Home buyer’s starter kit

I’ve been spending a lot of time today surfing the net. If you’ve been following our previous posts here, you’ll know that we are currently starting to think of buying our own home soon. And of course, as with most important undertakings, there are stages or milestones we have to go through. I strongly believe in being informed and considering all angles before taking the plunge so we’re currently in phase 1 of this home buying thing – that is, research.

I’ve found quite a number of resources online and just thought I’d share them here for the readers who may also benefit from this information (and also to serve as my notes!)

  • Realestate.com.au is a searchable site of national property listings. Users could enter different search criteria to limit their state to a particular state, suburb, price range and property type. Neat.
  • Domain.com.au is also another site that features property listings. The organisation of the listings here are not as numerous nor as well organised as Realestate.com but it’s still worth a visit.
  • fhogOnline is a government maintained site that provides information regarding the First Home Buyers(FHB) grant.
  • State Revenue Office Victoria is where you’d learn about land taxes, first home buyer grant and first home buyer bonus for the state of Victoria. I was surprised to learn that the state of Victoria offers a FHB bonus of $5000 in addition to the usual $7000 FHB grant bringing the total amount of government grant to $12,000. That would surely help the FHB pay for the $13,000+ stamp duties for a $300,000 property! Sadly for us though, the $5000 FHB bonus would only last till June 30 this year. There’s just no way we would be able to buy our home by that time! Well, here’s to hoping that they extend the offer for another year, or better yet, abolish the fee for the stamp duties! I know, I know, keep on dreaming…
  • The Land Channel provides a wealth of information and services about land and property in Victoria. I specially like the Preparing to Buy section listing the steps to finding the right property, information about the property market and the facility to locate the schools, libraries, health services, etc. within a particular area.
  • Consumer Affairs Victoria offers a downloadable guide called Real Estate – a Guide for Buyers & Sellers to guide the home buyer through the steps of home buying/selling. There are also some informative articles within the site to inform you of your rights and duties as a buyer/seller and a facility to lodge an enquiry or complaint when something goes wrong.
  • And finally, if you’re still not convinced that it is worth your while to purchase your own property than pay rent, you could try this Rent vs Buy calculator from YourMortgage.com.au. There’s an item in the calculator called Cost of buying and borrowing, I used this calculator from eChoice and this article from AICNSW in trying to estimate those “hidden costs” in getting your mortgage and buying your home.
Published in: on March 25, 2005 at 11:34 pm  Comments (1)  

One CommentLeave a comment

  1. […] As with most everything else, any research you do will pay off in the end. We’ve read several books, browsed through numerous websites, watched videos and talked to some very helpful people. Aside from the list I’ve posted before, here are a few other references we found useful: […]

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: