We found this article from RealEstate.com.au about tips to buying a home and thought it was good enough to share.
I think that this is a great article covering off some of the more common issues that we see, and we agree with the 5 points that they put up – these are:
- Start Saving Early:
- Whilst a 5% deposit might cut it, 20% is much better.
- Get your finance pre-approved:
- This takes the stress away from looking and wondering if you can or cant. More importantly perhaps, can really give you a great advantage come negotiation time
- Know what you want:
- Buying a house can be really emotive. You need to ensure you have a list of ‘must haves’ to ensure you don’t end up buying something you like, rather than something you need.
- Save time by using professionals:
- You MIGHT buy a home every ten years. Professionals within in the industry are involved every day. They’re more experienced with up to date knowledge – use them!
- Do your Inspections
- Don’t skimp on the building and pest inspections. These are ‘relatively’ cheap insurance against the renovations costs of repairs that may need doing.I do believe however that they’ve missed a 6th.
- ASK LOTS OF QUESTIONS:
Buying a new home, or your first home is a MASSIVE investment and something that will have ramifications for your financial life for years to come. Don’t go it alone.
Find a trustworthy person who can assist you from understanding the community, help you with repairs or moving, point you in the right direction for finance or council related issues. In fact, it may not be limited to just one person, but you get the idea.
Research will most definitely help, but when it comes to suburb nuisances, you just cannot beat local knowledge.
Do you think they missed anything else?