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Are You a First Home Buyer on the Sunshine Coast?

The Sunshine Coast, with its pristine beaches and vibrant communities, has become a sought-after destination for many looking to settle down. For a first home buyer, the journey of purchasing a property here can be both exhilarating and daunting. Want to learn more about buying your first home on the Sunshine Coast? We’re here to help!
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Understanding the Sunshine Coast Property Market

The Sunshine Coast, with its stunning beaches, lush natural beauty, and vibrant local culture, has long been a dream destination for many. For those taking their first step onto the property ladder, the prospect of becoming a “first home buyer” on the Sunshine Coast is an exciting and life-changing endeavour. Thinking of calling this picturesque region your home?

If you are, Sunshine Coast Financial Solutions is here to help you understand everything you need for buying your first home. We’ll help you, as a first time home buyer, gain valuable insights and guidance on how to purchase a first home in the neighbourhood.

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Current Trends in the Property Market

The Sunshine Coast property market has experienced consistent growth over the years. In recent times, it has become a hotspot for both investors and first-time homebuyers. Key trends include a rise in demand for beachfront properties, sustainable housing options, and a surge in development projects catering to a diverse range of preferences.

Factors Affecting Property Prices on the Sunshine Coast

Several factors contribute to property prices in this coastal paradise. The region’s proximity to major cities like Brisbane makes it appealing for commuters and investors alike. Additionally, the area’s growing tourism industry and limited available land contribute to upward price pressures.

Thinking of Buying Your First Home on the Sunshine Coast?

Benefits of Buying a Home on the Sunshine Coast

Lifestyle Advantages

One of the foremost reasons any first time homebuyer is drawn to the Sunshine Coast is its unparalleled lifestyle. Pristine beaches, lush hinterland, and a myriad of recreational activities make it an ideal place to settle down. The Sunshine Coast offers a perfect blend of relaxation and adventure for those eager to call it home with their own property.

Economic Growth and Job Opportunities

Beyond its natural beauty, the Sunshine Coast is also experiencing significant economic growth. This growth translates into job opportunities, particularly in industries like healthcare, education, and tourism. First-time homebuyers can not only invest in a home but also in a promising future.

Community and Local Culture

As Sunshine Coast residents already know, the city prides itself on its close-knit communities and vibrant local culture. Residents often find themselves immersed in a welcoming and inclusive environment. First-time homebuyers cementing their place in the city with their own property, whether they already live on the Sunshine Coast or are moving here, are truly in paradise.

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Challenges for First Home Buyers

High Demand and Competition

While the Sunshine Coast offers numerous advantages, it also presents challenges. High demand for properties, especially among first-time homebuyers, means increased competition. Prospective buyers must be prepared to act swiftly when they find the right home.

Financial Considerations and Budgeting

Navigating the financial aspects of buying a first home can be daunting. Budgeting for a property purchase, including ongoing costs, is essential. First-time homebuyers should be diligent in understanding their financial capacity and seeking expert advice.

Understanding Property Value and Potential for Appreciation

Assessing property value and its potential for appreciation is critical. Researching the market and understanding the nuances of different neighbourhoods can help first-time homebuyers make informed decisions about their investment.

Steps First Home Buyers Have to Take When Buying a Home

Here is a list of the steps a first home buyer should consider taking before purchasing a home on the Sunshine Coast:

First Home Buyers Sunshine Coast Government Assistance Opportunities

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To support and encourage first time homebuyers, a range of grants and incentives are available in this picturesque region. From the Queensland First Home Owners’ Grant to stamp duty concessions and federal programs like HomeBuilder, these opportunities provide financial assistance and benefits to help you take that crucial step onto the property ladder.

In this comprehensive list, we outline the grants and incentives awaiting any first home buyer on the Sunshine Coast, each designed to make your dream of homeownership a reality.

First Home Owners' Grant (FHOG)

Amount: $15,000
Eligibility: Must be an Australian citizen or permanent resident buying or building a new home valued at less than $750,000.

First Home Guarantee (FHBG)

Amount: Allows you to secure your dream home with just a 5% deposit.
Eligibility: Open to individuals and couples across Australia who haven’t owned property in the past decade.

