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First time buyer? Tips for aiding real estate success in SA

26 Mar 14

As a first home buyer approaching the South Australian real estate market, you'd be forgiven for feeling a little overwhelmed. After all, if you've never had any experience with the lingo and jargon involved with property, it could sound like another language altogether. 

However, it doesn't have to be a confusing, testing experience. Seeking real estate advice is always a great way to gain insight into the market, which can help you make the right decision in the long run. 

Furthermore, there is a wealth of information online that can be used to inform your choices. Here are some real estate tips to get you started. 

Location, location, location

Purchasing property is as much about the future as it is the present. What this means is, chances are you'll stay in your home for an extended period of time, so ensuring you take this into consideration when looking into neighbourhoods is essential. 

For example, how far away are you from your place of work? Is there enough public transport infrastructure there to make your commute painless? Do you have easy access to main roads for driving? 

Furthermore, ensuring your home falls within the zoning laws of nearby schools is a crucial thing to consider if you're planning on having children. 

Budgeting for success

Before approaching the market, it's important to check out the status of your financial health. Approaching a lender will provide you with a decent overview of your standing, which you can use to make a more informed decision. 

Remember that the usual home loan deposit amount is 20 per cent, although this varies between different lending institutions. Furthermore, doing everything you can to increase your chances of securing a home loan - taking care of outstanding debt, closing unused credit cards, etc. - could be a great way to help boost your likelihood of success.