However, it’s far from impossible.
Realmark founder and managing director John Percudani provided advice to first home buyers to The West Australian.
“Being patient and prepared can go a long way in the current market,” he said.
“Working with a mortgage broker to assess your buying capacity and devising a realistic budget is crucial.
“Also, you must understand your real needs, including essential features and desired locations that align with your lifestyle budget.
“This will help you narrow down property options and provide a clearer path to the right home.”
Mr Percudani also urged buyers to thoroughly research recent property sales, market trends, access to local amenities – such as schools – and potential for medium-term capital growth.
When it comes to making an offer, he advised making it as attractive as possible to the seller.
“In addition to a competitive price, minimising conditions, offering a prompt settlement and providing a solid deposit can demonstrate both commitment and financial stability” Mr Percudani said.
“I’d also recommend working with agents who use transparent selling methods, such as auctions or set date sales, providing a more equitable buying opportunity.
“Seeking professional advice from industry experts is also a must.
“By following these guidelines, first homebuyers in Western Australia can navigate the property market confidently”
The full article can be found in Saturday 8 July’s edition of The West Australian’s Real Estate lift out.
For assistance in determining your borrowing capacity, contact Capita Finance on 08 6233 9200.