Regional First Home Buyer Guarantee (RFHBG)

Amount: Enables first home buyers in regional areas, including the Sunshine Coast, to purchase with a 5% deposit.
Eligibility: Available to those who have lived in or near the region they’re buying in for the past year and haven’t owned property anywhere in Australia for the past 10 years.

Family Home Guarantee (FHG)

Amount: Single parents and guardians with at least one dependent can purchase a property with just a 2% deposit.
Eligibility: This guarantee supports individuals looking to secure a home anywhere in the country, whether it’s their first home or they’re making a fresh start.

First Home Buyer Stamp Duty Concession

Amount: Concession on stamp duty fees.
Eligibility: First home buyers can enjoy stamp duty relief whether they are eligible for a first home buyers grant or not. Total stamp duty relief is only available on first-time purchases if the value of the purchase is below $500,000. For land, the land must be worth less than $250,000 for full stamp duty relief to apply.

HomeBuilder Grant

Amount: $15,000 grant for eligible contracts signed before March 31, 2023.
Eligibility: Available to first-time homebuyers who meet specific income and contract commencement criteria.

Regional Home Building Boost Grant

Amount: $5,000 grant for eligible contracts signed before March 31, 2023.
Eligibility: Applicable to first-time homebuyers in regional Queensland, including parts of the Sunshine Coast as part of the state government’s COVID-19 relief measures.

First Home Loan Deposit Scheme (FHLDS)

Amount: Allows eligible first home buyers to purchase a home with a deposit as low as 5%, without paying Lenders Mortgage Insurance (LMI).
Eligibility: The scheme encourages first home buyers with just a 5% deposit to take out a mortgage where they can avoid paying lender’s mortgage insurance (LMI) fees. In Queensland, the cap for capital cities and regional centres (including Sunshine Coast) is $475,000, with the rest of the state being limited to $400,000.

First Home Super Saver Scheme (FHSS)

Amount: Access to voluntary superannuation contributions to save for your first home with favourable tax treatment.
Eligibility: You must be 18 years old or older, a first home buyer and have never owned property in Australia. You should also intend to occupy the property you buy as soon as practicable, and for at least 6 months within the first 12 months you own it, after it’s practical to move in.

It’s important to note that grant amounts, eligibility criteria, and application processes can change, so it’s advisable to check with relevant government authorities. You should also talk to a mortgage broker for the most up-to-date information and to ensure you meet all the requirements to access these grants when buying your first home on the Sunshine Coast.

Why Work with a Mortgage Broker as a First Home Buyer

Working with a mortgage broker when purchasing a home can be highly advantageous, as they serve as invaluable guides throughout the complex process. Here’s a list of reasons why enlisting a mortgage broker is beneficial:

Expertise and Market Knowledge

Mortgage brokers possess in-depth knowledge of the local property market and the lending landscape. They can provide insights into interest rates and lending criteria, helping you make informed decisions.

Access to Multiple Lenders

Brokers have access to a wide network of lenders, including banks, credit unions, and non-bank lenders. This variety allows them to find loan products that can match a first home buyer’s unique financial situation and needs.

Customised Solutions

Mortgage brokers tailor loan solutions to your specific circumstances. Whether you’re a first home buyer, buying a home on a guarantor loan, or a seasoned property investor, they can find loans that align with your goals and budget.

Time and Energy Savings

Searching for a suitable loan and navigating the loan application process can be time-consuming and overwhelming. A mortgage broker streamlines the process, saving you time and effort.

Loan Finance Advice

Brokers can assess your financial capacity for your desired loan amount and advise on a number of areas like savings goals and your borrowing power. See a mortgage broker at any time in your savings and home-buying journey for tailored advice to make your purchasing dream a reality sooner.

Negotiation Skills

Brokers can negotiate with lenders on your behalf, potentially securing more favourable loan terms, interest rates, or discounts on fees.

Access to Exclusive Deals

Some brokers have access to exclusive loan products or offers that may not be available directly to consumers.

Steps a Home Buyer Goes Through When Working with an SCF Mortgage Broker

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Working with a Sunshine Coast Financial mortgage broker will help you avoid the more common mistakes first home buyers make when purchasing a home. They offer a streamlined and expert-guided path to securing the right home loan. Their market knowledge, access to multiple lenders, and ability to provide tailored solutions can also significantly benefit any first home buyer navigating the complexities of the Sunshine Coast property market.

