To avoid disappointment and frustration, take the time to research and plan your intended purchase. Save This obvious step is often underestimated by many home buyers. Find a lender Choosing a lender can be a fairly arduous task. With hundreds of lenders operating in Australia you will need to invest a reasonable amount of time in researching the different home loans available and deciding which loan best suits your needs. Budget Make sure you can afford the home of your dreams - repayments are not the only financial burden you need to budget for. Apart from saving a deposit and calculating your income and expenditure, you also need to plan for the costs of: application/establishment fees charged by the lender; insurance; government charges - mortgage and property stamp duties, registration and land transfers; legal/conveyancing costs; inspection costs; and any maintenance or renovations to the property.
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