Discover our selection of incredible mountain biking destinations conveniently located near Narracan Lakes. Whether you're a seasoned rider or a beginner, these trails offer diverse options to suit every skill level. Bring your family along and enjoy what the region has to offer.
Located just 20 minutes away from Narracan Lakes you’ll find the Maryvale Pines Mountain Bike Park offers an exhilarating experience across 37 trails spanning 25 kilometres. From jumps, drops, and berms to tight turns and camber straights, this park caters to riders of all levels. With beginner, intermediate, and difficult trails available, riders can choose their preferred level of challenge. The generally smooth dirt or gravel tracks provide an enjoyable ride while immersing bikers in the beauty of the pine plantation.
Location: Off Traralgon West Rd, Maryvale
Distance: 25km, 37 trails
Track: Generally smooth dirt or gravel track
Grade: Level 1-4 (beginner intermediate and difficult trails available)
Situated on Haunted Hills Road in Hernes Oak, the Haunted Hills Mountain Bike Park is just a 10 minute drive from Narracan Lakes. Riders can explore a professionally machine-built dirt single track. The park features a pump track made of asphalt, suitable for BMXs, scooters, and skateboards. The trail options range from easy to difficult, accommodating riders of various skill levels. The park is open year-round from 6 am to 9 pm, and entry is free.
Location: Haunted Hills Mountain Bike Park Trail Head, Haunted Hills Road, Hernes Oak, Latrobe Valley
Distance: 13km total trail distance (a further 12km currently under construction)
Track: Professionally machine-built dirt single track; asphalt pump track
Grade: Level 1-4 (easy, intermediate and difficult trails available)
Venturing a bit further away, situated roughly 50 minutes from Narracan Lakes is the Blores Hill Mountain Bike Park. This park is renowned as one of the best and most beautiful mountain biking areas in Victoria. Offering 20 kilometres of trails amidst natural bushland, this park caters to riders of all abilities. The trails, ranging from beginners to experienced riders, wind through stunning landscapes and feature green-black trails, jumps, bridges, rocky outcrops, technical elements, and flowing trails. Horse riders can access specific trails, while walkers are welcome on all trails throughout the park. Blores Hill can be enjoyed year-round, and entry is free.
Location: Heyfield
Distance: 20km total trail distance; 14 tracks
Track: Generally smooth dirt or gravel track
Grade: Easy - Difficult
Start/ finish: Tinamba Road Trail Head Car Park
Note: Please stay on the marked trails. Trails may close due to weather conditions, so please check with Parks Victoria (Heyfield) on (03) 5139 7777 before you go.
For a mountain biking experience above 1500 metres, head to Mt Baw Baw Alpine Resort. The resort offers trails suitable for beginners to experienced thrill-seekers, with the option to book a mountain bike shuttle or uplift service to make the most of your day. The trails, opening late November and closing after Easter Weekend (depending on weather conditions), provide breathtaking views and an unforgettable biking adventure. With various trails like Latrobe Trail, Beech Trail, Summit Trail, Village and McMillan's Trail, and Mueller's Trail, riders can choose their preferred level of difficulty. Bike hire is available but should be purchased in advance.
Location: Mt Baw Baw Alpine Resort
Distance/ Grades:
Latrobe Trail - 0.5km, Level 1
Beech Trail - 0.8km, Level 1
Summit Trail - 2.3km, Level 2
Village and McMillan's Trail - 3.5km, Level 2
Mueller's Trail - 0.5km, Level 3
Track: Rough dirt track
Roughly half an hour from Narracan Lakes sits the Erica Mountain Bike Park. Located in Erica, this mountain bike park offers more than 30 kilometres of trails, guaranteeing an adrenaline-pumping experience. Split into two sets of trails on either side of the highway, riders can choose between the tracks at Erica or Mill Park. The trails on each side, such as the "Axeman," "Steep & Slippery Scream," and "Roots & All" at Erica or the "Crazy Snake," "Bones," and "SSS" at Mill Park, provide exciting challenges and breathtaking views.
