Well-Being Australia chairman Mark Tronson, a Baptist minister, says that when purchasing property there are issues that require answers. So when anyone of us seeks to purchase property these are some of the major things to consider.
In recent years his three eldest adult children have purchased properties and have worked through all these steps. More recently, one has sold a unit and purchased a family home.
Analyse Income
One needs to carefully analyse Income. The capacity to repay a home loan, which will probably depend on the sustainability of their employment is a serious consideration. Carefully constructing a realistic budget becomes important.
Type of Home
With the numbers crunched, the type of home to suit their needs is next: in our Australian society, they will usually have a choice of a town house, a home unit or a traditional suburban home-and-yard. They will also have to decide if they want a new home, or attend auctions for older places. Alternatively, they may want to buy cheaply and renovate; or they may want to even buy land and build something new.
Determine the area
These decisions will, in turn, determine the area in which they purchase. They will need to decide if they want to live close to their work place(s), close to family, in an area with a yard, close to transport, or just find something they can afford - no matter where it is situated, if transport time and costs are not an issue (for example, if they can partly work from home).
Financial and Legal
Then the financial and legal aspects need to be considered carefully. The young person (or couple) may need to educate themselves very quickly about procedures they never knew existed! They will probably require a large loan, so they need to seek advice from reliable 'third parties' about the veracity of various lending institutions, and they need to compare interest rates, variants, extra charges, fees associated with the loan etc before carefully choosing which ones to approach.
Search out Financial help
They should also make themselves aware of any financial help available (such as first home-owners' grant, employer-sponsored special rates, family support etc) so they can choose the best 'package' for themselves – always assuming that their original budget was calculated in a realistic way, and that the institution they choose will be willing to lend them the money under the terms they want!!!!!
Check out the true value
Now they have chosen the property (or type of property) and secured the finance, they need to check the real estate to ensure it is valued correctly, has the correct titles and other paperwork in order, and that the agent has supplied a legally correct contract. To ensure all this, they will need to ensure their Real Estate Agent is known to be experienced, and they will also need to seek legal advice.
Moving In
Finally, after various hassles and many weekends spent either looking at property or mulling over financial and legal matters, (and maybe the added excitement and disappointments involved in building), pest and building checks, the purchaser can move into their very own (first) home.
Hidden Costs
It is at this point that we hope they have made a contingency plan for hidden costs, such as furnishings, legal fees, body corporate and/or council fees, connection fees for the utilities, costs of starting a new garden or lawn, and so on ....for the rest of their lives!
Parallels with considering following Christ
It is at this point M V Tronson draws a parallel in following Christ, in that he's sometimes found himself politely listening to someone espousing 'being a Christian' as having attended a confirmation class (or similar) without any regard to personal repentance or faith in Jesus Christ sacrificial death on the cross for personal sin.
He gets disturbed that no mention is made of a Christian's need for paying the costs of being a disciple; costs such as repentance, the forgiveness of sin, and the ongoing daily engagement required in maintaining a personal relationship with the Lord Jesus Christ.
To become a disciple of Jesus, M V Tronson says, obviously involves a range of personal commitments. These are not unlike buying a home, when one has to carefully consider the steps he or she is about to take.