WELCOME FIRST HOME BUYERS!
Stepping into the world of home ownership is a thrilling journey and The Happy Finance Company is here to ensure it’s filled with joy from the get-go. Whether you’re piecing together the puzzle of your first home purchase or just starting to dream about it, we’ll guide you through every twist and turn.
Your roadmap to buying your first home
Buying your first home can feel like a big step, but it becomes much more manageable when you break it down. Here’s what the process typically looks like:
Step 1: Understand your position
Review your income, savings and expenses so you know where you stand. This helps you see what may be possible and where you might need to make adjustments.
Step 2: Get clear on your budget
Work out your deposit, explore any grants or concessions and understand how much you may be able to borrow. This gives you a realistic price range to guide your decisions.
Step 3: Get pre-approval
Fixed vs Variable rates, Interest Only vs Principal and Interest loans—we'll help you navigate these choices to find the best fit for your financial goals.
Step 4: Start your property search
Look for a home that fits your needs and budget. Having a clear idea of what matters most can make the search more focused and less overwhelming.
Step 5: Make an offer
Once you find the right property, you can make an offer and begin the process of securing your home. This is where things start to move more quickly.
Step 6: Finalise your loan and settle
Buying your first home involves conveyancers, solicitors, building inspectors, and more—understand the roles of each in your home-buying journey.
What you need to know as a first home buyer
Deposit size and savings plan
Learn about the deposit needed for your first home and tips to help you save for it efficiently. We'll also cover low-deposit options.
Enhance your borrowing power
Discover how guarantor loans can enhance your purchasing capacity and learn about the government grants and concessions available to first home buyers.
Choose the right type of loan
Fixed and variable rates, as well as interest only and principal and interest loans, can all shape how your loan works. We’ll help you navigate these options so you can find the best fit.
Manage additional costs
From Lenders’ Mortgage Insurance (LMI) to government fees, we’ll explore the extra costs involved in buying a home and strategies to minimise them.
The experts you'll need
Buying your first home involves professionals like conveyancers, solicitors and building inspectors. Understanding who does what can make the process feel more straightforward.
Our services to you come at no additional cost
You do not pay for our services. When your home loan settles, the bank or lender you choose pays us, so there is no extra cost to you for using a broker. The way brokers are paid is also fairly consistent across banks and lenders, so there is no incentive for us to favour one over another. Our focus is on helping you find a loan that suits your situation and feels right for you.
Take the next step with The Happy Finance Company
Want to buy your first home but not sure where to begin? We can guide you through each step, from understanding how lending works to preparing your application and getting pre-approval in place. It’s never too soon to start, even if you’re thinking of buying 6 to 12 months down the line. If you’d like guidance tailored to your situation, get in touch and we’ll help you move forward with clarity.
FAQs
What is the first step in buying my first home?
As a first home buyer, the first step is understanding your financial position. That means taking a clear look at your income, savings and any existing commitments so you know where you stand.
Speaking with a broker early can make things feel much more straightforward. They can walk you through how it all works, what lenders are likely to look for and what you may need to prepare, so you are not figuring it out on your own.
How much deposit do I need to buy my first home?
The deposit you need to buy your first home depends on your situation and the lender you choose. A larger deposit can give you more options, but lower-deposit pathways may also be available if you are eligible.
Your deposit plays a key role in how much you can borrow and whether additional costs apply. Understanding what support is available and how it fits your situation can make the whole process feel much more manageable.
How do I choose the right home loan for me?
You choose the right home loan by finding one that fits your situation and feels manageable over time. There is no single "standard" loan, and what works well for one person may not suit another.
Interest rates are important, but they are only part of the picture. Features, flexibility and how the loan works day to day can make a real difference, so it helps to look at how everything fits together, with someone there to guide you through it.
ANDREA PALELLA (O'SHEA)
MATTHEW GOODYEAR
MATHEW CROSSLEY
JESSE ROSS