Location: Erica
Distance: More than 30km of trail
Track: Rough dirt track
Note: The car parks are not official but are easy to find
Grade: Level 2-3
After an exciting day of mountain biking, it's a comforting feeling to return to the peaceful haven of Narracan Lakes. Take a moment to relax by Lake Narracan, offering a sanctuary to reflect on the day's excitement and recharge for your next adventure.
Whether it's the morning cup that kickstarts your day or a mid-afternoon pick-me-up, there's nothing quite like a good cup of coffee. Narracan Lakes is located near some of the best coffee shops around - even locally roasted beans! If you're in the Newborough or Moe area, you're in luck because we've compiled a list of what we think are some of the best coffee spots in town.
Danbo's Coffee in Newborough. This coffee shop is known for its specialty drinks and cozy atmosphere. The team is passionate about coffee and it shows in every cup they serve. Go for a latte and stay for their delicious Cuban sandwiches! We particularly love their monthly loyalty card draw where the winner has their next 10 coffees for free! Check out their Facebook page for the hilarious way they pick each winner.
Next up is Fat Cat Coffee Roasters, also located in Newborough. This coffee roaster takes pride in sourcing only the highest quality beans from around the world. They then roast them on-site to create unique blends that are sure to satisfy even the most discerning coffee drinker. From the perfectly crafted latte art to the rich and bold espresso, Fat Cat is a must-visit for any coffee lover. If you're looking for a coffee that's both delicious and ethically sourced, Fat Cat Coffee Roasters is the place to go.
Moving over to Moe, we have Tommy Brock Cafe. This cafe is the perfect spot for a lazy Sunday morning brunch or a mid-week coffee break. The interior is bright and airy, and the staff is friendly and welcoming. The coffee is top-notch as well, with a wide range of options to choose from. Whether you prefer a simple black coffee or a decadent latte, Tommy Brock Cafe has got you covered.
Also located in Moe is Turn Back Time Cafe. This cafe has a unique vintage theme that will transport you back in time. From the retro decor to the classic vinyl records playing in the background, Turn Back Time Cafe is a fun and quirky place to grab a cup of coffee. The coffee itself is delicious as well, with a rich and smooth flavor that will keep you coming back for more.
Last but not least, we have Coffee Central in Moe. This cafe is a popular spot for locals, and for good reason. The coffee is consistently great, and the staff always have a smile. Whether you're looking for a quick takeaway coffee or a sit-down brunch with friends, Coffee Central has something for everyone.
You’ve got plenty to choose from when searching for a great cup of coffee, why not try out these five coffee spots. There's something for everyone on this list. So why not try them all and find your new favourite coffee spot.
When it comes to dining, Narracan Lakes and surrounds are sure to have something for you, from casual dining to something a bit more sophisticated, we’ve got you covered. The restaurants listed below are some of the most well-known and popular among our locals, and they are highly recommended for newcomers to the area.
Rookies Pizzeria Bar & Grill
Rookies Pizzeria Bar & Grill, located at 2-4 Ollerton Ave, Newborough VIC 3825, provides a casual dining experience with a diverse menu of woodfired pizzas and classic favourites. Spend a Friday or Saturday night listening to live music with friends or family while eating a hearty meal, or stay a little longer and enjoy the bar. Rookies is open Tuesday through Saturday and is only a 15-minute drive away from Lake Narracan.
Home Taste Chinese Restaurant
Home Taste Chinese Restaurant in Newborough provides all of your favourite traditional Chinese dishes. It is a quick 15-minute drive from Lake Narracan and is located at 43 Monash Rd, Newborough VIC 3825. Home Taste Chinese restaurant serves generous meals for dine-in or takeout. From incredibly tasty meat and seafood dishes, to a range of rice and noodle dishes, Home Taste Chinese restaurant has you covered.
