Buying a property is possibly the most chaotic time of your life. Let our 10 tips for hunting and buying a property ease the pain.
Where to start when buying a property
- Get digi daily
Set up daily, weekly, monthly immediate email alerts direct to your inbox and mobile.
- Do the (invaluable) research upfront
Get to know the suburb, street or unit complex inside and out. And you gotta know how much others have paid (subscribe to rpdata.com).
- Don’t be shy, connect
Make yourself known to local real estate agents. Get on their e-newsletter lists and show your face at all relevant open homes. (You can never tour too many homes).
- How much dosh you got?
Engage a trusted broker (or your bank manager) to run the mortgage calculators. You don’t wanna eagerly look at homes way above your price range.
- Pre-approvals rock
Give yourself the best chance during negotiations and prior secure a pre-approved finance, conditional on the property you buy for extra grunt. It’s incredibly easy to do (and takes around one week).
- Gather your legal team
Collate at least three quotes from solicitors in preparation to read over your contract documents prior signing.
- Be a serious buyer
Seek copies of all notices before placing a written offer. This shows you’re keen and helps you forecast budgets.
- Negotiate hard
Know what the property is worth (via Step 2) and offer accordingly :: not what your emotions say.
- Inspections are your friend
ALWAYS (which means always) conduct a pest and building inspection within the timeframe of your contract clauses.
- 10. Site your new digs
Act on the side of caution and conduct a pre settlement inspection to ensure everything is in order. You still have time to push back if something doesn’t meet your expectation.
We also created this post as a FREE downloadable resource here if you wanna hit print, stick it on your fridge and over a few times to ensure you’re ticking all the boxes.
Happy house hunting DIYers.