The best way to buy your first home is by finding a local landlord who will do the work for you.
And that can take several months.
Here are some tips to help you do just that.
Read more: The key to a first-home purchase is getting a lease, said Sydney’s Lottie Riddell, a real estate agent.
“If you have the right amount of money in the bank and the right interest rates, then you can put money in a loan and then buy a property.
It can take a year, a year and a half or a year to get a loan out of a local lender,” she said.
So how do you get a property?
You’ll need to find a property that is suitable for a first time buyer, including a flat, small or medium-sized home.
For example, a property with a ground floor or a basement will not be suitable for first time buyers.
Once you’ve found a property, you’ll need a deposit.
The deposit will be for at least 10 per cent of the sale price of the property.
If you’re buying for a large family, it could be 20 per cent.
You’ll also need to pay the mortgage upfront.
There are some exceptions.
If you’re already renting, you may be able to get your deposit reduced to a flat payment of up to $750.
You can then use the proceeds to buy another property if you have enough equity to repay.
In some areas, including Victoria and New South Wales, a flat mortgage payment is also available.
But there’s a catch: you’ll have to live in the property before you can apply.
Getting a loan is tricky, but you’ll usually need to get permission from the local council.
When you buy a house, you have to buy it on your own terms, meaning that you’ll not be able sell it on the open market.
Landlords are more likely to offer to help, and if you need advice about buying, you can call them on 1300 858 828.
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