Twenty20 Tapas
Twenty20 Tapas is Moe’s new Tapas Bar, Restaurant and Coffee Window conveniently located in the centre of Moe. This location is open 24 hours, 7 days a week and offers a range of delicious tapas, main meals, cakes, cocktails and more. This location is the middleman of dining which gives you the option to have a casual dining experience, as well as a sophisticated dining experience. It is located at 25A Moore St, Moe VIC 3825 which is only a 15 minute hike from Lake Narracan.
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The Turfside Bar & Grill, located within the Moe Racing Complex, serves a diverse menu at affordable prices. It is only a 15-minute drive from Lake Narracan and is located at Waterloo Rd, Moe VIC 3825. Turfside Bistro provides a relaxed dining experience with great quality meals, a large undercover kids playground, weekly specials, Wednesday parma night, member discounts, and more.
Cafe Qu Bah
Cafe Qu Bah is conveniently located next to the Village 8 Cinema complex at Morwell's
MidValley Shopping Centre. The cafe/restaurant serves a diverse menu of breakfast, lunch, and
dinner items sourced from local suppliers and farmers. Cafe Qu Bah has something for
everyone, from a casual brunch to a more formal dinner. This Morwell hot spot is a local
favourite and is only a 20-minute drive from Lake Narracan.
Silvers Bar and Grill
The Silvers Bar & Grill Morwell has been a well-known Morwell family-owned business for over 25 years. Inside and out, it's been completely renovated, with old-school rustic decor and a fully refurbished beer garden. It is a 20-minute drive from Lake Narracan and is located at 3-5 Hazelwood Rd, Morwell VIC 3840. Silvers Bar and Grill in Morwell offers casual dining with hearty meals like steaks and burgers which we all love from time to time.
Foon Lok Chinese Restaurant
Foon Lok Chinese Restaurant is a family-run business that prepares dishes from scratch and cooks them fresh to order. The restaurant is open from Tuesday to Sunday and serves a variety of Chinese dishes, including a fan favourite, honey chicken, as well as Singapore noodles, sweet and sour pork, and many others. The address is 6 George St, Morwell VIC 3840, and it is a 20-minute drive from Lake Narracan Lake.
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Stellina
Stellina is the home of wood fired pizza and modern Italian-Australian food in a unique setting right in the heart of Traralgon. Located at 17 Peterkin St, Traralgon VIC 3844, it is just a 30 minute drive from Lake Narracan. The venue has an atmospheric feel both inside and out, making it ideal for both summer and winter occasions.
Little Prince
Little Prince Eating House & Bar is a moody and atmospheric restaurant that serves a variety of fun, flavorful tapas and share meals, including vegetarian and vegan options. If you're looking for a Melbourne lookalike night bar scene, this is the place to be. It's also ideal for something more than just a casual dinner. It is located in Traralgon at 58 Hotham Street, about a 25-minute drive from Lake Narracan. Consider Little Prince for your next date night or night out with friends.
Neilsons Kitchen
Neilsons Kitchen serves exquisite and graceful flavours in an elegant and refined setting. Neilsons is well-known as one of the region's true fine dining establishments, and it is dedicated to using only the best and freshest ingredients. This location, located at 13 Seymour St, Traralgon VIC 3844, is ideal for high-quality meals and a more refined dining experience.
Traralgon Thai Restaurant
Traralgon Thai Restaurant serves a variety of traditional Thai dishes that we all enjoy. It is open Monday through Saturday from 5 p.m. to 9 p.m. at 39 Hotham St, Traralgon VIC 3844. Enjoy authentic Thai cuisine and select from a variety of stir fry dishes, curries, noodles, and other options.
Dal Mondo Restaurant & Function Centre
Dal Mondo, located in the heart of Traralgon, provides a one-of-a-kind and authentically Italian dining experience, with delicious pizza and pastas, succulent meats, tasty risottos, and more on their a-la-carte menu. Their extensive menu of wood-fired pizzas has been meticulously designed to ensure a fine balance of flavours. Only 30 minutes from Lake Narracan, this location is the place for authentic Italian food.
