How a first home buyer has opened the door to the property market.
Bethney Schenscher never dreamed she could build a home in her mid-twenties. Against the odds and despite the rising interest rates and skyrocketing living costs that are making first home ownership near impossible for many, she is well on her way and showing others how it can be done.
Bethney spent four years at university obtaining her nursing degree. When she began her studies, she had no idea that her chosen vocation would eventually provide her with valuable financial assistance when she was trying to buy her first home. Now a practicing registered nurse, she finally has a steady income that has helped her purchase a block of land and start the building process with Fairmont Homes.
“I always said I would never rent. I would rather pay off my own mortgage than someone else’s,” explains Beth. “And I’ve been really lucky to be able to stay at home with Mum and Dad and to have a steady income with my nursing degree.”
While that has helped, Bethney also says she couldn’t have done it without the $30-$40K worth of grants available to her as a first home buyer and a care worker.
“Originally, I was looking around to buy an established home but prices were so expensive! Then someone at work mentioned that there was stamp duty relief available if I built, so I contacted a mortgage broker who confirmed that.”
It was while Bethney was looking at display homes and new housing estates that another work colleague mentioned they had bought a house and land package at St. Andrews with the benefit of a care worker’s grant.
Bethney got back in touch with her mortgage broker and confirmed that not only was she eligible for the $15K First Home Owner’s Grant (FHOG) and stamp duty relief if she built, but she was also entitled to a $10K grant via the Care Worker Support Program.
Bethney estimates the combination of the Care Worker Support Program, First Home Owner’s Grant and stamp duty relief have saved her about $30K to $40K and set her on the path to home ownership.
She found a block of land in St Andrews and began the search for the perfect home design to suit her block. She visited various display homes and at Riverlea she saw Fairmont Homes. “I really liked the style of their homes, especially the Kenzi,” says Beth.
It was there she met Fairmont’s housing consultant David Hillman, who helped her to set the ball rolling.
“When Bethney came into the display home, she had her block of land and her bank’s pre-approval in place, so that gave us a good base to start with. We strongly encourage buyers to organise pre-approval and to know exactly what their budget is,” says David.
“I helped Bethney find a design that met her needs and requirements. The beauty of building is that we could modify the design to get exactly what she wanted while staying within her budget.” - David Hillman, Fairmont Homes Housing Consultant
David advises everyone who considers building to know their budget. “The first step is to chat to your broker or bank and find out what your budget is. Once we understand that, it gives us a base to start with and means we can help all customers to stay within their budget.
“We have a vast selection of standard plans and block widths to suit all client lifestyles, as well as the ability to modify and customise to create custom homes that work with the budgets of second home buyers and families too.”
With David’s help Bethney took advantage of Fairmont promotions which gave her 2.7m ceilings as well as kitchen and bathroom upgrades at no extra cost. For Bethney, the experience so far has been positive. “I literally keep having dreams about my new house,” she laughs. Needless to say, she’s excited about the future.
“It’s a two-year process for me. My land won’t be settled until July next year, I’ve paid my floorplan deposit and my selections processes will begin around June next year. That will be challenging, because a lot of display homes are upmarket, so I’ll have to find ideas that are within my budget.”
As a first home buyer Bethney found David’ expertise invaluable. “Being young and not having done this before, I had a lot of silly questions which he was very good at answering. He wasn’t pushy about upgrades and he wasn’t pushing me towards a bigger home design, he worked with my budget.”
To other first home buyers who are looking to build, Bethney says, “contact a mortgage broker, go to display homes, talk to different people like your friends and colleagues. The quicker you get in the better. Your first home is an investment. Whether you keep it or not, it’s an investment in your future.”
If you’re thinking of building a new home, Fairmont Homes’ friendly team are ready to help with an exciting selection of home designs, house and land packages and in-house custom design services. Take the first step to building your dream home and contact us today!
