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Many people arrive in
Perth thinking that they won't be able to get a mortgage until they've
been working for 6 months - that's not true. There are lots of different
Home Loans available and, depending upon how much of a deposit you've
got, it is possible to get a mortgage within a couple of weeks of
stepping off the plane.
Currently, Perth house prices are showing
no signs of slowing down, particularly in the beach-side suburbs. Let's
consider the financial argument: A typical rental for a 4x2 in an OK
suburb is about $250 per week. In 6 months that'll have cost you $6,500.
In that time house prices may have risen 5% - $17,500 for a $350,000
property. So to get the house you'll have spent $6,500 + $17,500 =
$24,000. Now if you'd bought the house straight away, it would be worth
$17,500 more 6 months later. So the total difference between renting for
6 months and buying straight away is $6,500 + $17,500 + $17,500 =
$41,500.
Have a look at our
buying a property page to
get a better idea of how the buying process works in Perth. Before
considering buying, it is vital to get advice from a Mortgage Advisor.
They'll be able to tell you what mortgages you'll qualify for as well as
advising you as to what the buying fees will be and the monthly
repayments. Also remember, as a holder of a Permanent Residency Visa,
you'll get the $7,000 first time homebuyers grant (if you've never
bought a property here before).
You don't need to wait
until you get here to contact a Mortgage Advisor - you can
contact our Advisor and he'll be happy to help you with any queries.
Just like so many other things, being prepared can make such a difference to the stress levels when you arrive.
We also have a
downloadable pdf that outlines the
Home Loan Application
Process in more detail. |
