A Guide to buying your first home.

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Our handy guide will help you understand your options when it comes to buying your first home.

Why is now the right time to buy?

Buying your first home is a significant moment in your life, but just because it’s a big step, it doesn’t mean it needs to be a stressful one. The thought of purchasing a home can often be the reason people keep delaying the process. Postponing it could be costly as the right time to buy is now due to:

Did you know it can be cheaper to buy than continue renting?

Increasing cost of renting.

Renting a home is no longer a cheaper option to paying off a mortgage. In Perth, rental prices have increased by more than 20% in the past year (2021). As the rental market continues to tighten, tenants are facing fewer options than ever before!

Perth’s rental crisis.

There is no denying it, Perth is currently experiencing a serious rental crisis. The competitive nature of the market has seen some properties receive upwards of 50 applications. With this steep increase in the need for rentals, more people are looking at the plausibility of becoming homeowners rather than renters.

Low interest rates.

Taking advantage of low interest rates is a great way to ensure you can pay off your mortgage in a shorter time span. Locking in your mortgage repayments at a low rate is a key aspect of understanding just how much you can borrow.

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Ready to start your home buying process?
Download our handy guide

Mike Mackenzie explaining his client on how to get a construction home loan in Perth

Find out how much you can borrow

It can be daunting to look at the cost of house and land packages, you may feel like you could never get a loan approved for that amount of money. Many factors come into play when securing a home loan, including

The easiest way for you to know how much you can borrow and put your mind at ease is with Mikes Help!

Did you know it is cheaper to build than buy established?

Depending on your personal preference you may want to purchase an established house, or start from scratch and purchase a house and land package. The choice you make also has a heavy dependence on the relevant incentives for each option.

Buying established

Blocks in areas with well-established facilities have often already been taken advantage of and have established houses on them. For many, this means if you want to be close to the CBD or older suburbs, you will more than likely need to purchase an established property.

Building your first home

Alternatively, if you are wanting to purchase a property you can put your own unique stamp on, then building your very own home may be the best option. The government incentives for this option are also quite handy. The First Home Owner Grant for house and land packages can be up to $10,000.

Did you know? With the current situation in Perth, it can be cheaper to buy than rent!

You might have more options than you first thought when it comes to buying your first home. Download our guide to learn more about the options available to you

A guide to buying your first home cover
Illustration of a Perth woman growing her financial assets through smart finance choices

Increase your borrowing capacity.

When purchasing your first home, the amount you can borrow is an important consideration. This ultimately affects what type of home you can afford and where. A good way to increase your borrowing capacity is to consolidate your current debtsthe first step of their home buying journey.

By increasing your borrowing capacity:

What option is best for you?

Everyone’s situation is unique to them. To find out the best option for you, Mike will work with you to gain a thorough understanding of you, your goals, and your current situation.

Need help with understanding which option is best for you? – download our handy guide

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What Drives Mike Mackenzie?

Solutions that work.

Long-term outcomes to reduce your financial stress.

Family-first approach.

Easing the financial burden for you and your family.

Knowledge to empower.

Educating you to make informed financial decisions.

Giving your time back.

Saving you valuable time negotiating with lenders.

Invested in your success.

Simplifying your finances to help you get ahead.

Financing your future.

Tailored finance for today and tomorrow.