Learning journey: Buying your first home



Saving for and buying your first home can seem an insurmountable challenge with rising interest rates, inflation and an expensive property market. The Buying your first home learning journey brings together a number of MoneyED modules specifically selected for those saving towards a deposit and purchasing their first home. From weighing up the benefits of buying versus renting to understanding the process of arranging a mortgage and buying a property, this collection of modules will help you get your finances in order and onto the property ladder.

With its modulated design, this programme is designed to be self-paced with an approximate total completion time of 125 minutes.




    Curriculum

    80
    Important information
    Introduction
    Is it a good idea to buy a home?
    Timing and building a deposit
    Example: Borrowing from parents
    Income and expenses
    Short quiz
    Important information
    Introduction
    Getting started
    Initial ongoing expenses
    Volatility of ongoing expenses
    Longer term costs and benefits
    Additional risks associated with buying a home
    Alternatives to buying or renting a home
    Short quiz
    Important information
    Introduction
    Saving using a bank account v the FHSS scheme
    Getting started and eligibility
    How to save with the FHSS scheme
    How much can be withdrawn?
    So, you're ready to buy a home!
    Short quiz
    Important information
    Introduction
    What is a mortgage and how much do I need?
    What banks focus on when lending
    Some options if you're falling short
    Using a mortgage broker or going direct
    Conclusion
    Short quiz
    Important information
    Overview
    Introduction
    Product features
    Don't forget about lenders mortgage insurance
    Get pre-approval
    Short quiz
    Important information
    Overview & introduction
    Vendors statement often known as ‘Section 32s’
    Make an offer and secure the property
    Move into your new home
    Short quiz
    Overview of inflation and interest rates
    The relationship between inflation and interest rates
    Rising or falling prices
    Short quiz
    Important information
    Introduction
    Characteristics of debt
    Types of debt
    Reasons to borrow money
    Using debt effectively
    Example: Tax deductible borrowing
    Conclusion
    Short Quiz
    Introduction
    Mortgage insurance
    Other benefits of waiting and saving for a bigger deposit
    The benefits of buying sooner
    Market timing
    Short quiz
    Budgeting basics
    Looking forward to look back
    Getting your baseline right
    Short quiz
    Introduction
    The Household CFO Strategy
    The Envelope Strategy
    The 50-30-20 Strategy
    The budgeting process
    Short quiz (Update)
    Important information
    Introduction
    What are your financial values?
    Financial values inventory exercise
    What makes a good financial goal or objective?
    Defining your own financial objectives

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