Buying a property

Buying a property is about the biggest financial commitment and decision you will ever make. However, it is also an exciting time that you should enjoy! To make this process a little less daunting, we have put together these tips to help you in your journey.

What can I afford?

If you are planning to borrow to buy, and let’s face it - most of us are, then the very first step in the buying process is to speak to your bank or broker to discuss your lending capacity. This will determine your budget and what properties you can start to look at. Just be sure to realistic during this process - only accept a loan or borrow what you can afford to pay each week without being too much of a stretch. It’s great to be offered an amount, but it’s OK to say no and simply accept less to make things a bit easier. It’s not a bad idea at this point, if you haven’t already done so, to put together a household budget too. If you need help with a lender or someone to help manage your budget, give us a call - we would be happy to help you with some trusted names who can help.

What suits our needs?

Now that you have your budget sorted, it’s time to sit down and really think about what you are looking for in a home. It’s easy to get caught up in the buzz and overlook some of the features of a home you are really wanting. Whilst there are always going to be 1 or 2 compromises, you should at least put together a list of what you really can and cannot compromise on.

At this point you will look at where you want to live - do you want to be close to the beach? Would you like to be in a particular catchment for a great school? Are you wanting a tree change and some space for the kids to run and play? It’s a great idea at this point to also consider the future - size of family, job changes etc can all be factored into this important decision.

Start hunting!

Now that you have your budget sorted, and that checklist ready, now begins the fun part! The best tip we can give here would be to make some notes on each property you inspect that you like - this way you can remember all of those little features perhaps not mentioned in the ad or seen in the images that can help in your decision making. Also, write down any questions you may have for your agent on each property. This is an important decision, and you will be more at ease with buying when you have all of those questions answered.

You’ve found it…

There are two ways of buying a home – auction or private sale. At auction, make sure you keep your financial limit in mind. Remember, once you have made a bid, it cannot be withdrawn. For more information on the process of making an offer or bidding at auction, don’t hesitate to get in touch.

It’s time to get those keys!

Before you know it, settlement time has arrived! This is the day you get the keys to your new property. Welcome home!