Buying Your First Family Home: Top Considerations

Have you finally decided to stop renting and start owning your family home? Fortunately, there are several land and house packages being offered in Perth that you can select from. However, you must make sure that you’re ready for the investment. Here are the top considerations before buying your first family home:

Determine how much you can afford, and build your savings.

Decide how much you’re willing to spend on the home, plus all other fees and maintenance costs, including insurance. Explore different suburbs to see where you want and can afford to live. Save 20% or more of your ideal home price as a deposit. Shop for a home loan based on your lifestyle, particularly on the amount and frequency of your income.

Pick a layout that suits your family.


Make sure you have enough bedrooms and bathrooms, and check if the shared spaces (the lounge, kitchen and dining area, the courtyard, etc.) can fit all of you or the items you want to place there. For instance, if you have more than one car, look for a home with a garage that’s spacious enough for your vehicles.


Choose an established contractor.


Lastly, you need to look for an experienced contractor, preferably one that specialises in first home buyer clients. These companies are familiar with your concerns (or advise you on aspects you might not be aware of), and they can closely guide you through the process of home ownership.


How to Style Your Multi-Purpose Spare Room

With new homes being designed with more functional spaces for residents nowadays, couples or small families usually end up with a spare room that they use for a variety of purposes. It can easily become a messy, cluttered box, especially if it is not styled according to its functions. You need to work out what would the room be really used for and then design and arrange it to fit those purposes.

Here are some of the common multi-purpose rooms and how you can style them:

The Home Office and Gym

If you work from home and you want to set up a gym at home, too, you can certainly turn your spare room into a dual-purpose space for a home office and a gym. Make sure you have storage cabinets or chests for yoga mats, weights, and other gym equipment (and use them diligently!) to keep the room from looking cluttered.

The Bedroom and Private Nook

If relatives or friends occasionally visit, a guest bedroom is certainly a must, but when the room is unoccupied, it can be your private nook to read for leisure, let your kids study in peace, develop your crafts, or anything else you fancy. Aside from strategically arranging the key furniture like the bed and sofa, you can also use plush, space-saving sofa-beds that you can easily pull out and put beddings on for guests when they stay over.

First Home Ownership: What to Expect

For many people, purchasing their very own homes lies at the very top of their life goals. To help you get ahead and maximise your chances of success, know that no matter how convoluted and lengthy the new home purchase process may be, it can be broken down into a few simple steps. Use the following as a guide to know what to expect:


Make a list of the features you want your new home to have, such as material details, proximity to necessary facilities, and availability of basic services. Evaluate three to four properties to get a feel for the market.


Get pre-approved to know how much you can borrow before you start talking to builders and real estate agents. Do this at least six months in advance.

Furnish your loan documents

Once your lender approves your loan, you will receive a loan contract detailing your loan’s terms and conditions. It’s best to have a legal representative clarify these to you before you sign on the dotted line.

Make the offer

Armed with a loan, you may then talk to real estate agents and home builders to make an offer and negotiate the price. Have your representative review the contract for sale.

Settle and move in

Once loan requirements are settled and the home sale closed, you can now move in and start enjoying your home.

Buying a House vs. Buying a House and Land Package

These days, most new homes are constructed by property developers who purchase land once the government releases them. After infrastructure is laid, the developers will either build homes and sell them as complete house and land packages, or allow potential buyers to choose the blocks of land they want and the features they want their new homes to have.


For most homebuyers, the second option is the better one to make because it ensures they get the property that suits their needs at the location they want to be in. Likewise, because it’s a new home construction, they don’t have to worry about major repair and maintenance costs in the foreseeable feature, which is a common problem when purchasing an old, established home.


There are two comparable differences between buying a house and land package and buying a house. First, house and land packages are often designed to appeal to a target audience. That’s why some of the communities where you’ll commonly find them include golfing estates, retirement villages, and even eco-villages.


Second, while financing a home purchase only requires you to obtain a traditional home loan, financing a house and land package usually consists of two steps: buying the land with a regular mortgage, and building the house with a construction loan. The loans can be obtained separately, but are usually combined for convenience.

Home Buying for Couples—To Split (The Bill) or Not

Bills aren’t complicated—you get them, you pay for them. The problem comes when someone is supposed to share the bill with you. Will it be an even split, or will one of you have to shoulder more of the expenses?

If you’re married and about to purchase a new home, this can be a polarising issue. Naturally, you’ll want your monthly repayments to be an even split between you and your partner, but It’s important for both of you to discuss this issue seriously and come up with an answer that both parties can agree to. Otherwise, not only will you be straining your finances, but maybe your relationship as well. Continue reading

To Rent or Buy Your First Home?

Buying a property is one of, if not, the biggest monetary decisions you’ll ever make. How do you know if buying is the right decision for you right now, or if you should be renting instead? To help you choose better between the two options, here are some points for you to consider:

Benefits of Owning a Home

Once your mortgage is paid off, your home will be all yours. Should you decide to sell it in the future (which you are free to do since you own the home), it could be worth more than you paid for it. Continue reading

First Home Buyers Grant 101: Residence Requirement

The most basic eligibility criteria to get a First Home Owners Grant or FHOG are pretty simple. You need to be an Australian citizen or permanent resident buying or building a new residential property (the grant for established homes has recently been scraped off the WA budget) for the first time.

Beyond these eligibility points, you need to satisfy some requirements to receive the grant successfully, and one of these necessities involve residing in the property that you will be building. According to the Office of State Revenue, “Each applicant must occupy the home being purchased or built as their principal place of residence for a continuous period of at least six months, commencing within twelve months of completion of the eligible transaction.”

What Does This Mean?

In simple terms, you should have the intention to live in the house you’re purchasing and realise those plans within a year after construction is finished. The house should be your principal residence, which can be determined by several factors, such as sleeping, eating, entertaining guests, and using basic utilities in the property.