Archive for purchasing success

Tips to help you purchase a property

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.

Tips for purchasing success

Attending open home inspections in search of your ideal property is an exciting time, however it can also be exhausting and frustrating too.

To help you make the best property choice, it’s a good idea, before attending open home inspections that you have a clear idea and a list of your next property’s ‘must haves’, as opposed to the things you would ‘like to have’. For instance, you may have two teenage children, so one of your ‘must haves’ is having a bedroom for each child. You may also work as a tradesperson, so having a secure garage for at least two cars plus tool storage is a priority. Your ‘like to haves’ may include a theatre room and a second living area – these are the features that are great if you can get them, but can be compromised or renovations done to achieve them at a later time.

You should also consider further investigating a property that fundamentally fulfils your ‘must haves’, except for a few issues that are holding you back from purchasing.

Rather than eliminating the property based on these issues, have a closer look and judge, or get an expert’s opinion on whether these issues may have an easy and inexpensive solution? You may even save yourself a lot of money by purchasing and doing the rectifying work yourself.

When attending open home inspections, have your list handy and check your ‘must have’ items off. Then take a note of any issues; and perhaps take photos of them, for you to evaluate and research your options.

Here are a few examples of issues and fixes:

Construction
Poor construction of walls or floors may seem like a huge issue, but may be easy to fix. Some walls can be demolished to open up areas of the house, and floors fixed or new floors placed over the top to gain what you are looking for.

Unappealing design
Don’t be discouraged by the ugly tiles in the perfectly sized bathroom or kitchen. Tiles can easily be replaced. Many hardware stores also have easily constructed modern flat-pack cabinetry, and many can also install custom made timber or stone bench tops.

Not enough storage
If there is a lack of storage, consider building a shed, built-in wardrobes, or purchase a lovely set of drawers to serve your needs.

Air conditioning
If there isn’t any heating or cooling in the property, it is often easy to install air conditioning – and it certainly adds value to the property. Also consider insulation to keep the temperature constant and to reduce your power bills.

Unappealing backyard
The backyard is often full of opportunities. Adding a pergola, BBQ area, paving and beautiful gardens are all straightforward projects that will not break the bank.

Finally, when attending an open home inspection, don’t hesitate to ask the Sales Consultant as many questions as you like. The Sales Consultant is usually a great resource for the best local tradespeople to gain quotes on any issues you want addressed.

For any real estate advice, contact our highly experienced sales professionals on 4628 7444.