Five Fun Things New Homeowners Experience

Congratulations on your new home!

You’ve secured the mortgage and you’ve got the keys. A new phase is about to start and this is a stage that is familiar to anyone who has ever bought a house. You might think the hard work and decision-making are over. But really, you’re not there yet. A new world will open to you – fabric swatches, paint charts and furniture await.

But fret not. Now that you have your very own house, you are absolutely going to love every minute of the “hard work.”

This “new homeowner syndrome” is something to be enjoyed. And with every transition in our lives, something to be enjoyed while it lasts.

Now, let the fun begin. These are 5 things new homeowners know to be true.

1. You just have to talk about home-related topics every chance you get, in every conversation you have. No matter what.

When you meet your friends or they come over to visit (of course, they just have to drop by!), you will find yourself “showing off” your new home. Oh, the pride you feel! That beaming smile you just can’t stop! If they are in your home, you will be surprised that your feet suddenly have a life of their own, dragging them into the living room or heading towards the backyard. Perhaps even inviting them to tour the second floor followed by a stop in the basement.

Along the way, you talk nothing but home-related things – the merits of wood floor over carpet or vice-versa; the happiness in vaulted ceilings and eat-in kitchens. You even do an amateur presentation of fabric swatches and eagerly ask for their opinion on the best look. They of course will nod politely, agreeing to almost everything. And that is your cue to stop talking and make some tea.

2. Your idea of fun on weekends now constitute hanging out at home improvement or home decorating stores

With a new-found passion you never thought possible, you feel a fanaticism to furniture, home decorations, appliances, and even carpentry tools (for that DIY you have in mind).

You never believed before in the joy of browsing the shelves of your local home improvement store or leisurely looking at furniture pieces. Now you even check out lying on the bed and sitting on the couch to get the feel. You are now officially a converted homeowner!

3. What clothes? Your priority changes. Now it’s all about fabric swatches and quality decors.

You will happily swap fashion for interiors. Shopping for clothes or shoes will take second priority and perhaps won’t even come close to your focus on getting your hands on the most beautiful area rug and cushions; or the beddings and comforter that are heaven to touch, and the most luxurious table cloth.

Welcome to the world of excited new homeowners.

4. You develop an obsession for color schemes

Your mind focuses on the perfect shade, complementing hues, and the difference between lemon yellow and amber yellow. This notion becomes of high importance. Weighing the pros and cons of light and dark shades for your home is constant. A sunlight means opportunity to compare beige and a darker caramel color, and afternoon rays are about observing how light reflects on those wall hangings.

5. “Before” and “After” photos take on a whole new meaning. They’re about home makeovers, not much about people’s transformations.

You no longer care about the make-over photos or the toned, trimmed after photos of people who kept their work-out regimen. It’s about homes that look fabulous after a new paint work or a new landscaping project. You get your inspiration from interior design books and home improvement websites.

You might even go tohomes for sale websites like many new homeowners to get ideas from other properties in the market.

Being a new homeowner is an experience to treasure. For one, not everyone has the chance to own a home. So count yourself blessed for having the opportunity to be a homeowner. Second, the newbie stage of having a new home shall pass too. Hence, savor the feeling and enjoy the ride. Lastly, it is always fun to do something for yourself. Whether it is home improvement or experimenting on DIY projects, or other things other than home-related, learning should never be a dull thing.

Meanwhile, if you are a future homeowner, currently searching the market for a home, particularly in the Greater Denver area of Colorado, The Blake Team-Keller Williams Realtyis your best choice for Buyer Specialists to assist you in your search for a new home.

The Blake Team is an award-winning, full service real estate company in Aurora, Colorado that specializes in Buying and Selling. If you are looking for a home in the Greater Denver and Aurora areas, The Blake Team has an extensive database of properties that goes beyond the usual active listings you see in the market. The Blake Team has foreclosures, Short Sale, HUD homes, Pre-listed properties, as well as premiere luxury real estate.

What Government Should Do to Attract Buyer’s Sentiments?

Consumers are searching and active but the housing sentiment indices constructed have been at rock bottom in this quarter for the FY 2014-15.

Consumers are hanging on for clear indications that the market is ready to be entered into. Even though there has been a lot of noise in the markets, none of them have come through to the surface. Here is a list of 5 points which would help to revive the sluggish property market.

