The process of buying a home can be overwhelming, whether it’s the actual cost of the home or the fees, to the many open homes to trolling the internet and print media, we understand it is easy to feel overwhelmed. It’s important to take your time, do you research and be certain you’re making the right decision to get your dream property.
When it comes to buying your property you need to know what it is you want, and what you are willing to compromise on, it’s important to set a clear budget ensuring your finances are in order before you start looking at properties.
Research the market, it is easy to get caught up in purchasing a property. Make sure you look at the location, is it in an area with good public transport, schools and shops.
If you are looking for an investment home look at what can you expect for a rental return. If your dream suburb is out of your budget, consider more affordable neighbouring suburbs.
Once you have done your research and found your area the next step is attending open homes.
It’s easy to get caught up in a well-presented property, make sure you take the extra time to look around to make sure you’re making the right decision.
Some things to look for when you inspect:
• Is the property in good condition?
• Is it located in a street and area that is suitable?
• Does it have the features you want?
• Check for evidence of mould
• Is there enough storage space?
• What repairs are required?
• Is it in reasonable condition for the price asked and how does it compare to other properties?
If you are interested in a property but unsure about some details, ask the agent if you can go back and have another look.
It’s essential to organise the building and pest inspection to provide you with any potential issues that may arise. There may be issues with your building that aren’t apparent at first glance. With the strata report to hand you’ll be able to make an informed decision about the building you’re looking to invest in. Make sure you discuss any concerns with the agent.
Don’t feel rushed or pressured when making an offer, keep your emotions out of the decision. The next step is to put an offer in writing to the real estate agent or seller. Once you’ve reached an agreement the vendor you may be asked to come in and for the contracts to be exchanged and for you to pay a small holding deposit typically 5-10% of the purchase price. The agent and conveyancer or solicitor can help you through this process.
You’re entitled to inspect the property at any reasonable time during the week before settlement. Contact the agent to arrange this inspection.
Once settlement is completed, you can collect the keys from the agent and take possession of the property and start to celebrate.
We understand that Real Estate is a life-long journey. Some days we are buyers, some days we are sellers, and sometimes we just need a rental property or new property manager for an investment property.