What is a Home Buying Plan, and Does It Cost Me Money?
- namchau
- Mar 30
- 2 min read
A Home Buying Plan is a personalised strategy designed to help you understand your current financial position and map out your journey to homeownership. Whether you're ready to buy today, next week, next month, or even next year, this plan provides valuable insights into your purchasing power without requiring you to lodge a formal loan application.
At Ascot Mortgage, we believe in empowering home buyers with the right knowledge and tools. That’s why our Home Buying Plan is completely free of charge—allowing you to plan your future without any financial commitment upfront.
What Information Do We Need?
To create an accurate and tailored Home Buying Plan, we require a few key documents:
Most Recent Payslip – If you are employed on a casual, part-time, or full-time basis.
Bonus or Commission Statements – If you receive additional earnings through performance-based incentives.
Self-Employed Individuals – Most recent tax returns to assess income stability.
Savings Statements – To evaluate your deposit readiness.
Liability Statements – Including credit cards, personal loans, or car loans to gauge existing financial commitments.
What Can We Determine from These Documents?
Based on the information provided, we will assess key financial metrics to help you make informed decisions, including:
Maximum Borrowing Power – Understanding how much you can borrow based on your income and financial obligations.
Minimum Deposit Needed – Identifying how much savings you need to secure a home loan.
Buying Ranges – Establishing a realistic price range for your property search.
Home Buying Timeline – Providing a roadmap on how close you are to homeownership and the steps required to get there.
Additional Benefits
Beyond just determining your financial position, a Home Buying Plan also helps identify whether you qualify for any government schemes and promotions. This could include first-home buyer incentives, stamp duty exemptions, or low deposit loan programs that make homeownership more accessible.
Why Choose a Home Buying Plan?
A Home Buying Plan gives you clarity and confidence in your home-buying journey. It allows you to take proactive steps toward securing a home while ensuring that you are financially prepared. Instead of rushing into an application with uncertainty, you will have a structured plan tailored to your situation.
Get Started Today If you're considering purchasing a home, don’t leave it to chance. Reach out to us at Ascot Mortgage, and we’ll create a personalised Home Buying Plan to help you get one step closer to owning your dream home.
Comments