Buying a new home is EXCITING! Well it is definitely exciting when you find the right home. But how do you find the right home?
Gone are the days where you call up your local real estate agent and ask them to “show you the properties” in the area. These days, with most houses being listed online (on realestate.com.au and other realestate websites), it is possible to find that perfect home without seeking the direct guidance of a real estate agent. Once you shortlist a few homes that you are interested in, you can contact the agents who are listing the properties to arrange a viewing. The beauty of this new way of doing things is that you get to see the best properties that are on offer from a whole range of different estate agents and companies.
One valuable piece of advice that can help you with the decision making process, is to first go and see your financial institution to review your finances and find out exactly how much you can afford to spend. Once you are woo-ed and charmed by the impressive home that is outside of your budget, it is an unfortunate process to have to discover that you can’t actually get the finance. So it is always wise to first assess your budget to avoid disappointment. Getting pre-approval for a mortgage will put you in the power seat when it comes to making an offer. It means that you are ready to pounce immediately when you find that right property. Many unfortunate buyers have missed an opportunity because they did not have their finances sorted prior to finding their dream home.
Location and travel times are important factors when deciding on the purchase of a home. If you are unsure about the location, you can use one of the maps App’s on your phone at different times of the day to project travel times between important locations (ie: potential new home to work in the mornings).
Write up a list of requirements before you start house hunting and separate it into “negotiables” and “non-negotiables” so that you can see clearly during that emotional time. Once you have made an offer on a home, your bank will likely require that you engage a building inspector and a pest inspector to inspect the property, to ensure that the home is structurally secure. After all, if equity in your home is the security that your bank has on the loan, then they want to ensure that their investment is sound, not structurally defected or infested with termites.
Good luck and call us on 0409 299 409 when you need a building inspection.