What should I do now that I've bought my first home?

What should I do now that I've bought my first home?

It’s one of the most important steps, but is often missed. There is so much work that goes in to the search for (and purchase of) your first home, that what to do once it’s yours is often overlooked. You’ll also need to look into what grants and offers you’re eligible for, such as the First Home Owners Grant.

This is the perfect opportunity to set up your house, and turn it into a home. It’s the chance to add your personal touches to the space as well as set up a functionality that helps you live an easier life. Here are a few tips to get you on your way.

Don’t Rush

We’ve all done it. Whether it’s just before we’ve moved into a new rental, or before an event, we have all made an impulse purchase that we later regretted. Awkward tables, uncomfortable beds, ugly couches, two of everything - it rarely works out.

When you first move into your new home, make sure you take time with your purchase decisions. If you’re purchasing shelves, bring measurements. Looking for a new couch? Test them out for comfort, then take a colour swatch home. If you are looking to paint the walls, paint a small patch and live with the colour for whole before commiting to the whole wall (or room).Taking your time will help you avoid making decisions you may later come to regret.

Extra Loan Repayments

By making extra payments, you can reduce the principal on your home loan faster. This will allow you to pay off your home relatively quickly and reduce the amount of interest you pay. Making extra payments can also come in handy if further down the line you are required to make a late payment.

These finance tips are good practice for anyone, regardless of whether you are a new home owners. For more ideas on how you can make your dollar go further, head to our website here, or contact us today for a chat.

Posted by First Home Buyers Direct on 06 December 2016 | 2 comments

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