Taking the First Step Into Homeownership
Buying your very first home is one of life’s biggest milestones. At Eight Homes, we understand it’s exciting but also a little overwhelming especially in those first 90 days after you’ve picked up the keys. That’s why we’ve created this guide: to help you know exactly what to expect, what to budget for, and how to settle in with confidence.
Our goal is simple: to make homeownership as smooth and stress-free as possible. From clear upfront pricing to our 88 Build Days promise, we’re here to guide you through the journey so you can focus on enjoying your new home.
Financial Preparation: Planning Beyond the Mortgage
Your mortgage isn’t the only cost of owning a home. The first few months often come with new bills and responsibilities, so planning ahead will help you avoid surprises.
Costs Beyond Your Loan
- Council rates and property taxes: These vary by location, but they’re an ongoing part of your budget.
- Home insurance: Usually required by lenders, and always a smart way to protect your biggest investment.
- Maintenance and repairs: Every home needs regular upkeep. Setting aside a little each month makes it manageable.
Smart Budgeting Tips
- Build a realistic budget: Factor in utilities, rates, insurance, and ongoing maintenance.
- Create an emergency fund: Even a small buffer helps with unexpected repairs.
- Review often: Your first few months will give you a clearer picture of your true expenses. Adjust as you go.
At Eight Homes, our Hand on Heart Fixed Price and locked-in site works mean you won’t be hit with surprise build costs, giving you a more accurate budget from the start.
Understanding Your Home Loan
Your loan is more than a monthly repayment: it’s a long-term commitment. Take the time in your first 90 days to fully understand it.
Loan Types for First Home Buyers
- Fixed-rate loans: Predictable payments, great for budgeting.
- Variable-rate loans: More flexible but can fluctuate with the market.
- Government programs: Initiatives like the First Home Guarantee & Home Guarantee Scheme can help eligible buyers enter the market with a lower deposit.
What to Keep in Mind
- Interest rates affect the total cost of your loan.
- Loan terms vary, be clear on repayment conditions and fees.
- Compare products regularly, your needs today may change in a few years.
Our finance partners, Park Finance specialise in helping first home buyers. They’ll do the heavy lifting to find competitive deals while keeping the process simple.
Your First Homeowner Checklist
Moving into your first home can feel like a whirlwind. Having a checklist makes it easier.
Before You Move In
- Set up utilities: Gas, electricity, water, and internet ready for day one.
- Update your address: Banks, bills, and subscriptions all need your new details.
- Activate insurance: Make sure your policy starts before your belongings arrive.
Navigating Your New Responsibilities
Homeownership is more than just making repayments, it’s also about maintaining and protecting your investment.
- Know your mortgage: Understand repayment terms, who to contact for support, and whether you can make extra payments without penalty.
- Plan for maintenance: Allocate a set amount each month toward ongoing upkeep.
- Think long term: As your home ages, you may want to plan for renovations or upgrades to keep it modern and valuable.
At Eight Homes, we back every build with a 25-Year Structural Guarantee. That means you can focus on the small stuff while we’ve got the big stuff covered.
The First 90 Days, Made Simple with Eight Homes
The first 90 days of homeownership can feel like a crash course in budgeting, maintenance, and responsibility. But with the right preparation, and the right builder, you’ll feel confident every step of the way!
At Eight Homes, we make it easier:
- Low deposit options starting from just $888.
- Fixed price contracts for peace of mind.
- 88 Build Days promise so you can move in sooner.
- Trusted finance partners to simplify your loan.
- 25-Year Guarantee protecting your investment for the long run.
Ready to begin your homeownership journey? Let’s make your first 90 days the start of something extraordinary.