1. Realty developers have not ceased to build in the past couple of years. However, if most of these properties are disputed in terms of delivery dates, specifications, prices, sizes, escalation and add on demands, there is no clear mean that the problem shall be resolved for consumers. Taking on the battalion sized legal departments of real estate conglomerates is quite daunting for consumers which is why consumer sentiments are on the lower side too. Quicker implementation of real estate regulator which has under purview city departments which grant approvals to newer developers, consumers and projects shall be steps forward.

2. Consumers today await a drop in interest rates for home loans to drop before they enter the market for a purchase. It was observed in the past that when rates are increased, older consumers have to pay more money keeping in line with floating interest rates. However, special rates and rate cuts are often reserved for new consumers of home loan. Any assurance to consumers that irrespective of when they take home loans, the slashes in rates shall be passed on fairly to them and not just new consumers shall instil confidence in borrowers.

3. Larger numbers of people have multiple houses and even if they lease out their spare properties, they do it with much hesitation as rental laws are biased heavily towards tenants. However, when it comes to defaults landlords have to approach long drawn legal systems. Simpler rental laws shall bring more confidence among landlords and help them unlock unoccupied urban houses.

4. Policies for real estate must be less self-centres. When coffers run low, city administrations increase registration values and property taxes. However, it has been seen that amounts collected increase when rates of taxes are lower and consumers pay taxes voluntarily. Government policies must favour realty consumers for bringing back confidence. The launching of affordable housing policies as well as affordable properties in Gurgaon, Haryana pushed up launches in the segment.

5. Governments must address social housing for ensuring that everyone has house that can be lived in. It would be the perfect test for the concept of smart cities in the country.

Navigating the First Home Buyer’s Journey: Grants and Concessions

Understanding the First Home Owners Grant (FHOG) Scheme
The First Home Owners Grant (FHOG) Scheme is a national initiative, funded by states and territories, designed to assist first-time homebuyers in purchasing or constructing their new residence. The specifics of the grant can vary depending on your location within Australia, but generally, it provides a one-time payment to eligible individuals embarking on homeownership.

Eligibility Criteria for the FHOG Scheme
To qualify for the FHOG, applicants must meet several requirements, including:

Being an Australian citizen or permanent resident
Purchasing or building a new home that has not been previously occupied or sold as a place of residence
Meeting age and residency stipulations
Not having previously owned a home in Australia
Grant Amounts Across Australia
The value of the FHOG differs across states and territories. For instance, as of my knowledge cutoff in 2023, in New South Wales, eligible first home buyers can receive a grant of $10,000 for new homes valued up to $600,000, or for properties where the total build cost does not exceed $750,000. It’s crucial to check the latest information on your state or territory’s government website for current details.

Stamp Duty Concessions for First-Time Homebuyers
Stamp duty, a tax levied on property transactions, can be a significant expense for homebuyers. However, many states and territories offer concessions or exemptions to first-time buyers, which can substantially reduce the cost of acquiring a new home.

Variations in Stamp Duty Concessions
Each state and territory has its own set of rules regarding stamp duty concessions. For example, Queensland offers a concession where no stamp duty is payable on homes up to $500,000, and a sliding scale applies for properties valued between $500,000 and $550,000. It’s important to research the specific concessions available in your area to understand how they can benefit you.

How to Apply for FHOG and Stamp Duty Concessions
The application process for the FHOG and stamp duty concessions typically involves:

Completing the relevant application forms
Providing proof of identity and eligibility
Submitting a ‘Contract of Sale’ or a ‘contract to build’
Ensuring all documentation is submitted within the required timeframe
For detailed information on the application process and to access the necessary forms, visit the revenue office website of your state or territory:

New South Wales
South Australia
Western Australia
Australian Capital Territory
Northern Territory
The Role of a Finance Broker in Your Home Buying Journey

Navigating the complexities of home financing can be daunting for first-time buyers. A finance broker can provide invaluable assistance by:

Explaining the intricacies of the FHOG and stamp duty concessions
Identifying the most suitable lenders and mortgage products for your situation
Assisting with the application process and paperwork
Offering personalized advice and support throughout the home buying journey
By engaging the services of a finance broker, you can save time and reduce the stress associated with purchasing your first home.

Purchasing your first home is a significant life event that comes with its own set of challenges and opportunities. By taking advantage of the First Home Owners Grant Scheme and stamp duty concessions, you can make your dream of homeownership a reality in a more affordable way. Remember to consult with a finance broker to guide you through the process and ensure you make the most of the financial support available to you.