• Short term rental accommodation, furnished rentals in port Noarlunga Adelaide, South Australia
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    1. #1

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      Buying a house in Adelaide

      Ok, so my PR was granted last week. I'm already in Adelaide as was on a temp visa and I'm renting in warradale.

      I'm keen to buy somewhere. My Qs are...

      Can I gain a home loan so soon after getting my PR? I'm in casual locum work but aim to get a permanent job at the RAH (where I locum).

      Has anyone used the Home Start SA Gov home loans? I can't help but feel there's a catch here! Would you recommend going to a bank as opposed to using Home Start?

      While I plan on living in the house I buy, I also want an investment. What areas in Adelaide are worth investing in. I like it where I am but would be keen to be slightly closer to the city, and I'm more beach than hills but not opposed to it.

      Basically I'm not sure where to start or if this is even possible for me! I do have savings of course. I'm just not sure how to get started!

      Any info at all would be appreciated.

      Thanks!

      F x

    2. #2

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      I would recommend that you chat to an independent mortgage broker first.
      They know all the rules and the options that will be open to you.
      I don't know much about the present SA Govt Home Start, but when we looked into it several years ago, the qualifying income limits were quite low. This may have changed.

    3. #3

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      Hi cliffy, thank you. Yes I'll need to visit one. Any recommendations for any brokers out there? Were you able to get a home loan as soon as you got your PR? The home start does look like is for low income groups etc but they also specified skilled migrants which made me wonder if it was difficult securing a home loan as a migrant?

    4. #4

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      My granddaughter bought her first home through Homestart because it was easier to get her mortgage that way ,not sure why but she was advised by a mortgage broker and I think it was because of a lower income as she was only working part time and her partner allthough full time was casual
      She has recently after two years with Homestart remortgaged and saved herself $100 a week so it's worth shopping around

    5. #5

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      I can highly recommend Andrew at Vista Financial (he posts on here sometimes). He (or Stacy anyway) helped us to get approval on a mortgage after only being in the country a couple of months.
      Any fool can criticize, condemn, and complain but it takes character and self control to be understanding and forgiving.
      Dale Carnegie 1888-1955, Author and Lecturer

    6. #6

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      This is all very helpful. Thank you guys x

    7. #7

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      Any views on suburbs that are good to invest in that aren't too far from the city. I heard mile end but the airport noise must be crazy so that puts me off!

    8. #8

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      Much will depend on your budget and what you want. Are you after a unit, a small house, crap house on a decent sized plot for sub development, a home for the medium to long term with potential for rental after....

      See what a broker says and how much you could borrow and then narrow down areas.


    9. #9

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      In the subject of buying my son has recently bought and will move in May
      He had his offer accepted by the owner then used the same realtor to sell his place
      it was only when he signed up to sell that the realtor told him he had put a second contract on the house my son was buying !
      Sons sale and purchase etc has all gone through but I had never heard of any estate agent doing this
      Has anyone else !
      My son said he felt he was under pressure as it was as if Well if you don't complete in time tough the house will go to someone else

    10. #10

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      My understanding is you put in an offer and have to prove funds such as finance within a very short time to secure the deal. Also have the survey done within 48hours. Thats how it went for us anyway when we bought our house. After that you are bound into the contract. I guess if you don't do these things within this very short window the agent continues to market the property.

     

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