Hints for Buyers
Are you truly 'ready' to buy?
Speak to your friendly Bank Manager or Finance Broker to find out the amount of loan you can qualify for and can comfortably afford. This will save you countless hours by looking for homes only in your correct price range.
Know what is important to you
Make a list of the ‘must haves’ and the ‘would like to have’s’. You know that you are going to have to compromise, but it’s helpful to know the points that you will not compromise on. These might be: Price; Suburb; Number of Bedrooms; New Kitchen; School zone etc.
The worst house in the best street vs the best house in the worst street
Buying the worst house in the best street will give the you the highest chance of increasing your property's value over time. If you buy your dream home but it's in a street/suburb that's not considered to be great, you need to weigh up whether you want your dream home and all it offers, or if you are considering the re-sale value of your home in the future. This is something of critical importance to the investment buyer.
Understand the paper work
Paperwork, paperwork, paperwork. It's something that can't be avoided when purchasing a home, and even more so when obtaining finance is involved. Make sure that you fully read every document you are given, ask lots of questions, seek independant advice and check, double check, and then check everything yet again before you sign your name.
Research and more research
Research the suburbs you are interested in. Find out what similar properties are selling for - this way you are developing your own knowledge and not just relying on your agent. Register for emails from agencies to obtain the most recently listed properties.