What should you teach your children who are thinking of buying?

Be realistic. Grand ambitions are great, but when it comes to your first house, most young people are looking far beyond what they can and should borrow to purchase.

Teach them to budget realistically. Include all monthly expenses, not just bills but entertainment costs, and also future rates, insurance and maintenance costs.

Talk to a mortgage broker. A good mortgage broker like those at Mortgage & Finance Solutions won’t just arrange pre-approval for you, they’ll also help you avoid financial pitfalls.

There are no dumb questions. Make sure you ask everything. Is the dishwasher staying or going with the seller? Are the light fittings? Unless specifically written into a contract, some fixtures and fittings might end up missing come settlement time. Don’t be afraid to ask questions you may think sound dumb.

But most importantly, tell them to speak to the experts. The Property Consultants at SLP have years of experience and all the knowledge to help you guide your child through their first home buying experience. Our Results will move you.