Initial Consultation

You meet with the mortgage broker to discuss your financial situation, goals, and preferences.

Financial Assessment

The broker assesses your financial health, including your income, expenses, credit score, and borrowing capacity.

Loan Pre-Approval

The broker helps you obtain pre-approval for a home loan, giving you a clear budget and a stronger position when making offers on properties.

Loan Product Comparison and Negotiation

They provide you with a selection of loan products from various lenders, outlining the features, interest rates, and fees associated with each option. The broker can also negotiate with lenders through their long-term relationships to secure the better terms and conditions for your loan.

Application Submission

Once you select a loan product, the broker assists in completing the loan application and gathers the necessary documentation.

Liaison with Lenders

Throughout the approval process, the broker communicates with the lender, ensuring a smooth and efficient process.

Grants and Incentives

They assist you in applying for any available grants or incentives for first home buyers, such as the Queensland First Home Owners’ Grant (FHOG).

Settlement Assistance

Once you select a loan product, the broker assists in completing the loan application and gathers the necessary documentation.

Ongoing Support

Mortgage brokers continue to provide support even after your loan is settled, helping with any refinancing needs or questions you may have about your home loan.

Sunshine Coast First Home Buyer FAQs

FHOG is a $15,000 grant for first-time buyers. You qualify if you’re an Australian citizen or resident, 18+, and never owned property in Australia. The property value must be below $750,000.

Whether you pay LMI depends on your home purchase deposit amount. If your deposit is less than 20% of the property’s price, lenders often require LMI. However, some initiatives like the First Home Loan Deposit Scheme (FHLDS) can help you buy with a smaller deposit without LMI.

Yes, FHOG can boost your deposit. While it’s not your entire deposit, it can significantly boost your available funds, making it easier to meet deposit requirements.

Beyond the purchase price, budget for costs like stamp duty (transfer duty), legal fees, inspections, loan application fees, and ongoing expenses such as property insurance, council rates, and utilities. These costs vary depending on the property’s value and location.

Mortgage brokers act as intermediaries between you and lenders, helping you find the right home loan.

What our Clients Say

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I’ve recently had the pleasure of working with the team at Sunshine Coast Financial Solutions to secure a new mortgage. Throughout the entire process, communication was clear, professional & friendly. I was kept up to date and was well informed every step of the way. I wholeheartedly recommend Sunshine Coast Financial Solutions to anyone in need of expert mortgage advice & assistance.
This is the 3rd time we have used SCFS, this time for an investment property and refinance overall.Chris advised us to what our best options were taking into account taxable nature of investment and how best we structure between that and our owner occupied.The team at SCFS found us a much better rate overall and have infact reduced our monthly payments.Chris and team (Adam, Darryl, Shanina) keep you updated every step of the way and make the process seamless and easy even when we have had more complicated lending requirements.We have had the pleasure of referring several of our friends to SCFS who have been equally impressed. We are based in NSW, and absolutely no issues being in a different state.If you are after a personal service, and one that continues to proactively manage the best deal for you ongoing this team will look after you.
Very helpful team with excellent communication throughout the whole process. Would definitely use again and highly recommended!
The team was friendly and very easy to deal with. They made the process of getting a loan easy by walking us through every step.
The experience we had with Sunshine Coast Financial Services was incredible. They were professional, knowledgeable and reassuring from the start of our house purchasing journey right to the finish.Apart from all the team, we were lucky enough to have Daryl Hermann assisting us.He was so positive, helpful, encouraging and always happy to answer any questions that I had and there was plenty….Thanks to SCFS we are now the proud owners of a home we could only have dreamt of.Without a shadow of doubt I would highly recommend anyone looking to purchase a home to give these guys a call.I know I certainly will when I choose to purchase another property.
Easy to deal with, happy with the results
Very supportive, available, thorough and professional- highly recommend.
My partner and I were super keen to get into the property market and reached out to Chris and his team as a result from reading these outstanding reviews and they did not disappoint. The team have been nothing but transparent throughout every process of building our first home and answered all our questions in record time. Thank you for your continuous support! Anyone needing assistance needs to look no further then SCFS! If I could put 10 stars I would.
Just wanted to thank Chris Wilson and Tracey Butler for looking after me again with my home loan. My fixed rate is expiring soon. Weeks ago Chris contacted me to discuss my options, the process and a plan of attack.Tracey diligently stepped in right on cue and executed the plan with a superb outcome. A better than expected interest rate, not just for now but for the future of my home loan. I couldn't be happier.This team makes you feel like they step into their customers shoes as if it was their own home loan. They strive to do everything they can for their customers and in such a friendly and professional manner. Thank you again Chris and Tracey.
Efficient, helpful and honest advise. Highly recommend
What a treat it was to work with Chris and his team, they are extremely professional and we're able to find me a much better deal on my home loan. I'm now saving thousands each year! I couldn't recommend him highly enough 👍
Sunshine Coast Financial Solutions worked magic for this first home buyer. The home-buying process is very daunting for newcomers, when searching for your dream home it's hard to know the usual steps and who to trust. Chris and Adam from SC Financial Solutions provided professionalism and attention to detail each step of the way, helping to relieve stress and bring peace of mind knowing we were in safe hands throughout this life changing decision. I'll recommend SC Financial Solutions to everyone searching for an award-winning knowledgeable, reliable and responsive brokerage team.
This new homeowner is thrilled to leave a review for Chris and his colleague Adam at Sunshine Coast Financial Solutions. These mortgage wizards worked their magic on a loan for me, comparing all leading banks of Australia, with a great result. Their efficiency and advice meant I could make a fast and easy settlement. Chris and his team have made our first home buying experience so much easier.If you need a mortgage, I couldn’t recommend enough🌞🏡 Sunshine Coast Financial Solutions 🌞🏡
Excellent service, fast and efficient. I have been using the SCFS team for years and recommend them to anyone for finance solutions. You lean back and relax while they do the hard work and find you the best deal. Very happy 😊
Today is approval day something I did not think I would be doing in this day and age with how life has been but thanks to the team at SCFS it's all been made possible and easy couldn't recommend a greater team, will definitely be using them for my next few houses
I've been using Sunshine Coast Finance for a number of years over which time they have taken care of the finance for 3 properties, I can't recommend them enough.
On behalf of my wife and I, We highly recommend Chris and his team for your financial needs. They made our process feel smooth and enjoyable, and we will definitely be returning in the future for their services.
My husband and I have worked with Daryl for a while now and the experience has been nothing but beyond exceptional. The work he puts in to help us is incredible. We would be lost without his expertise and guidance. We couldn’t recommend Sunshine Coast Financial Solutions more highly.
It was the first time for me to buy a house. I really had no idea how complicated it is. The Sunshine Coast Financial Solutions team support was amazing; they took care of everything and negotiated a very convenient interest rate. The communication was also fantastic. Great result with a minimum effort. Highly recommended
Absolutely amazing service. From start to finish the communication was 100%. We were kept up to date throughout the entire process and always felt supported. Daryl was so easy to talk to, responded to every question we had and I cannot thank him enough, we really appreciate all that he did for us. I will not hesitate using their service again in the future and have passed on their details to friends! Thankyou again for everything!
Excellent professional and friendly service, excellent communication, kept us informed throughout process. Highly recommend