MOMO Traralgon
MOMO Traralgon offers the community an exceptional dining experience through warm, welcoming, and efficient service, as well as quality meals and a wonderfully curated drinks list. The venue is a modern industrial restaurant with three levels, including a large and open ground level restaurant, an intimate upstairs function room, and a stunning rooftop deck. It is a must-see at 103 Seymour St, Traralgon VIC 3844.
Sampsons Bar & Grill:
Sampsons Bar & Grill is your Gippsland destination for the perfect wood-fired steak, as well as a diverse menu of burgers, mains, and appetisers. If grill is your thing, Sampson Bar & Grill will become your new favourite hangout. The grill, which has a more casual atmosphere, is located at 15 Contingent St, Trafalgar VIC 3824, and is only a 20-minute drive from Lake Narracan. When getting to know the area, don't miss out on this Trafalgar hotspot!
Natural Garden Chinese Restaurant
Natural Garden Chinese Restaurant offers quick service and high-quality authentic Chinese cuisine prepared with care. There is sure to be something for everyone on its extensive menu of family favourites. It is only a 25-minute drive from Lake Narracan and is located at 24 Contingent St, Trafalgar VIC 3824.
Finding a home and community that allows you to live your ideal lifestyle sometimes depends not only on meeting human needs, but also on meeting the needs of our furry friends. Many of us value the importance of finding a home that accommodates not only ourselves and our families, but also our pets. A dog, as we all know, is a man's best friend. Well, everyone's best friend! So, here are some dog-friendly spots near Narracan Lakes, as well as a few spots that are ideal for a day trip with your four-legged friend.
You’ll find Burrage Reserve at John Field Dr, Newborough VIC 3825. This well maintained and accessible facility is the perfect place to take a dog off a leash and let your pet run around freely. The oval is also a perfect spot for a walk and kick of the footy while your dog releases some energy.
At College park dogs are permitted off-leash in the park between Eastern Avenue, Monash Road, John Field Drive and TAFE Gippsland, Newborough. This is the perfect location for your pet to get in a run around.
The Henry White Reserve, situated in the township of Newborough, is an ideal spot for a walk with your dog. For your morning or afternoon stroll, there is a playground, plenty of grass space, and a walking path. Love coffee? The reserve isn’t far from Harry’s quick stop cafe where you can enjoy your morning brew!
Bring the family and pets down to Apex park for a picnic, play and walk around. This is the perfect place for a stroll if you want to keep the rest of the family entertained and are planning to keep your dog on its lead.
The Edward Hunter Heritage Bush Reserve in Moe is open 24 hours a day, is free to enter, and offers a relaxing stroll around the lake and through the bush. There is plenty of parking available, and it is a dog-friendly environment. It's only a few minutes' drive to Gippsland Heritage Park, and it's also close to the Narracan waterfalls, which are just a few minutes away.
You’ll find the Margaret Street Reserve playground at Leonis Court Moe VIC 3825. This location has heaps of well maintained grass area for you to bring your pets as well as a playground for the kids, barbeque and seats to take a break.
Waterhole Creek Reserve West in Morwell is a dog friendly Park that is off leash and stands only 25 minutes from Narracan lakes. This 5km walk near Morwell's CBD takes you through remnant riparian vegetation, the Aboriginal Cultural Heritage Trail, the historic Doll's House, and numerous examples of community life.
You’ll find Ashman Park located at Switchback Road, Churchill, West Gippsland, Victoria, 3842. This off-leash park has all the space and grass land for your precious pooch to play all day.
Only 25 minutes from Lake Narracan stands Victory park in Traralgon. This well maintained grassland and walking path is the perfect location for a walk with your pets. This location is only a 10 minute walk or 3 minute drive from the town centre where you can grab a coffee and take the pup for a workout.
Find the Bert Thompson Reserve located on Franklin Street, Traralgon. 25 minutes from Lake Narracan, this fenced off-leash area is the perfect location to take the pup. With immense grassland, concreted walking paths and public toilets nearby you’ll be set for a fantastic morning walk.
