PANO BA: Understanding the real costs of buying your first home in Australia

Tired of renting? Saved up enough for a deposit and thinking it’s time to buy your own place? Mortgage broker Vee Perez shares practical tips on how to take your first steps into the property market and what you need to know when buying a home in Australia.

Mortgage broker Vee Perez shares practical advice on the basics of buying a home in Australia. Image credit: Canva/getty images/vittaya25/christianchan/jerryC/leeloo the first/pexels

Key Points

• For many first-home buyers, saving up for a deposit feels like the biggest hurdle in buying a house. But what often comes as a surprise is that the property’s listed price isn’t the only expense you’ll need to prepare for.
• She also explained several common terms used in the property industry like Lenders Mortgage Insurance (LMI) and Stamp Duty.
• According to Perez, before you even begin looking for a house, you should first get your finances in order.One of the first steps is to find out how much you can actually borrow from the bank.

Mahalagang malaman muna ang iyong borrowing capacity dahil kung magsisimula ka agad sa paghahanap ng property, baka ma-disappoint ka kasi hindi pala iyon ang kaya ng budget at kayang ma-afford.

Vee Perez, Mortgage Broker

📢 Where to Catch SBS Filipino

🔊 On Air – Tune in to SBS Filipino on radio stations across Australia and website live stream, and TV Channel 302 from 10 AM to 11 AM AEST daily.

📲 Catch up episodes and stories – Visit sbs.com.au/filipino or stream on Spotify, Apple Podcasts, Youtube Podcasts, and SBS Audio app.

📣 Follow Us on Social Media – Stay updated by following us on Facebook and Instagram.

The information shared in the podcast is for general guidance only and should not be taken as professional advice. For decisions related to buying a home or obtaining a loan, it is best to consult a licensed mortgage broker, financial adviser, or an expert in the field.