First Home Buyer

At BCM Homes, we strongly believe building your first home should be an exciting experience.

First Home Buyer?

At BCM Homes, we strongly believe building your first home should be an exciting experience. Our experienced team are here to help you feel comfortable, confident and informed throughout the process. We aim to make the process as simple as possible and ensure your new home is tailored to you and your lifestyle.

Work with your finance broker, bank or consultant to confirm your budget and timeframes. We strongly advise you have a good idea of how much you can afford to borrow as a starting point.

Now that you have a good idea of your budget, its time to decide on the perfect home design. Make a list of things you consider must-haves plus a list of extras you’d like if it fits from a cost perspective.

Make sure to include the number of bedrooms and bathrooms you require and whether you’ll need multiple living areas. Think about any future considerations too, will there be additional family members and what space will they require.

Give thought to the added extras that fit within your budget, how they work for you and how they may help make your home more appealing, from a resale perspective in the future.

Most of all consider your lifestyle and make sure your new home reflects your style enhances how you live.

Make a list of desirable areas and narrow down where you’d like to live, remembering to keep your budget in mind. Give some consideration to school, transport, shop and park access – even if you don’t need these conveniences now, you may in the future, plus it will potentially help your home appeal to a wider audience if you sell in the future.

There are also a number of house & land packages available in local new estates. A house & land package will save you looking for the right block to fit your perfect new home, or the right home for your perfect block. House & land packages are designed to complement each other, with the added benefit of a single upfront cost, for the home and land.

The Australian Government introduced the First Home Super Saver Scheme (FHSSS) to reduce pressure on housing affordability in the Federal Budget 2017-2018. Allowing you to voluntarily contribution to your superannuation to save for your first home.

You can apply to have a maximum of $15,000 of your voluntary contributions from any one financial year included in your eligible contributions to be released under the FHSSS, up to a total of $30,000 across all years.

For further details and eligibility information, visit the ATO website 

The Australian Government introduced the First Home Loan Deposit Scheme (FHLDS) to support eligible first home buyers purchase their first home sooner.

Usually first home buyers with less than a 20 per cent deposit need to pay lenders mortgage insurance. Under the Scheme, eligible first home buyers can purchase a modest home with a deposit with as little as 5 per cent (lenders criteria also apply). This is because the National Housing & Finance and Investment Corproration (NHFIC) guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible first home buyer’s home loan.

There are currently 33 participating lenders across Australia offering places under the First Home Loan Deposit Scheme.

All applications for the First Home Loan Deposit Scheme need to be made directly with one of the Scheme’s participating lenders. NHFIC doesn’t accept applications directly from first home buyers.

For further information and participating lenders, click here.