Perth, Australia -- (SBWire) -- 12/03/2013 --Australians are in one of Australia’s best property locations, with Perth home values up 7% year over year . Being in a growth area isn’t all there is to buying a home though.

First Home Owners Centre’s professional team has helped thousands of Australian make the transition to home ownership successfully and offers the following advice.

1. Know The Score
Most homebuyers go into the process without a clue of how much they can really borrow. A smart first step for potential buyers is to go to a lender and get a simple pre-approval done. A quick survey assessment can give buyers a good idea of their borrowing potential and help speed up the loan approval process.

Buyers who find out they don’t have the credit to buy the home they want can get started on saving up ahead of time instead of getting rejected for a loan at the last minute and having to start all over.

2. Construct a Loan
When a home is being built, a type of a loan known as a construction loan can help home buyers reduce their monthly payments. This type of loan pays the builder in chunks, with each completed phase of construction releasing the next set of funds. The construction loan structure is easier on the borrowers bank account during the build as they only have to make interest payments during this period.

3. Build an Investment
Many first time home buyers build the home of their dreams without considering ever selling. However, it’s smart to build a home that’s not only comfortable to live in, but also holds its value over time and turns a profit if it is later sold. This means buying in a good location with growth potential.

It means going with a project builder for the best cost effectiveness. It also means not over-capitalising on extra options. The original designs from builders generally can be built efficiently at a great price and a few standard options can add value, but adding too many extra to make a very “custom” home not only adds extra cost, but adds time to the build and doesn’t usually give a good return on investment.

4. Borrow Smart
Home loans are quite diverse. For most Australians, a standard variable loan makes a lot of sense and allows flexibility. Fixed rate loans can be nice in this low rate environment but variable rate loans usually have features like offset accounts that make them quite competitive.

A loan with low monthly payments that allows for extra repayments lets buyers buyers shorten their loan period when they wish yet have the peace of mind that they’ll be able to stay current on their loan.

5. Leverage Experience
The last but most important factor in the first home buy is choosing a builder. The builder needs to have experience first and foremost to guarantee they can deliver on their designs and produce a quality product. A good builder will be be transparent and upfront about costs, inclusions and what is excluded.

About First Home Owners Centre
FHOC is the First Home Owners division of HIA award winner Aveling Homes, one of Western Australia’s most quality focused building companies. What this means is that above all else, quality and affordability is what will experience when choose FHOC.

Visit the FHOC website at http://www.fhoc.com.au for more details about the services and available financing options for first time home buyers.

First Home Owners Centre Contact Information:
24/7 Sales Enquiry line: (08) 6144 1088
Email: sales@fhoc.com.au