Hollydell park in trafalgar is a fenced, well maintained and spacious off-leash park to take your furry friend. Only 24 minutes from Narracan Lake, this is the perfect location to take your dog when you’re feeling a change of scenery but don’t want to travel too far. The park includes an airlock double gate entry with landing area for safe entry and exit, new footpath connections to improve access throughout the park,and signage outlining user rules and responsibilities.
Stages 1,2,3b are all sold out at Narracan Lakes. Now, for our many new homeowners, we have curated some of the top 2022 house styling trends for inspiration when styling your new abode.
Our homes have a direct influence not only on our moods, but also on our overall health and well-being. As a result, interior design trends are now centered on making us feel at ease. Peaceful spaces are all the buzz, and the trends that follow emphasise earth tone colours, nature inspired surfaces, warmth, comfort, and airiness.
Let's look at some major house styling trends we will see in 2022:
Beautiful retro shades of caramel, tans and chocolate browns are taking over interiors in 2022. These colours, very close to the tones you find in nature, reiterate the desire to create an earthy and calm space to live in. So, if you’re in the process of designing your interior, build in some chocolate coloured cupboards or buy a tan couch. For a more versatile approach add some caramel accessories such as pillows and chairs. The warm moody feelings these colours exhibit make you feel right at home.
This year you’ll find that stoneware, terracotta, marble, and travertine are trending in homes, inspired by nature. The flaws in these products reflect the regenerative surroundings of nature and the outdoors. These materials will be found in our backsplashes, bathtubs, furniture, and homeware accessories. There is something about the imperfections and asymmetrical curves of these materials that add a rustic touch to our homes. This can make the home feel cosy and rustic. When decorating your home try to add unique stone and odd shaped vases/accessories around your home as centrepieces or fillers and see your home come to life.
We're moving away from straight-line minimalism and towards cosier interiors in 2022. Our furniture tastes have shifted to be softer and more sculpted, resulting in a rather welcoming home. Curved furniture conveys a sense of deep luxury and grace, elaborating on the concept of creating a peaceful environment. When choosing your couch consider rounded edges and fun shapes. Final touches of building a home include finding pieces that encourage a homey feel and which add character to your living spaces.
2022 is the year to experiment with tactile textiles and textures in our living spaces. For instance, we are seeing more homes with patterned jute, rush, and abaca as a way to add some fun to the neutral foundation provided by a rug. Creating the character of your home through interior design can be a rewarding task that allows you to express your personality. Get creative and find a fun rug to add texture to your interior design choices.
Although earth tones are all the craze, people aren’t backing down from accessorising with pops of colour whether that's through artwork, accessories, pillows, shrugs and more. You may have heard of dopamine dressing which refers to joyful self-expression through vibrant, often loud, clothing. Now we are seeing this trend signaled in interiors and decor so that we can all live in a space of colour that makes us feel happy in our home. Shades of hot pink are popping up all over the media and in our homes in 2022. This colour is renowned for making us feel happy and calm.
Decorating your home is a personal process that allows you to create the living space of your dreams. This year's trends express earthy timeless staples that will never go out of style, with some pops of colour to keep you current while creating a fun-filled positive home.
Have you recently considered investing in property? According to Core Logic data from October 2021, national home values have risen at a 4.8 percent annual rate over the September quarter. Additionally, Aside from SA, each state and territory experienced a proportional increase in investor financing for property purchases through August. With property prices rising and interest rates expected to remain low for an extended period of period2, investing in real estate is becoming an increasingly appealing option.
There are various advantages to investing in real estate. Investors can enjoy consistent income flow, good returns, tax advantages, and diversity with well-chosen assets, and real estate can be used to grow wealth. Below we explore some major benefits of investing in real estate:
Many people invest in real estate to generate a steady stream of cash in the form of rental income. This passive income is a huge motivator to get started and purchase your first rental property.
