June 2015

House and Land Packages in Perth: How to Speed up Your Home Ownership

Another simple strategy to overcome your mortgage faster is to make one-off lump sum payments. Consider this: a one-time $10,000 payment at the beginning of a $300,000 loan with an interest rate of 4.5 percent per year could save you over $26,000 in interest for the loan’s life span. Paying off a loan is no small matter. Not all these tips may apply to you, but it’s very much possible to use more than one of these tips to speed up the time it takes for you to own your first home. To make your purchase truly worthwhile, make sure it’s built by award-winning home builders like WOW! Homes who have years of experience in offering quality house & land packages in Perth for first home buyers just like you.

Costs of Moving Out and Buying Your First Home

Are you planning to move out of your parents’ home and buying a place of your own? Make sure you make thorough financial preparations, aside from the other practical details. First and foremost, you have to determine if you can afford everything, and you should consider all the costs of moving and home buying, such as:

  • Home and Land Packages – prices can vary depending on the suburb in Perth and the features or size of the house

  • Other Moving Costs – hiring a removals company to move your belongings, using self-storage options for your other items

           Of course, you can apply for a loan to buy your first home. If you do, take note of these costs, too:

  • Deposit and Home Loan Repayments – as much as 20% of the loan may be required as a deposit, while typically, home loan repayments would be made monthly

  • Mortgage Fees – application fees, Lenders Mortgage Insurance (LMI), mortgage registration fee, and other expenses outside the basic loan costs

There are several ways to manage the costs. The government offers help to first home buyers through a grant of $10,000, but you can only be eligible if you’re buying or building a new home (not buying an established property) and if you satisfy other criteria. You can also ask your parents for help by being a guarantor in a home loan or by helping you earn more income or save more money. You just have to be creative to make the whole process affordable.

Trends in Finishing and Decorating Homes in Perth

Have you recently decided to build a new home in Perth? Various home builders in Perth allow you to be hands-on during the finishing touches of your home. You have the liberty to decorate the interiors and some of the landscape, too, once the entire construction process is complete. Here are some trends in finishing and decorating homes in the region which you can use as inspiration:

Eye-Catching Features and Finishes

Any finish can be attention-grabbing and truly steal the spotlight in every room. It can be because of the light they infuse, the colours they purvey, or the classic charm they bring. You can look for large windows with intricate designs on the frames. You can also choose floor coverings, ceiling treatments, and bathroom tiles that exude character and reflect your personality.

High-Low Styling: Fashionable yet Budget-Savvy

You can dress up your home so it’s chic, but you don’t have to splurge on it too much. Use high-low styling! Similar to how you can pick finishes, this concept involves finding a central lavish piece or the “star of the show” for each room and spending less on the supporting elements. You can have a big bespoke sofa, an extravagant headboard, or marble benchtops, which you can complement with cabinets, lamps, and other decorative pieces that are affordable but still stylish.

Home Ownership 101: Choosing Land

Owning a home is the ultimate dream for many people. As a potential homeowner, choosing the land where you’re going to have your house built can be intimidating, especially if it’s something you have no experience with. Fortunately, you can make the process easier by keeping in mind a few tips.

Location is everything

When it comes to land selection, your priority should be to choose a location that fits you and your family’s needs. This means proximity to schools, department stores, and parks must be considered, as well as the availability of multiple transportation options. Likewise, assessing the neighborhood in terms of walkability, safety, and the people living there can make a huge impact on your future quality of life.

Fit for building

Once you’ve found the right location, you need to assess the land’s suitability for home building. Building on steep ground can be costlier than level land. You also need to consider the availability of power, water, internet, sewerage, and other basic services. Flooding potential should be checked as it can influence insurance costs.

There are home builders that package house and land purchases in one convenient bundle. With this type of package, you do away with the need to select land and check its viability for building as these steps will already be done for you. You still get to choose your home’s location and orientation.

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