Whether you’re looking for your first home, your next home, or thinking about an investment property, the following steps will help you achieve a successful result.
Arrange your finance
Take a good look at how much you have or can save as a deposit, or how much equity there is in your existing property/ies. This will give you a good place to start when it comes to deciding on what you can afford. A reputable mortgage broker can help you with this, as well as help you find the best home loan and interest rate for your circumstances.
Decide on what you want
Create yourself a “property requirement list” that you can refer to. It should include the “must haves” (such as number of bedrooms, bathrooms and garaging), and the “like to haves” (such as a pool or theatre room). This will be a valuable guide to keep you focused. Also keep in mind that some properties can be altered and renovated to your requirements – but the cost of this must also be considered.
Get some help
Looking for a property on your own is fine as a starting point, but when it comes time to dig deeper and really get to know the local area, it’s smart to talk to a knowledgeable local real estate expert.
Look at the prominent real estate agent/s in the areas you are keen on, and speak to them. These agents are not only a good source of local information, but can also keep you on their database for when a property comes up that suits your criteria.
But that’s not all! A great agent can help you with lots of other things during and after the buying process. Ask them any questions you may have, as their advice will often short-cut your efforts.
Make the most of inspections
Don’t hurry through open house inspections. Take your list and note down strengths and weaknesses of the properties you like, and any questions or issues you may have. This is important, as after viewing a number of properties it is easy to confuse and mix-up the details. Notes will ensure there is no confusion and you are on top of the correct information at all times!
Manage your offer
Don’t get caught up in the emotion of the purchase. Think logically, and carefully consider issues like fixtures, settlement and price. And make sure you get building and pest inspections so you know exactly what you are purchasing.
Contact your solicitor
Your solicitor will make sure all the paperwork is in order, and any unforeseen complications are highlighted through checking official records and information before the sale is final.
Settlement and moving
Try not to move in on the same day the previous owners are moving out. You may not get access until late afternoon, which can hold up a professional moving company, and cause more stress than you need.
For more information on purchasing a property, speak to one of our highly experienced Sales Consultants on 4628 7444.