Hi Chelsea,

 

You’re already one step ahead by asking the question!

 

Having the right experts on your team during the home buying process can make all the difference. So, I’ll share what the ultimate home loan line-up looks like and what each player brings to the table.

 

‍🧔‍ Player 1 – mortgage broker

 

As soon as you’re thinking about buying a property? We suggest teaming up with a mortgage broker.

 

A mortgage broker can help you get a true understanding of what’s possible for your current situation, what a realistic price range looks like and what move to make next. Plus, they can compare 1000s of loans and help you get pre-approval sorted once you’re ready to go – usually at no cost to you (and definitely at no cost to you when you work with Finspo).

 

👩‍🦱 Player 2 – conveyancer

 

Once your home loan journey is underway, the next person you need on your team is a conveyancer. Securing one as soon as you have your pre-approval is ideal. That way, you'll have one less thing to worry about when it's time to make an offer. They typically cost anywhere between $500-$3,000.

 

👩 Player 3 – financial planner

 

Next, you might want to team up with a financial planner (but totally optional). They can provide you with some guidance when it comes to budgeting, market trends, assist with popular super schemes (like the first home super saver scheme or setting up purchase funds through a SMSF) and help set you up for future financial success.

 

The cost for a basic financial plan is usually between $1,000-$3,000.

 

🧑‍🦱 Player 4 – accountant

 

An accountant is also a handy expert to have on your team. They’re particularly helpful for investors and self-employed homeowners, and can provide things like tax advice, depreciation schedules, business valuations and more. Plus, they can also help you understand if buying property through your SMSF is a viable option. Accountants typically charge anywhere between $75/hour to over $400/hour.

 

🧑 Player 5 – real estate agent

 

Connecting with a few real estate agents in the area you’re looking to buy in can also be a good idea – they can contact you when a property that matches your requirements pops up. There’s no cost involved, and you may even get access to off-market properties. Worth a shot!

 

👱‍♀️ Player 6 – buyer's advocate

 

A buyer’s advocate is another expert potentially worth adding to your lineup. They do come at a cost, but they can save you a lot of time and stress and are often worth their weight in gold. They can cost anywhere between $5,000 – $20,000 (generally 2% of your purchase price).

 

👨 Player 7 – building and pest inspector

 

When a property ticks all your boxes, you’ll need to engage a building and pest inspector to inspect the property before you make an offer.

 

A building and pest inspector is *technically* not a requirement, but their trained eye will make sure the property's condition is up to scratch. Think leaks, rot, cover-up works, termites, mould, etc. They can cost anywhere between $200-$1,200.

 

So, there you have it, your ultimate home loan team sorted:

 

🧔 Mortgage broker

👩‍🦱 Conveyancer

👩 Financial planner

🧑‍🦱 Accountant

🧑 Real estate agent

👱‍♀️ Buyer’s advocate

👨 Building and pest inspector

 

While not every player is essential, each brings a unique set of skills and benefits that can help make your home loan journey as smooth as possible.

 

We can connect you with other experts if you need. And I’m happy to chat if you would like to get things moving.

 

Cheers,

Zach

 

Zachary Smith
Finspo Home Loan Expert