Saving for a house deposit and finally purchasing a home can seem like a marathon task, but you might already be prepared enough? Here are Rosie & Rosie's signs that indicate you might be closer to your own home than you think.

1. Steady employment

Having a fulfilling and secure job that provides you with a healthy bank balance is an essential first step to owning a home. Being able to provide proof of a steady income to a bank is one sign that you might be closer than you think!

2. Deposit saved

House deposits can vary, but often 10% of the house cost is expected as a down payment. First home buyers may be able to access the RevenueSA's First Home Owners Grant, which can give you just that bit extra that you might need if you are purchasing or constructing a new home.

If you are relying on the grant to be able to afford your home, take the time to consider if you will be able to cope with other expenses on top of a mortgage and the general cost of living.

3. Emergency funds & savings

Make sure you consider the ongoing costs of owning a home and what unexpected costs that might arise in the future. Will a sudden emergency put you completely underwater? Being able to demonstrate regular saving activity in your accounts will get you one more step closer to your dream home.

4. Your debt is under control & credit score is healthy

If you are fresh out of university and still have $30 000 of HECS racked up or still have a stack of debt owing on a car, maybe reconsider purchasing a home. If you’ve got minimal debt remaining on your cards, personal loans or car loans, you’ll be in a much better position to get a home loan and experience less of a struggle by not having to make repayments each week across numerous debts, on top of a mortgage.

5. Not looking to move for a few years ahead

Buying is generally better for your bottom line than renting, but only if you are expecting to stay at least 3-5 years. If you feel like you are ready to settle down in an area for a while, you might be ready to buy.

6. You are ready for all the nitty-gritty bits

Buying a home is an exciting time but reading through and sorting out all the contracts may not be so fun. It’s a necessary evil though, so make sure you are ready to engage a competent lawyer you trust to help make the process as smooth as possible.

Owning a home means that you are responsible for all maintenance and repairs. Be careful with DIY jobs as you don’t want to cause more harm than good! Try to be prepared and have a list of trades, ask your friends around town who they would recommend or post in a local community group.

Buying a home isn’t just about the upfront deposit required, make sure you do your research into council rates, stamp duty, and utilities. These costs can add up and become overwhelming quickly if you aren’t expecting them. If you’ve already considered this, you should be feeling pretty confident.

7. You’ve done your research

Investigating what house prices are like in your desired neighbourhood is a great place to start, but you should also consider whether the area is looking like it might gain or lose some value over time.

If you think your ready to enter the property market and would like some expert advice, why not contact Rosie & Rosie at http://rosieandrosie.com.au/contact/