Hi Guys,
Not sure i'm posting in the right place... just hoping for some advice/guidance.
My partner and I have made the move to Perth from Ireland.
We both work full-time in our jobs for the past year and are currently renting.
We both want to build but neither of us have ever purchased a home before and we find all the information a bit over whelming.... personally im a lover of to do lists so I can set myself goals... but don't find that theres any straight forward guidance anywhere on the net... I'd rather have some background knowledge myself before I go bounding into some bank asking about mortgages!
Basically we spent our savings in the move out here... we have furnished our 3 bedroom rental, bought two cars and set my partner up for work... tools etc so we are literally starting from scratch. We are both excellent savers and now we've finally got to a point where we are settled we need some golas to help us achieve buying a house. I have all kinds of questions but does anyone have any information for dummies.. to give an idea i'd like to know the following;
We've decided we'd like to build, we're flexible with suburbs, we'd like a 4 x 2 with enough room for a pool & alfresco (we wont necessarily have a pool) we can afford repayments on up to 450,000 max (based on our own judgement) ideally we'd like to spend less.
1- How much should be have saved?
2-Do we approach a bank, financial advisor?
3- What are the Upfront costs?
4-Hiddens costs? Ive had a few people make comments such as 'ohhh dont forgot to add $10,000 for insurance' so does this come out of the $450,000 we have budgeted?
5- Start to finish what to do... who to speak to?
6-What can I expect for my money? Am I being unrealistic?
Any advice would be greatly appreciated... we quiet literally know nothing so feel to educate!
Thank-you