How do I chose the right first home?

Sounds like a simple question, but for those who've ever had to ask it, they'll know is one of the most difficult questions they'll ever have to contend with.

More often than not, finance brokers are simply seen as the expert who will assist with finance.

But the really good ones, like Local Mortgage Services, are much more.

A good broker should be helping their first home buyer clients answer this question. Because our job isn't just to get you a loan, it's to get you the right loan. Not just for now, but for your future.

At Local Mortgage Services, we want to know all about your hopes and dreams. Everyone has them, but how is that related to my mortgage you might say.

You see, a first home is the first stone laid in the foundation of your financial future.

It's extremely rare that anyone will be in a position to buy their dream home or castle with their first real estate purchase. Gone are the days where you'd buy your first home, and raise 5 kids and a couple of dogs before being shipped off to the nursing home at age 75.

This is where a good Mortgage broker does their best work.

With the retirement age shifting closer and closer to the 100 mark, the future for the current first home buying generation will require a lot more hard yakka than any of the generations past.

So it's important that your broker understands what your grand plan is.

If your dream palace is 7 bedrooms, 3 bathrooms and river views with your yacht tied up to your owner personal jetty out the back yard, then borrowing every cent you possibly can to get that penthouse close to the city as your first home, isn't likely to get you there – for most of us at least.

Just like anything, your dream castle will be a measure of your success. And success never comes without hard work and sacrifice.

Smart first home owners, and smart finance brokers (did I mention Local Mortgage Specialists yet?) will know this.

If you borrow the maximum you can, your ability to pay down the loan as quick as possible is limited to your boss' generosity come your annual salary review.

Remembering your first home will always likely be a stepping stone to something greater – like your first job. Buying a house that's affordable, that you can pay off quicker, and that has eventual rental appeal, gives you the best path to not only your dream castle, but financial independence.

So that might mean a first home that's smaller, out in the suburbs and one that will appreciate more as the city and area grows.

You make your first home purchase right, with sound financial help and advice, will go along way to getting you into your dream castle sooner, being debt free, and not having to work until your 102!

Give us a buzz today and we'll help you get onto the path of financial success and towards your dream castle.