Buying Your First Home
Ideal loans for first home buyers
QTMB realises buying your very first home is a unique experience and while searching for the perfect home is exciting, finding a home loan to match can be difficult. That’s why we’re offering a home loan package designed specifically for first home buyers – it’s our way of helping you enter the property market. Plus we can also help you through the entire home buying process.
Before you start searching
Know how much you can borrow
Before you set out looking for your dream home find out exactly how much you can borrow. Also consider the affordability of the loan if interest rates were to change. Make an appointment with us to discuss all financing options before you start your search.
Do your research
Find out as much as you can about the suburb you are interested in. Recent property sales, median house prices, and facilities in the area are just a few examples.
Use as many sources as possible
Don’t limit your search to online real estate sites. Sometimes houses may only be listed with local real estate agents or the newspaper so widen your search to uncover all possibilities. Getting to know some of the local real estate agents in the suburbs you're interested in may help you
Choose a Conveyancing Solicitor
It is best to make contact with your preferred provider before the contract period commences.
You’ve found the one…what’s next?
So you’ve found the perfect home, in the ideal suburb all within budget…now what?
Get a copy of the Contract
Obtain the Contract of Sale from the selling agent and ensure you are satisfied with the conditions of sale. It is advisable to get your solicitor to check your contract before making an offer.
Make an offer on the property
Submit an offer on the property subject to building and pest inspection and final finance approval. If your offer is accepted then the contract is signed by both parties and a deposit must be paid. Before signing the contract, it is a good idea to speak to your conveyancing solicitor if you have any questions.
Contact your Conveyancing Solicitor
Contact your solicitor, advise them of the offer and provide them with a copy of the contract. Your solicitor will conduct various searches, liaise with the seller’s agent, prepare settlement fees and advise of all payments due on settlement.
Organise Building Insurance
Once you have signed the contract, you must arrange building cover immediately.
Advise QTMB of the details of the offer
Contact QTMB and provide them with a copy of your contract and your solicitor's details. QTMB will then arrange a valuation on the property and finalise your loan application for approval.
Arrange a Building and Pest Inspection
Ensure you carry out your building and pest inspection within the specified timeframe.
QTMB will arrange final payment of the property on your behalf and you will then receive legal title of the property, and the keys! It’s time to celebrate as you are now officially a home owner!
You’re a home owner…
Congratulations! With all the stress behind you now it’s time to enjoy your new home. Here are just a few things you may need to consider before you move in.
Now is the perfect time to create a complete household budget for everything from food and entertainment to gifts and house repairs. QTMB’s online budget planner is a great way to work out a realistic budget which includes all your expenses.
Protecting your new home and all its contents is vital. Now is a great time to review all your insurance needs. Contact QTMB on 13 29 30 to get a quote today.
Take an easy next step
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