A consistent flow of cash in succession may result in long term benefits of an investment. Because of the property's appreciation in value over time, owning a rental property can provide investors with a sense of security.
One of the advantages of investing in real estate is the tax breaks that come with owning a rental property. This is one of the primary reasons why many people choose to invest in real estate. Rental income, for example, is exempt from self-employment tax.
Essentially, your tenant is the one who pays your mortgage. Simply put, the rental income you receive each month is sufficient to cover all of your monthly expenses, including your mortgage payments.
The appreciation of capital assets (aka land) over time is one of the advantages of investing in real estate. In other words, your property's value will be much higher in the future, which is why investors are in it for the long haul.
When there is a lot of inflation, your rental income and property value both increase. Inflation is welcomed by real estate investors because as the cost of living rises, so does their cash flow.
Harcourts Property Management
With the wealth of possibilities that come with real estate investment. You might be wondering what comes next. Harcourts property managers can assist you whether you're new to investing or looking to expand your portfolio.
Our managers are dedicated to caring for your property and providing the best services. This includes. careful tenant selection, regular inspections, cost-effective maintenance coordination,
ongoing property investment feedback, and ensuring landlord compliance obligations are met.
Anyone considering purchasing a house as an investment should seek professional guidance from an accountant and a finance broker. Harcourts Warragul Property Managers will assist you in becoming a Property Investor by connecting you with investment salespeople, finance and tax specialists.
We'll also walk you through the following steps:
If you’re ready to take the next step and buy a property, visit our website for more information and request a rental appraisal, or contact our friendly team via the emails below:
Jess Barr jess.barr@harcourts.com.au
Jahleesa Gafa jahleesa.gafa@harcourts.com.au
It is critical to select a home that appeals to you and complements your lifestyle. However, it is the amenities and environment that can transform a "just a home" into a "community," not only for your convenience, but also to get involved, build relationships, and create the best lifestyle for yourself or your family.
Narracan Lakes recently released stage 2 and 3 lots in the estate, and the blocks are selling fast! Here, we'll go over a list of local or nearby amenities in Narracan Lakes' surroundings, and why these amenities may make Narracan Lakes the ideal estate for you, or, if you're looking for an investment property, your renters.
Everything you and your family need is within close reach to Narracan Lakes. You won’t have to travel far to find a wide range of local amenities in the area. Narracan and it’s surrounds possess a range of childcare centres, primary and secondary schools, a hospital, various medical facilities, major shopping retailers, public transport services and a community of sporting clubs. — Live your life closer to home in the hub of Latrobe Valley.
Everything you need at your doorstep:
| Local Amenities | ||||
| Medical | Retail | Education | Recreation | Other |
| United Medical centre, Moe Central Gippsland Family Practice, Moe Moe Newborough Medical Centre | Kmart Coles Woolworths Aldi Harvey Norman The Reject Shop | Narracan:Narracan Primary School Moe:Moe Primary School Moe South Street Primary School Albert Street Primary School St Kieran’s Catholic Primary School Newborough:Newborough Primary School Newborough East Primary School Saint Mary’s School Lowanna College Lavalla Catholic College East Newborough Preschool Murray Road Preschool | Latrobe Leisure Moe Newborough Latrobe Leisure Moe Outdoor Pool Appex Park - Moe John St Park Gippsland Cricket of Excellence Moe Golf Course | Moe Train station Old Gippstown Moe Botanical Gardens Moe Library Yallourn Golf Course TAFE Gippsland Yallourn Campus |
Sports and Recreation:
Adjacent to the township of Newborough and Moe are a variety of sports and recreation amenities such as the local football/netball clubs, the Rotary Club, dance clubs and so much more. If you love sport and community, you could be living a short 5 minutes away from some amazing facilities.
Lake Narracan
With a surface area spanning nearly 300ha, Lake Narracan is the ideal spot for power boating, waterskiing, jet skiing, sail boarding and sailing. It is also a great place for swimming, fishing, family picnics and walking on those warm summer days.
