Absolutely new to property...help!

Discussion in 'What to buy' started by Crushed_Velvet, 12th Jun, 2021.

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  1. Crushed_Velvet

    Crushed_Velvet New Member

    Joined:
    12th Jun, 2021
    Posts:
    1
    Location:
    Melbourne
    Hi everyone,

    I am based in Melbourne and just started house hunting for my first property ever and I am feeling quite overwhelmed and daunted by this.

    I don't have any parents or family that can help me in this journey (financially and/or providing advice) in making informed decisions in looking for and buying property. I have come from a family where we lived in a lot of poverty (I grew up in social housing) so I am feeling so overwhelmed as to what to buy, what not to buy, what I should look for in the contracts, because I don't have anyone to help advise on this really big purchase in my life, etc.

    Is there anyone on here that can put me in contact or provide me contacts on someone I can talk to offer me advice? Eg. any good home loan advisors, real estate agents, what I should look out for in a property, etc that can help me on this journey?

    I would really appreciate if there is someone I can contact that I can just talk to who is knowledgeable in buying property in Melbourne to help guide me on this journey.

    This is also my first post on this forum so thank you so much to anyone who responds to this post, really appreciate it!

    Kind regards,
    Linda
     
  2. ashish1137

    ashish1137 Well-Known Member

    Joined:
    12th Sep, 2015
    Posts:
    931
    Location:
    Sydney
    Hi Linda,

    Best start reading melbourne threads and budget threads on the forum.
    You have to read and learn or pay professionals which may eat a big chink of deposit.

    Regards
    Ashish
     
    hen.sl likes this.
  3. The Y-man

    The Y-man Moderator Staff Member

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    18th Jun, 2015
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    13,443
    Location:
    Melbourne
    We're aiming for a face to face meetup up at the end of the month. Details to be posted soon Networking & Meetups

    The Y-man
     
  4. The Y-man

    The Y-man Moderator Staff Member

    Joined:
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    Location:
    Melbourne
    A good mortgage broker is your first call - they can tell you how much you can borrow. Not much to discuss beyond that for now...

    The Y-man
     
  5. Branden

    Branden Well-Known Member Business Member

    Joined:
    12th Aug, 2018
    Posts:
    627
    Location:
    Blacktown, NSW
    Hi there,
    Welcome to the forum. As previously mentioned, a good start would be to contact a mortgage broker to determine your borrowing capacity. You may also want to read other threads as there is a wealth of knowledge on this forum. Good luck with your search!
     
  6. wombat777

    wombat777 Well-Known Member

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    Location:
    On a Capital and Income Growth Safari
    This! - you will get the most out of going to a meetup. It's really helpful to just casually chat to other investors.

    My investing has gone from strength to strength due to sliding doors moments initially kicked off with reading this forum and going to meetups.
     
  7. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,443
    Location:
    Melbourne

    Speaking of which....

    Melbourne EOFY Meetup Tuesday 29th June [VIC]

    :D

    The Y-man
     
  8. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    Go to meet ups, talk to a broker. The ones on this forum usually know what they're doing, so pick one of them.

    Once you know how much you can borrow you can start your seach. Lots of information here to help you, so start reading.
     
  9. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    @Crushed_Velvet, the first thing you need to do is to define your destination. What outcome are you seeking? What does success look like?

    As the famous lesson from Alice in Wonderland goes:

    “If you don’t know where you’re going, any road will get you there.”​

    So when you post:
    … it is because you haven’t worked out your destination.

    It is like booking flights for your Xmas holidays but you haven’t yet decided where you are going!!!