Skilled Migrant Professionals Spring 2016 | Page 34

Finance

A Place To
Call HOME

Are you ready to be a homeowner?

YOU HAVE BEEN IN AUSTRALIA
now for at least a year, have settled
in, found good employment and
have built up some credit history.
The next step for many migrants
is home ownership. You are
probably excited about taking
this step, but there are still many things to consider before you
actually make the move. After all,
you are making one of the biggest
purchases of your life. Understanding
the home-buying process will help
you make the right decisions. To get
By Peter Taliangis,
to the right decisions, you need to
Licensed Real
start with the right questions. Start
Estate Agent,
“Professionals Ultimate”
your home buying process by asking
yourself the following:
1. Which neighbourhood is the
most suitable for you and your family?
2. Do you want a single family detached home, a town home or a
unit?
3. Do you want a home that’s move-in ready or a fixer-upper?
4. What are your needs versus your wants?
5. How much can you really afford?
Location, location, location. As the saying goes, location is one of the
most important criteria in a new home choice. Things to consider when
choosing a neighbourhood and street are:
1. Safety of the area
2. Diversity
3. Noise
4. Proximity to facilities such as schools and community centres
5. Access to public transportation
6. Distance to your workplace

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www.smpmagazine.com.au | Spring 2016

Home type
You may dream of having a single family detached home with a backyard to call your own, but depending on the Australian city you live
in, a multi-unit home might be all you can afford. For example, many
first-time homebuyers opt for a condo apartment in a mid- or high-rise
building, or a town home/row home, which shares a wall with other
units in the same complex. While multi-unit housing options often carry
with them monthly strata fees and rules to abide by, the plus side is that
there’s a lot less maintenance to handle on your own, compared to a
single family home, and they tend to be less expensive.

Old or new
Another decision you will face is whether to buy a brand new structure
or a resale home that is a few years older. While new homes hold a lot
of appeal to prospective buyers, you will likely get more for your money
if you by an older home. Older ho