SA first-home buyer experience: what it’s like to buy a home for the first time

Date: 2021-17-01 01:05:37

SA first-home buyer experience: what it’s like to buy a home for the first time

The coronavirus pandemic forced Dion Mignone and Jessica Stefano to shelve plans for a European trip last year, but instead they were able to buy their first home.

The couple, who are in their early 20s, saved “as much money as possible” and were able to buy a unit in Marden in December.

“If we did go to Europe, it probably wouldn’t have happened until this year,” Mr Mignone said.

“We had thought about it towards the end of 2019 and then halfway through last year we decided we’re going to start looking for a place.”

He said it had been an experience filled with both excitement and frustration.

“To begin with it was quite exciting going to inspections and seeing the areas we could potentially be living in,” Mr Mignone said.

“It was also very nerve-racking and frustrating when certain offers on contracts didn’t go our way. “After we officially signed the contract, though, it was all smiles.”

Picking a suburb was difficult as Mr Mignone was from the east and Ms Stefano from the west.

In the end, they picked an area that was likely to record long-term value growth.

Mr Mignone said research and help from industry experts made the process much easier.

“My Dad is a builder so we always talk to each other about property,” he said.

“It helps a lot when you have someone there to talk to, even if it’s your mortgage broker.”

“For other first-home buyers, be patient and not rush into anything,” he said.

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