First Home Buyers in Perth
A guide to Perths best cheapest suburbs
Buying a house in Perth… Where to begin? Buying a home is essentially building a nest egg for the future. It can be an overwhelming process. First time borrowers face the inevitable uncertainty over applying for home loans, approval and the anticipation to see if they are eligible. Although buying your first home is incredibly exciting, it can also be very daunting. Making sure you don’t feel financially overstretched is a key factor when searching for the right house. With the right home loan advice, you can ensure you can still afford the weekend avocado toast brunches in addition to paying off your mortgage.
As a young home buyer in Perth, it is understood location is a key factor when looking and purchasing property. Not only for convenience reasons but also, resale value and as a first home buyer this should be a key factor when choosing your first home in Perth.
In fact, research by the Real Estate Institute of WA shows that, seven of the 10 cheapest suburbs are in the eastern corridor (MacDonald, November 2017). Still within 10km from Perth.
In addition to location another factor for first home owners is property size. Wanting a big enough space so there is room to grow and yet not over estimating therefore, spending more money on the overall total house cost. Finding that happy medium is where The Loans Cafe first home buyers advice can be the difference between finding your first dream home or being unsatisfied.
So where to begin? The top 10 cheapest suburbs within 10km of the Perth CBD includes:
- Osborne Park
The average housing cost across these suburbs is $450,000.
For prime location and adequate property size, as a first home buyer these suburbs are the places to start your search. Once you have eliminated what suits your wants and needs and have started to establish what is within your budget… applying for a loan, in addition to the remainder of the home buying process will become a little more trouble free.