Case Study: First Home Buyer laying the foundations for long term success

Case Study: First Home Buyer laying the foundations for long term success

  • Posted by: Redom Syed

Omid Amin is a first home buyers looking to build his dream first home.  He purchased a block of land in Sydney’s south west & will build a new four bedroom home with an attached 2 bedroom granny flat.

Omid has been a strong saver & purchased his land a year before registration.  This gave him the opportunity to save additional deposit funds while the land was getting ready for registration.

The details:

  • Land price: $390,000, Construction: $450,000. Total: $840,000
  • Purchase date: July 2016
  • Registration date: June 2017

Finance considerations:

  • Omid works as a sales consultant and earns over 50% of his income as commissions.
  • While Omid had a 20% deposit available, he was looking to keep as much of his funds as possible in an offset account to be able to negotiate & reduce his build costs.
  • The value of the land has increased over the course of the year.
  • Omid and his partner were also looking to set themselves up with a 10 year wealth accumulation plan. He was looking for direction to help build a sustainable future for his wife & future family.

Finance plans:

  • Working around Omid short & long term plans, it was important to find a lender that would:
    • Allow financing with a smaller deposit as much as possible without incurring any additional fees.
    • A lender that accepts a high reliance on commission income; &
    • A lender with good interest rates & fees to help manage costs of a larger mortgage.


  • Noting these requirements, we found a lender that:
    • Allows 100% of commission income to be used for borrowing power. This allowed an additional $80,000 in borrowing power.
    • A lender that accepts the market valuation of the land, not the contract price.
    • Market leading rates & no annual fees.

Here’s what Omid had to say about dealing with Confidence Finance

Curtis & the team at Confidence could not have been more supportive in helping my family build our new home and granny flat.  He was professional & clearly passionate about what he does.  He worked tirelessly to find us a solution that suited our unique requirements & came up with a plan to help us start the foundations for a long-term wealth creation strategy. The result is great, by keeping a little more of our saved funds available to us, we’ll be able to reduce our ancillary construction costs by negotiating with parties directly.   

Thank you Curtis & the team at Confidence Finance.

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