Perth, WA -- (SBWIRE) -- 02/21/2014 -- Capital city housing prices rose 3.4 percent in the last quarter of 2013. Rising property prices makes existing homeowners happy but can make it harder for those entering the market. As a home builder in Perth, one of the country’s fastest growing property markets, Aveling Homes offers the following home ownership advice.
1. Consult - Talk to a lender is one of the first steps home buyers should take. A lender will ascertain financial health and give an estimate of how much can be borrowed. This allows buyers to make an informed budget which will help guide the home buying process. Many first time home buyers may be new to the concept of home loans and their lender can help answer questions and explain features such as offset accounts, redraw facilities, interest only loans, and other home loan details.
2. Build - While established home prices are on the rise, constructed home prices haven’t caught up yet. A good way for West Australians to beat the bubble is by building a home. A built home’s price is based on what the builder charges for materials and labour, and can often present a good deal when housing prices are high.
3. Assist - The WA government offers generous grants and duty exemptions. The famous First Home Owners Grant (FHOG) was adjusted up in August 2013 to $10,000 for new home builds, giving yet another reason for West Australian home buyers to build their first home. In addition to the FHOG, stamp duty exemptions are also available on land up to $300,000 in value. A new home built on that land would not have stamp duty applicable.
4. KeyStart - For moderate income earners, KeyStart home loans supported by the WA government are a good alternative to low deposit home loans, which often command hefty Lenders Mortgage Insurance (LMI) or higher interest rates. In comparison, KeyStart home loans are very low deposit, yet require no LMI. Interest rates fluctuate with the market but are always very competitive. For Australians who qualify it’s a no-brainer.
5. Project - Custom home builds where the buyer makes something completely new can get quite expensive. Project home builds are where the builder works off set plans. These are home designs which have been used before and stood the test of time. With a project home, home buyers get an affordable yet well made home. Since the home design has been built before, buyers have more quality assurance compared to a completely new design. Project homes also tend to be built on schedule on cost compared to a custom build.
6. Shop - Not all builders are created equal. Buyers should shop and ask around. Reputable builders may give references and buyers can often visit their display homes to see the build quality for themselves. Builders also vary greatly in terms of the value they offer. Some builders feature promos that can save home buyers thousands of dollars.
About Aveling Homes
Aveling Homes is an award winning home builder based in Perth dedicated to providing exceptional service. Find out more about our display homes and our house and land packages by contacting one of our representatives today.
Visit the Aveling Homes website at http://avelinghomes.com.au for more details about our services and available financing options for first time home buyers.
Aveling Homes Contact Information
24/7 Metro Sales: (08) 6144 1000
24/7 Sth West Sales: (08) 9795 3444
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