First Home Buyers

As a first home buyer, there are a lot of unknowns that can seem confusing or downright scary. There are so many questions to ask and sometimes not a whole lot of answers, which is why Florian has put together this convenient information guide to help you in your home buying journey. 

Find out why purchasing at Florian as a first home buyer is such a great step up on the property ladder.   

First Home Owner’s Grant

You may have heard that the Victoria State Government is helping first home buyers with a First Home Owner’s Grant (FHOG). This is great news, but it gets even better when you build a new home at Florian. Because for a new home built in regional Victoria, valued up to $750,000, you will receive double the $10,000 First Home Owner’s Grant. That’s right, you receive $20,000 towards your first home, free!     

This applies to all contracts signed before 30 June 2020, so it will not last. Visit the State Revenue Office website to learn more about the FHOG, plus how you could save on stamp duty. 

Tips for buying your first home

Being well-prepared for the purchase of your first home will make you much more confident when it comes time to sign on the dotted line. So, we’ve come up with our top Do’s and Don’ts for first home buyers.

  • Do - make sure you qualify for a home loan. Contact several lenders to get an idea of how much you can borrow. 
  • Don’t - underestimate the additional costs. When purchasing a home, there are other costs associated with that purchase, such as inspection reports, Lenders Mortgage Insurance etc. 
  • Do – think long term. Is this the property you want to potentially spend the next 20 years in? 
  • Don’t – over-extend yourself. Find out what you can afford and stick to it.
  • Do – think about affordability first. Don’t let potential house price growth dictate your buying decisions.
  • Don’t – dwell on a purchase too long. If you’ve fallen in love with a property, chances are someone else has too.
  • Do – get expert advice. There are professionals who can help you every step of the way. 

The build/buy journey

Did you know that the average first home buyer journey for a new build, from initial search to purchase, lasts just four months? That’s incredible when you think about it. The market for established homes is fiercely competitive. Some young buyers could spend at least a year of searching before purchasing an established home, and some will drop out of the race entirely. 

The settlement for a new build is obviously much longer than that of an established home. But when you consider the potential time spent searching as well as the frustration and anxiety of competing with other buyers for established properties, a new build is well worth the wait. 

Florian makes it easy

We’ve made it easy for first home buyers. When you purchase at Florian, you also receive:

  • Private Concierge Service - Florian is Ballarat’s only estate with a 24/7 Private Concierge Service (PCS). Get exclusive access, with information about local facilities, amenities and more to help make your move easier. 
  • Breeze in and Move in Package - To take the stress out of moving, our Breeze in and Move in Package will also cover the cost of your move and first week’s groceries. That’s a value of up to $1,800^ free!

If you’d like to know more about Bonshaw, download our free suburb guide.

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