No matter what kind of home you’re looking for, there are some key features to consider. There are large townhouses or apartments and small family homes, so looking for what you want in a home is as important as the type of building.

• where will you spend most of your time? Should you aim for a large kitchen, living area or outside entertaining area? Or all three?
• how many bedrooms do you need? Do you have lots of visitors?
• is one bathroom enough or do you need more?
• buy, build or renovate?

These are just some basic questions. Each home has its advantages and disadvantages and no two buyers have the same wants or needs. The best way to evaluate which home is right for you is to consider what you must have and what you can live without.

There are a number of resources you can use to find a home, including:

• newspapers and real estate publications - check the houses for sale sections in daily newspapers or look out for real estate magazines that focus on your preferred area.
• the Internet - visit real estate websites such as www.realestate.com.au or www.domain.com.au.
• word of mouth - ask friends and family.
• real estate agents - talk with real estate agents in the area; when choosing a real estate agent, make sure that they have Real Estate Institute of Australia (REIA) accreditation.
• don’t buy on impulse, consider all the facts carefully. Return and take a more critical look at the property. Visit on different days and times, chat with locals and look beyond the surface.

Closely check the:

• Exterior
• Roofing
• Foundations
• Driveway
• Paths
• Landscaping
• Fences
• Garage / carport
• Windows
• Floors
• Walls
• Appliances
• Lighting fixtures
• Storage areas
• Ventilation
• Sunlight
• Privacy
• Views

If you think you have found the property for you it may be worthwhile to pay for a professional inspection to check potential problem areas.

Variable interest rates, comparison rates, mortgage offset, stamp duty, redraw – what do they all mean? It can be overwhelming. Speak to a Geelong Bank loans specialist who will not only guide you through the process and help select the home loan right for you, they will ensure you have a clear understanding of your obligations.

Once you have signed a contract to purchase your home, it’s time to think about protecting your assets with insurance.

Our Lending Solution includes obligation-free quotes on any home and contents insurance with our insurance partnership with very reputable and experienced mainstream insurance providers.

Achieving the dream of home ownership is one of the most exciting times in your life. However, it also comes with a big challenge – the time it takes to save a substantial deposit that lenders often require (typically 20% of the home’s purchase price). If you do not have a substantial deposit saved, your lender may be prepared to provide you a home loan with a smaller deposit (as little as 5%), by taking out Lenders Mortgage Insurance (LMI).

Lenders Mortgage Insurance (LMI) is an insurance policy that your lender takes out to protect itself against the risk that you (the borrower) default on your loan repayments and your lender is unable to recover the full outstanding loan amount.

Lenders Mortgage Insurance is arranged by your lender and the premium is a one-off cost your lender pays to us (the insurer) upon settlement of your property purchase. This cost is passed on to you (the borrower) by your lender, as a fee.