardens, Plumpton is a perfect destination for those who perhaps have been renting in Melbourne’s north but are looking to purchase a home of their own.
2. PARENT ASSIST
Are you a parent wanting to help your Millennial offspring into a house of their own?
If your children choose to build with Homebuyers Centre, you can make the most of Resolve Finance’s ‘Parent Assist’ solution, which won’t involve risking your home just for trying to help your family out.
Here’s how it works: Your parents loan you up to 20% of the purchase price. The bank provides the rest. You repay them with interest like any other official loan but at half the rate of your home loan and your parents don’t have to go guarantor for you. Another benefit is that you can still enjoy the First Home Owners Grant and stamp duty concessions and save on mortgage insurance as a first homebuyer.
3. MY HOME PLAN
Been unlucky with finance in the past?
Homebuyers Centre have partnered up with Resolve Finance to offer My Home Plan to help you save. You’ll be assigned a finance coach, who will conduct a full analysis if your current financial situation, consider your goals and create a personal finance plan for you. You can update and track your progress through our secure website and will be rewarded for reaching your goals along the way.
So, don’t give up.
At Homebuyers Centre, we’ve helped over 30,000 Australians build their own homes in the past 25 years with first homebuyers firmly in our hearts.
Try us – even if you don’t think you can afford a home in Melbourne, a phone call to a New Homes Consultant might be just what you need. 131 151
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