buying your first home

What You Need to Know About Buying Your First Property

By | Conveyancing, General News

Buying your first home can be an exciting yet very overwhelming process. It is important to identify the core steps in order to successfully own your first home. Following these 5 top tips are crucial in preparing for a position in the current property market, and additionally will create an enjoyable experience to start off your real estate journey.


Before jumping into the process too quickly, it’s essential to check whether you actually qualify for a home loan. Assess all your debts and sort out how you will be able to pay it all off, as it’s significant to prioritise your financial goals. You will need to get in contact directly with a broker or banker and provide them with all the necessary information to essentially establish an idea of how much money you can borrow. The home loan marketplace is quite complex and competitive; therefore, you need to shop around and compare as many loans possible. This is to make sure you are obtaining the right rate and features for your particular situation. This top tip will provide you with the most realistic understanding of your budget which may take up to two to three weeks to obtain.


Saving an adequate deposit is tip number 2! We always suggest that the more you can save, the better it is and the more options you will have. An amount of 20% of the purchase price is highly encouraged to have saved, as you will avoid paying unwanted fees including mortgage insurance. This deposit amount will also be beneficial to your loan as it will allow you to potentially borrow more money. Most people save between 5%-10% of the purchase price which nonetheless still gets you into the market to buy, however, it will leave you with those extra fees that may create a negative taste in your mouth. We also advise that there is no rush to save, yet saving as productively and largely as possible will assist you in the long run when purchasing your first home.

There are also a number of ways you may be able to help fund your first home purchase. The following options include:

  • First Home Owner Grant– Most state governments in Australia offer a First Home Owners a grant that contributes to the purchase amount of your first home. This is based on an eligibility scheme which can be determined by contacting your local state revenue office. We recommend you apply within plenty of time for this grant prior to purchasing your first home, so everything can go smooth sailing once you’ve found the right home.
  • Stamp Duty Concessions– Certain states and territory’s offer additional incentives to first home buyers, some of which involve stamp duty concessions of either a full or partial exemption on the transfer duty. It’s often valuable investigating what’s on offer in the particular area where you are wanting to buy.
  • First Home Super Saver SchemeEligible first home buyers can withdraw voluntary super contributions made since July 2017 to put towards a home deposit. Under this scheme, first home buyers who make voluntary contributions into their super can withdraw these amounts, up to certain limits, in addition to associated earnings from their super fund to help with a deposit on their first home. 
  • Become a book worm… and RESEARCH! Either by looking on the computer or reading the local newspaper, conducting your own research is another vital step in order to identify exactly what the current property market is like, and what sort of price you need to pay for the type of property you are after. Researching different locations and areas, style of homes and recent sales in an area are all necessary tools in determining the value of current properties and what you may potentially need to spend for your first home.


Allowing a lawyer or conveyancing professional to look at and guide you through a contract is highly recommended and is a top tip for anyone buying a home! This is due to the fact that they will be able to assess the provisions within the contract in effort to avoid any hidden clauses or terms that you may not be able to agree with. We encourage this before signing any contract of sale with an agent, to ultimately save you from forfeiting payments that cannot be refunded if you have to rescind a contract.


If you’ve fallen in love with a particular property, just know that other buyers probably have too! So, when it comes to putting in an offer on a house, you need to think logically and be realistic. Understand that your first offer price may not be the last, however, knowing and sticking within your budget is key!

Kochie’s Rescue My Website Competition

By | Conveyancing


We have recently been nominated for Kochie’s Business Builders competition in the category of Local Legend.

Someone believes we are deserving of a digital renovation and we think it would be nice to receive a helping hand in an area, in which we have limited expertise. Not to mention the lack of time we a have available to devote to building a fabulous website.

This competition has a mission to transform the way Aussie businesses do business online. We agree small businesses are the engine of the economy and we want to support their development.

You can help our chances by liking this post. Thank you …


By | Conveyancing

Conveyancing@ERINA has recently joined the Settlement Room a new initiative of SAI Global Property Division.

Settlement Room enables all participants in a transaction to book the date, time and location of each settlement transaction online, providing all parties with real time visibility of the status of a booking.

It also allows conveyancers to respond quickly and easily on the morning of settlement and to arrange cheque directions, get cheques sorted and confirm that settlement can go ahead.

Whilst this new concept is in the early stages of development, we plan to utilise this facility to provide our conveyancing clients with the latest methods available for an efficient and successful settlement.

Telephone our office today and discuss if your conveyancing matter can be managed through the Settlement Room.


By | Conveyancing

Are you looking at a residential, commercial, off the plan, rural or strata investment?

Selling or Purchasing in ACT NSW QLD TAS or VIC?

Conveyancing@ERINA is a new business initiative designed to streamline the conveyancing process.

Telephone our office today on (02) 4365 6069 and speak with our specialist property personnel.

Conveyancing@ERINA supported by Legal Firm

By | Conveyancing

Felicio Law Firm is a legal firm located on the Central Coast in Erina, New South Wales, Australia.

The firm is headed by owner and solicitor Ceu (aka Sky) Felicio who graduated in 1986. She worked in banking for two years before coming to the Central Coast in 1988 to work in the private sector and set up as a sole practitioner in 1992. Sky seized an opportunity in the market and started a business that provided fixed fee, low-cost conveyancing, namely: Conveyancing@ERINA. This local business initiative has been thriving since its start in 2013 and continues to provide clients with professional services whilst keeping costs to a minimum. For further legal assistance please refer to the list of services available at Felicio Law Firm.

Felicio Law Firm’s Services:

– Business Law

– Court Representation

– Debt Recovery

– Enduring Guardianship

– Estate Matters

– Family Law

– Franchise Agreements

– Leases

– Powers of Attorney

– Wills
Please contact our office on (02) 4365 4249 to arrange an appointment.

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Material on this web site is for information only and does not constitute legal advice.  This site is updated as and when convenient and may not reflect the most recent developments in any particular area.  To the extent permissible by law, Ceu Felicio excludes all liability for anything contained on or accessed via this site and any use you may make of it.