First home buyers (FHBs) are currently in line for the opportunity of a lifetime, and now they can access a unique buyers' support system that will ensure the all important first purchase is one that will put them on a successful financial footing.
With the banks offering record low interest rates and the commencement of the First Home Loan Deposit Scheme (FHLDS) in January 2020, the cash will certainly be plentiful, but buyers will need to be on their game in order to make the most of the opportunity.
Leading Property Strategist, Debra Beck-Mewing, said buyers who qualify for the FHLDS will need to skill up on key actions including how to find, assess and negotiate purchases and be vigilant about acting on the right information.
"We see many first time buyers who are given pre-approval but then burn months and months trying to make a decision. It's these buyers who then fall prey to the marketeers and spruikers who push them into problem properties," she said.
Market forecasters are predicting property prices will spring upwards by more than 10% in the next few months, so FHBs will be under pressure to make good decisions quickly. Most buyers will have some knowledge of one aspect of the buying process, but to be successful buyers need to be across all aspects. At a bare minimum, consider the following key tips.