Advice for firsthomebuyers
 

Hello basically i need some advice,ideas on what to do or what to know when u only know a little about property..

So either tips for living/ investment, what things do i need to know, and also which mortgage company and shared ur interest rate too..

cheers people

Hopefully this thread will help others too :)

buy the worse house in the best suburb!

remember the 3 L's - Location Location Location

in 20 years any house will be fucked but a good block of land is a good block of land - thats the true value.

Or just buy my house its for sale at the momment doesnt need any work at all. all ready to go.

[url]http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=103933182&f=20&p=10&t=res&ty=&fmt=&header=&c=97104395&s=wa&tm=1177883145[/url]


we did same thing though bought this house which needed a fair bit of work and now its all done.

[QUOTE=werticusness]buy the worse house in the best suburb!

remember the 3 L's - Location Location Location

in 20 years any house will be fucked but a good block of land is a good block of land - thats the true value.[/QUOTE]

I agree totally - we got hold of a dump in Joondalup, cheap as chips....
Said we would renovate, blah blah blah, we've done nothing apart from turn the house into a home, yet we've quadrupled our coin in 5 years....

Wait to buy until Treasure Eric "jack" Ripper reveals new budget on May 10th. Should be something in it for first homebuyers with regards to stamp duty relief I reckon.

My advice too....wait for the Ripper's budget....since the leak regarding 1st home owners stamp duty relief, they would be silly not follow through with it, it would be political suicide.
What the relief will be is anyones guess.

But if your in the hunt for a home, I have just finished one over in Success, brand new 4 x 2....nothing to do, just move in. (Shameless plug)

Interesting news about the stamp duty relief.

I've actually just found a house here in Bayswater which I had checked out on the weekend by some tradie mates (It requires a fair amount of renovation) and it has come up good.

I am in a position to put in an offer but I am hesitant till the new budget.

Should I wait or by the time all the paper work etc goes through I should be eligable for this 'relief'?

Thanks in advance

Problem is going to be if there is stamp duty relief.. Every first homebuyer and their dog that is ready to buy a house will be out that weekend buying houses and nothing will be left..

As for I bought a cheap house five years ago and now its quadrupled in price... I think you will find 90% of Perth in that situation at the moment....

NO DON'T DO IT as the new policy my not be retrospective ie. it may only effect purchases from XX/XX/2007 onwards.
But if you really want the house, then its your call...someone may snap it up before you as they may not be a 1st home owner.

im also looking at getting in the market shortly, a purchase of an apartment is on the cards soon, also waiting to see what happens with budget, and yeah i agree every first home buyer i think is waiting for that time, could cause some probs.

so all u home buyers, did u sell ur wrx's up? or whatever you owned, and drive a shitter around for a while? im close to owning my my99 outright, unsure wether to sell up to get some cash or just keep it and use what ive got. Theres always on going costs with wrx's, high insurance etc.

im up for any advice anyone can give me too, post it up here!!