First home buyers seek guidance

TERRY and Shona Norris are hunting for a home in which to raise their children Lochlan, 10, and Kylah, 2.

TERRY and Shona Norris are hunting for a home in which to raise their children Lochlan, 10, and Kylah, 2.

Mr and Mrs Norris own City Country Electrical and work from home.

Over the past few weeks they have been looking at houses across Mackay.

“We have been working towards buying a house for some time but it has been only in the last eight months that we have really put our minds towards it,” Mrs Norris said.

They had been running their business for two years Mr Norris said and getting a loan from a bank had proven difficult.

“Being a business owner there are different criteria to general people applying for a loan.

“It is a lot a harder to get the finances and we are looking for more guidance in purchasing our first home.”

Mrs Norris said the First Home Buyers Grant (FHOG) would help tremendously.

“We are looking at homes at Walkerston, with a big yard for the kiddies and garage space for the business.”

Suncorp Mackay mobile lender Steve Reynolds said queries and applications from first home buyers had been on the rise since the revised FHOG initiatives were announced by the government at the end of last year.

First home buyers now receive $14,000 to purchase an existing property and those wishing to build receive $21,000.

“The grant has really given a boost to those looking to build and there is a lot of interest in the new blocks available in Mirani and Marian, where you can expect to get a house and land from around $380,000,” Mr Reynolds said.

He said there were many things to think about when buying a home. Many customers were unaware of all the steps they had to go through but these would be explained at a free public seminar on March 10.

The seminar will cover issues such as borrowing guidelines, conveyancing, costs associated with buying your first home, who else is involved in the purchase and their role and an overview of the Mackay property market.

It will be held at the Suncorp Mackay branch, 124-129 Victoria Street, from 6.15pm.

To attend call Steve Reynolds on 4969 1555 or email [e-mail].

Originally published as First home buyers seek guidance