Finance & Budget Management
Talk to an Finance Expert
Not sure of where you stand and would like some advice before going any further?
Our friendly team are happy to assist you along the way along with some valuable information we have compiled below to make the process a little easier.
Finance Q & A
Its actually more beneficial to use a experienced recommended broker. A broker will have more variety to offer and you pay no more to use a broker. In fact a broker does not get paid unless your loan is successful. Enquire Here to speak with a recommended broker.
The amount you can borrow, commonly known as your borrowing capacity or borrowing power will be determined based on your unique set of financial circumstances. Your income, assets, liabilities and credit history can all affect your borrowing power. How much money you can borrow will also differ from lender to lender.
Our brokers can help you find which of the hundreds of home loans offered by our panel of lenders will best suit your needs. Our home loan calculator will give you an initial idea of how much you can borrow. A broker can give you a complete individual assessment of your situation.
The deposit required depends largely on the type of home loan and, of course, the lender you select. As little as 2% with keystart but most lenders require 5-10% of the purchase price as a deposit. If you are an investor, you’ll ideally require 10% of the purchase price, although it’s possible to purchase with less. Things like rent can be taken into account to reduce the deposit amount. In some cases you can take a personal loan to subsidise the deposit amount.
A First Home Owner Grant (FHOG) of $10,000 is currently available for first home buyers purchasing new homes in Western Australia up to the value of $750,000 To be eligible, first time buyers have to live in their new home for at least 6 months within the first year of purchasing the property. See if you are eligible
You are eligible if you are an Australian citizen or permanent resident, building your first home or buying a brand new property in Australia, with the intention of occupying it as your principle place of residence within 12 months of the settlement and living in it for at least 6 months.
Stamp duty is a state government tax based on a property’s selling price. In WA there is exemptions to first home buyers. Stamp duty can be a significant additional cost when buying property.
Use our stamp duty calculator to get an idea of what you will need to pay.
These begin with just repayments on the land and then stagger up according to the building progress at stages. With Keystart these repayments are capped at $50 week to make it easier.
DISCLAIMER
Disclaimer: *The advertised price is general information only, and may be subject to change without prior notice and based on land availability. Images are for illustrative purposes. Non-first home buyers may be subject to different circumstances. The total package price is reduced by the $10,000 First Home Owner’s Grant (eligibility criteria applies). The advertised package price may have been reduced by a developer rebate if applicable, provided this reduces the actual package price.
Home Spec WA Pty Ltd trading as Build Wholesale is not the owner of the land. The land featured in this package is advertised by agreement between Home Spec WA Pty Ltd and the land developer and/or vendor. The land is not purchased from Home Spec WA Pty Ltd but from the land developer or an authorised agent. Home Spec WA Pty Ltd is not a reseller of land but a new home building consultant. The land price component does not include transfer duty, settlement costs and any other fees or disbursements associated with the settlement of the land. Land and building will form separate contracts. Whilst this offer was relevant at the time of the insertion of this advertisement, Home Spec WA Pty Ltd is unable to guarantee its availability at the time of enquiry, however all attempts will be made to keep information current. Our prices include a provisional sum for site works, which is indicative of the suburb in which the home is being proposed. This will only be fixed after receiving proper contour surveys and engineering details. Landscaping is for illustrative purposes only and does not form part of the contract. The elevation and internal images showcased are for illustrative purposes only.
Where to Home Spec WA Pty Ltd knowledge a set price has been determined for Bushfire Attack Level BALs, coastal requirements, noise attenuation requirements and / or covenants and guidelines, this will be included in the total price. Where it is not to Home Spec WA Pty Ltd knowledge as to whether it applies and/or the quantum, these components are not included and may add to the advertised price.
Any images of the interior of the house shown are for illustration purposes only to provide an indication of the dimensions and layout of rooms. Finishings and fittings shown in the picture are not necessarily included in the price advertised.
Should the above package make note of a weekly amount payable, loan amounts are based on Westpac 3 Year Fixed (Premier Advantage Package) Loan interest rate of 4.09% (Comparison Rate 5.05%) repayable over 30 years. Home Loan based off 95% of House & Land package price, deposit required of 5%, (excludes Fees). Note: Rates are current as at 11th April 2017 and subject to change. Lending criteria applies. ‘Finance provided by Harrisdale Pty Ltd ABN 59 088 462 140 trading as The Loan Company. Australian Credit License number 386355’.