The team at scfs are awesome. Thank you so much for making my home refinance a breeze. I've been asked by few people now, how I got this so quickly. I said "my broker is the gun". Thank you so much Chris, Shanina, Adam, Daryl and Tracey, for all your hard work, and dealing with me. Definitely 5 stars👍
I highly recommend Chris and his team @ SCF Solutions to anyone going through a divorce or any other life transition that involves financial decisions.Chris’s expertise, practical approach, and easy-going nature provided the clarity I needed to make informed decisions about my financial future. Chris’s open and honest manner empowered me with a strong understanding of my financial position and lending capability which eased the burden associated with the division of the matrimonial home. He treated me like a priority and provided valuable guidance and support every step of the way as I navigated through an emotionally challenging time.Communication during critical times in the process such as loan approval and settlement was outstanding, even when this fell over the Christmas/New Year period. Someone from his team was always available to answer any questions or concerns and provide reassurance when needed.Second time I have engaged Chris over the past 8 years, and I can proudly say I will remain a lifelong customer!If you want the best possible mortgage to suit your specific financial situation then you can’t go past Chris and his team.
Chris and his staff members are always very helpful and informative.
Another brilliant experience with the SCFS team. Excellent from start to finish - thanks so much Chris and the team 👍
Excellent, thank you
My partner and I had Jo and Shanina from SCF help us with our home loan, everything was quick and effortless which is what we wanted. Highly recommend them!We also just had a 1 year review from Tracey and she ensured we were still getting the best rate 🙂
Chris and his team have helped me again to buy a property which was a stress free and quick process. I have complete trust in Chris and would highly recommend his business.
Chris and the team have been very helpful throughout the process keeping me informed every step of the way.SCF saved me lots of money from my current loan and will keep an eye on it from now on.Well done team
Adam and the team made our process super easy and they were very helpful. Would definitely recommend them ☺️
Chris and his team made financing our new home purchase a smooth process that left nothing to chance. With his support we were able to confidently bid on and secure our dream home and he made sure we had the very best deal we could achieve in record time.Chris coached us through each step and was always available to answer our questions and provide guidance when we needed it.Overall his team is professional, friendly, helpful and always approachable.We couldn't have achieved the result we did without his help and we would definitely use his services again.We can thoroughly recommend Sunshine Coats Financial Services and Chris Wilson to anyone looking to arrange their finance. You won't be disappointed!
Chris & the team have been fantastic from start to finish. Patient, professional & supportive throughout the whole property purchasing journey. They have gone above and beyond to help me into a property, I am very happy with my experience from start to finish. I can’t speak highly enough of their transparent and professional approach.
Once again, Chris and the team at SCF have provided us with excellent service. They are professional, efficient and always available to answer questions and concerns. We would highly recommend them.
I recently purchased my home using the SCF Solutions for my financial needs, and I must say that I had a fantastic experience. The person who handled all my transactions on my behalf, Daryl Hermann, was extremely meticulous and efficient. His attention to detail and promptness in completing all the necessary tasks left me truly grateful. I highly recommend SCF Solutions for anyone in need of financial services. Thank you, Daryl, and the entire team at SCF Solutions for your outstanding support!
Chris and his team were absolutely fantastic.Clear and transparent from the start, SCF made the experience of buying our home seamless.Highly recommend SCF for your lending solutions.
So much thanks to Chris and the team at SCFS. We had a very difficult and compressed settlement subject to many finance extensions. The whole way through the journey the whole team were absolutely professional and got us into our new home.I Very highly recommend there services toAll.Your sincerelyCraig Jenkins & Katherine Thompson
Adam and the team at SCF have been fantastic in finalising my re-finance. Adam provided insightful knowledge on lenders that would be more suited to my situation and the best avenues to go forward with. He achieved my expected result within a really short timeframe. No question was too silly. Can’t recommend Adam enough.
The team were amazing to work with. They made the process so easy, kept us updated on the process and gave us multiple options to achieve our goals. Couldn’t recommend them enough!!
Chris and the team make it so easy and hassle free. Cannot recommend them highly enough and wouldn't use anyone else apart from them.
Chris is very professional and always does everything to help us out!
Chris and the team were fantastic in helping us get our mortgage for our first home in Australia. They helped us through the process and were supportive, attentive and helpful throughout the entire process. I would heartily recommend SCF!
Chris was great to deal with, straight to the point and got what we needed done. Explains everything you need to know in detail.Extremely happy with the outcome 👌🏻
I am a repeat client of Chris and his team. In every experience I have had has been 100% positive. Chris and his team do everything possible to make every step through the process explained and run smoothly. I highly recommend anyone looking to finance or refinance to talk to Sunshine Coast Financial Solutions.
the scfs team were fantastic from start to finish in getting my new loan. Nothing was a problem for them. Getting everything sorted very fast. Very fast replies and always keeping you updated.I can't recommend daryl and the team enoughThanks again
Chris, Shanina and the rest of the team were so super helpful, understanding and really got the best rate for me! Not only that their communications were so clear, consistent and they were always available for help and advice! Would highly recommend to anyone!! Thank you team!!
SCFS have assisted us with brokerage a few of times now and Chris, Matt, Shanina and the team have been fantastic every time!