Buying tips

Know your budget

The first step to buying a home is understanding what you can afford. Talk to your finance broker to find out how much you can borrow and get a clear overview of repayments, interest rates and insurance.

If you own a current property, your financer will also be able to help you determine if you need to sell your current home before you buy.

Get a clear picture of your dream home

Once you know your budget, the next step is defining what you are looking for. Make sure you have a clear idea of what you and your family are looking for, what you want to achieve from your new property and what you would be willing to spend on the property if it requires renovations.

Build a list of must haves, as well as what other desirable features that you are willing to negotiate on.

Contact local agents

Buying takes time and local agents can help you with your search. Let them know what you are looking for, they are there to help you. Reach out to leading agents in your area and make sure you are on their contact list for new properties as they hit the market.

Inspecting houses

Inspecting homes can be daunting, especially if you are inspecting a number of properties during the day. Taking notes will help you remember any follow-up questions you have for the agent. Agents are usually very busy on Saturday, so make sure you are punctual and arrive during inspection times. If you need another viewing or inspection time, the agent will happily organise this for you.

Building and strata reports

If you find a property you are interested in, you should request a building report, or if it’s an apartment, or townhouse getting a strata report will give you detailed information on any outstanding work required on the property.

Making an offer

The property market can be very competitive. Once you find a property that fits your needs, don’t delay. It’s important you let the agent know you are interested and put forward your best offer, otherwise someone else might beat you to it.

Being strong and forthcoming and offering your best price will tell the owners you mean business. The quicker you make a good offer and put down a deposit, the less chance there is of other buyers seeing the property and offering more.