What I Wish I Knew: Our Team’s Tips For Buying Your First Home
Buying your first home involves making one of the biggest decisions of your life, So, we teamed up with our mates at Homebuyers Centre—the experts in finance, land, home and building services—to ask the Urban List team one simple question: what's the one thing you wish someone had told you before buying your first home?
Here’s what we’d tell our first-home buyer selves.
Try (The Suburb) Before You Buy
Unfortunately, houses don’t come with a one-night trial. Imagine how much more at ease you’d feel if you could spend one evening observing whether the neighbours have a karaoke habit, if the bedroom gets the 5am sunrise treatment, or whether the morning traffic turns the street into a car park.
Sadly, that’s not how it works. But according to our Senior Client Service Manager, Pia Priestly, there's a pretty good alternative.
“If you’re moving to a new area, take your time to properly explore the area first to make sure you actually like it,” she shares.
It’s all too easy to fall for a suburb after one sunny afternoon with an excellent flat white in hand. Spending a couple of days there over time is another story. Plan a couple of weekend visits to test the commute, gauge the noise levels, scope out the local haunts and work out whether it’s somewhere you can genuinely picture yourself long-term. Even spend a night there in an Airbnb to get the gist of the lifestyle.
It’s a sentiment echoed by Client Service Manager Mary David.
“Location’s really important. Look in the area that you want to live in and make sure you love it. Even if where you end up is smaller than your dream place, it’ll be so worth it in the long run to be in a spot that you like living.”
Because buying the right home matters, but buying in the right neck of the woods often matters even more.
Do Your Homework Before You Pick Your Tiles
Buying off the plan is a really strong option if you're ready to take the leap into the property market. The display homes are immaculate, the renders are worthy of your Pinterest board and suddenly you’ve developed very strong opinions about splashbacks.
Looking back, our CEO Jacs La'Brooy, says she’d spend less time admiring the finishes and more time choosing the right business to trust.
“If you’re looking to buy off the plan, make sure you do your research on the builder or company to ensure they’re reputable.”
That means reading the reviews, looking at previous builds, and asking plenty of questions. The styling might get you through the front door, but confidence in who’s building your home is what really matters once the excitement wears off. This is one decision you definitely don’t want to rush.
Give Your Budget A Buffer
Everyone remembers to budget for the deposit. Fewer people remember the sneaky expenses that stack up once the keys are in your hand. The removalists. The blockout blinds. The insurance. The emergency trip to Bunnings that ends with a trolley full of things you didn’t know you needed. That’s why Head of Strategy Hamish Taylor’s biggest piece of advice is not to spend every last dollar.
“It’s always going to cost more than you think, so don’t max out your budget.”
And if you've got a steady income but don't have the savings for a traditional 20% deposit, Homebuyers Centre also offers eligible first-home buyers a $5K deposit pathway through Resolve Finance.
Client Service Director Felicity Johnson agrees, adding that your buffer shouldn’t JUST be for surprise expenses.
“Budget for your lifestyle, too. If you really love travelling, going out for dinner, make sure you can pay for that with your repayments.”
After all, buying your first home shouldn't mean putting the rest of your life on hold. Leaving yourself some breathing room means you can absorb the unexpected costs and still say yes to the occasional weekend away, dinner at the pub with pals or a gig ticket.
Don’t Wait Until You’re ‘Ready’
If there’s one thing our team wishes more first-home buyers knew, it’s that you don’t need to have everything figured out before asking questions.
Head of Sales Spyros Asteriou’s advice is simple. “Know where to get the right information. Speak to a broker, ask friends who’ve been through it, and make sure you understand the process before you take the plunge.”
Commercial Content Editor Bridget O’Donohue shares a similar view.
“If you think you’re getting close to where you want to be with a deposit, speak to an expert. They’ll help you understand and decode all of the grants, government schemes and all that nitty-gritty—and exactly how it applies to your circumstances. They’ll also help you calculate your borrowing power and find out what’s achievable based on your income and circumstances.”
The property market comes with enough jargon to put the whole shebang in the ‘too hard’ basket, but you don’t need to figure it all out on your own. Speaking to an expert early—whether that's the team at Homebuyers Centre or a broker from Resolve Finance—the team can help you understand your options and get a realistic picture of what's possible.
The Bottom Line
You might not get the overnight trial we’d all secretly want, but you can go into the process armed with a little more knowledge.
When you’re ready to make your move, Homebuyers Centre can help, with more than 35 years spent helping Australians navigate everything from finance and finding land to building a brand-new home.
Editor’s note: This article is sponsored by Homebuyers Centre and proudly endorsed by The Urban List. To find out more about who we work with and why read our editorial policy here.
Image: Urban List.
*Terms and conditions apply, see Homebuyers Centre website for details. The building practitioner is ABN Group (Vic) Pty Ltd trading as Homebuyers Centre CDB-U 49215 and Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN 65 079 545 378, Australian Credit Licence No. 385487.