Do your research
As a buyer today, you have a countless number of resources literally at your finger to do some detective work on the area you want to purchase in. Spend some time researching the market, both over the internet and by physically looking at properties. Get to know the values of properties in the area you want to buy so you can be confident to make an offer when ready.
Get your finance sorted
It really important to know what your can afford to buy in a market, have a chat to a finance broker and do the numbers so you know your limits. Having your finance ready and pre-approved can put you in a stronger position to make a good offer that will be accepted.
ready? set, go!
If you’re confident with your budget, market knowledge and ready to buy, don’t waste anytime when the right property comes up. If you hesitate, someone else could pip you at the post and buy it, and it could be months before you find something suitable again.
Managing your expectations is really important when making the big leap into the property market. There normally seems to be one or two things wrong with every property, and the one that seems perfect is always 20% more than your budget. Be prepared to make a little bit of sacrifice, although you want to find a property you love, those in search of ‘perfection’ usually waste so much time, by the time they buy something prices have gone up 10%.
Due diligence is a must
If you have made an offer on a property, for the love of gravy make sure you do your due diligence. It’s always very wise that you have a certified professional carry out a building and pest inspection. A search of the Body Corporate records if you’re buying a unit gives you an understand of the financial health of the Body Corporate. These can all be added in to the contract as conditions, so you can negotiate and secure the property first.
Enjoy your new home
Buying property is a huge milestone in most people’s lives and when the ink dries on the paper it is only natural to feel a little fearful and nervous. As long as you feel you have properly researched the market, carried out the proper due diligence and purchased with in your means, rest easy and enjoy your new home!