Short YouTube video (creator: Aaron Whybrow) giving practical advice for first-home buyers. Covers preparing finances for purchase (income, bonuses, deposits), deposit sources (savings, gifts, parental assistance), overcoming “genuine savings” hurdles when renting, state-first-home buyer benefits, and a brief note on buying later as an owner-occupier vs renting to invest.
Hey, it's Aaron from Diagnostics and Finance. Just a quick first home buyer video. Now I've been talking about the triangle of love. It's the same thing when we overlay it with first home buyers to renovations, to refinancing, the whole thing. So we have to get the bank ready and aligned with you as the income, the bonuses and the deposit. Then we need to get the property ready as well and make sure that it's fully complete ready for you to move in if it's a construction. So first home buyers, there's a couple of aspects that we can deal with. Deposit, we can look to mum and dad's home, we can look to a gift, we might have some savings. And if we are renting in a rental property managed by an agent, we may be able to overcome some of the bulk deposit problems that are faced with a thing called genuine savings. With a first homeowner's benefits, they do vary from state to state and they vary in amount. So it's really good to qualify yourself by checking out the office of State Revenue in your local state and territory and seeing if there's any benefits there. If you're not a first time buyer and you want to sit in your home and rent and then invest into property so you can get a lower price, that's another thing that can benefit with growing your wealth and getting the property you want down the track as you grow and you've got extra income. Just a little video for first home buyers. Thanks. Bye now.