“Home sweet Home”- This is not just a phrase but an emotion and a dream of many. Relaxing in the lawn after an exhausting work hour, celebrations with a barbeque in your own backyard, enjoying the pool time with your kids on a summer night, growing your own strawberries in your garden… these feelings are just so delightful.

But yes! You might say “Buying a home isn’t as pleasant as you envision”. Somehow, you are correct though. A huge finance commitment , Government compliances, paperwork, mortgage, loan, repayments, deposits… all things roll up along with the pleasant imagination of relishing your own home.

If you compare rented properties , with owning your own home, it is quite relatable to Adjusting Vs choosing your own comfort zone. We all have rented a property at some point in our life and we are familiar with the fact that what we see is what we get. We cannot add value to the rented space. On a brighter side, It is for sure, a low maintenance cost, but we do have to make lots of adjustments throughout our renting.

While on the contrary, having your own home gives you the perks of customising the space as per your preferences.  Either you want to adjoin a balcony, or set up a whole new bedroom, or you want to grow your own organic veggies in the garden, is completely your choice. Yes, having your own home will be a  high maintenance affair, as it gives you the comfort of  having your customized bedrooms, bathrooms, backyard, garden, etc.. But isn’t it worth it after all?

Another reason that it’s high time for you to buy your own first home is that you will be able to grab numerous concessions regarding stamp/ transfer duties under the scheme of “First Home Buyer Assistance Program ” introduced by the Federal and state government. In other words, buying a property  is, in a way, a secure Future investment for you as well as your kids. Placing your life long savings in a bank account results in lower and limited returns. However, the return on investment property in Australia is about 6- 8%.  So, investing money in properties is a promising option. After all, your money must be doing something good for you.

Also, if you do not have time to research in trading into stocks and shares, coins and invest money over the market, OR if you believe in “not putting all the eggs in the same basket”, investment in properties is really a good alternative. It can be a sort of passive income. Plus, cherry on the top, you can enjoy and create memories with your family in your “home sweet home.”

Buying a property not just include the property price, but also demand other various procedures and expenses such as:

• Loan mortgage and application fees
• Insurance
• Stamp/Transfer duty
• Legal/ conveyancing fees
• Pest and building inspection report
• Utility connections and so on..

So, once you are mentally prepared for buying your first property, seeking the help of the right mortgage broker is of utmost importance. They give you the idea of your maximum borrowing capacity with competitive rate by reviewing your incomes, expenses, savings and overall financial situations and personal behaviour.

All the banks give you the loan based on their Core Five C credit assessment, namely Character, Capacity, Capital, Collateral and Conditions. Based on these parameters, mortgage brokers assist you with the loan procedures, repayments and finance facilities. Your mortgage broker also plays a vital role on behalf of you by negotiating and comparing different home loan products. Also, they help with the updated information about all the above mentioned costs. All the paperwork and technical aspects are handled smoothly if the right mortgage broker is chosen.

Lastly, to conclude, huge decisions definitely need a good amount of research. So it is super logical to get assistance from people that actually know what they are doing. Large amount of money is to be invested, so getting professional help in this field is paramount.