Moe Botanical Gardens (16km)
Only 6km from Narracan Lakes stands the Moe Botanical Gardens. The Gardens have a range of exotic and native trees, and walking paths to explore the garden which connects to Moe Yallourn Rail Trail. The railway themed interactive playground keeps the kids entertained including a flying fox, sandpit, nest swing and more. The Garden is complemented by ample car parking, toilets, picnic tables and a BBQ shelter which is perfect for a day out with the family!
Traralgon Farmers Market (25km)
Only 25 minutes away from Narracan Lakes, you can find yourself at the Traralgon Farmers Market. The Traralgon Farmers' Market, held on the fourth Saturday of each month in Traralgon's historic Kay Street Gardens, has become a favourite destination for anybody who enjoys outstanding fresh fruit and vegetables and beautifully crafted value added products. Enjoy this fun filled day surrounded by local businesses.
Enjoy the Narracan Lakes community and look forward to the future development of a new shopping precinct and display village, a school, and the $13 million Lake Narracan Foreshore redevelopment project, which will connect walking trails, parklands, and public spaces for your convenience. If this sounds like the ideal location for you or your tenants, please contact our friendly staff right today:
Jess Barr jess.barr@harcourts.com.au
Jahleesa Gafa jahleesa.gafa@harcourts.com.au
Are you a first-time home buyer? If that's the case, you might not know where to begin, and you could have a lot of unanswered questions. Considering purchasing your first house can be a daunting task for many people, especially if it is their first time. We can, however, advise you and answer some of your burning questions with the help of our Harcourts sales consultants and agents.
Today, we'll go over some of the most frequently asked questions from first-time home buyers. So, if you're looking for your first home, this is the blog for you, or it can even serve as an educational piece on what questions you should ask when buying a home:
FREQUENTLY ASKED QUESTIONS
So you may be thinking - how much money do I need before I can consider buying my first home? If you put between 5% and 20% down on a property, you may be required to pay Lenders Mortgage Insurance, which allows lending institutions to grant you a larger percentage of the purchase price. This can be included in your upfront costs or in your loan repayments, which will be spread out over the loan's term. If your loan exceeds 80% of the purchase price, you must pay Lenders' Mortgage Insurance.
You don't need Lender's Mortgage Insurance if you're a masterful saver and have a 20% or more of your deposit. This lowers your total loan amount, allows you to build equity faster, and saves you money on interest over the life of the loan.
Applying for a mortgage can be a tedious process, but there is a general overview to applying for a mortgage the right way. It is critical to complete this step correctly because missing information may cause lending institutions to reject your application.
Furthermore, various banks offer unique home loan packages, so do your research and start comparing your options. Mortgage lenders will require proof of income to ensure that you can repay the loan. If you're an employee, this will include your payroll information; if you're self-employed, it will include your tax returns.
Follow these five steps to apply for your mortgage:
Apart from your typical mortgage repayments, there are a number of upfront expenditures associated with purchasing a home. First and foremost, stamp duty and transfer duty must be considered. This is a state tax that is imposed on all home purchases and is computed based on the property's price, location, and mortgage type. This is a one-time expense that must be factored into your budget. You may be partially or totally exempt from stamp/transfer duty if you are eligible for the First Home Owner Grant in addition to the First Home Buyers Assistance Scheme incentives. This will be determined through personal consultation with your sales consultant/agent.
Purchasing your first home is one of the most significant investments you will ever make, and one of the most intimidating. It's easy for first-time home buyers to become overwhelmed by the numerous options and decisions that must be made in order to climb on the property market. However, there is a lot of assistance available to make the buying process go as smoothly as possible. If you’re interested in buying your first home or investment at Narracan Lakes and have a bunch of unanswered question , please contact our friendly staff today to guide you along the way:
Jess Barr jess.barr@harcourts.com.au
Jahleesa Gafa jahleesa.gafa@harcourts.com.au
