When it comes to buying, we know it’s a big process so we have simplified the step by step progression for you!
1. ARRANGE YOUR FINANCE
Take a good look at how much you will be able to save as a deposit, or how much equity there is in your existing property/ies if you have one. This will give you a good place to start when it comes to deciding what you can afford. A good idea is to then work with a reputable mortgage broker to help you find the best home loan, and interest rate for your circumstances.
2 .DECIDE ON WHAT YOU WANT
Your list should include the most important aspects to you right through to the least important. This will also be a very valuable guide for you. An easy way to break it down is using a ‘must have’ and ‘like to have’ list, so you know what you are willing to compromise on, i.e garage vs. butlers pantry.
3. MAKE THE MOST OF INSPECTIONS
Don’t hurry through a property visit. Take your checklist and note down questions while you are there. After viewing a range of properties, you can easily become confused about which house had which feature, so don’t be afraid to take notes!
4. MANAGE YOUR OFFER
Don’t get caught up in the emotion of finding the property you like. Carefully consider issues like fixtures, possession day, price, and consider a builder’s and pest inspection so you know exactly what you are purchasing.
5. CONTACT YOUR SOLICITOR
Your solicitor will make sure any unforeseen complications are highlighted through checking official records and information before the deal goes through.
6. 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 if you are using one and also cause more stress than you need.
7. ENJOY YOUR PROPERTY!
It’s been an exciting time looking for the right place, and a well-organised moving day will help everything go smoothly to start you off on the right note.
Whether you’re looking for your first home or thinking about an investment property or holiday home, the following steps will help you achieve a successful result.
Some factors to consider into the above include:
1. Are you selling a property to buy another property? If so will it be easy to sell your current property?
2. Do you know what your home is really worth? If not, arrange a valuation from the Harcourt’s Central team.
This article originally appeared in the Harcourts Property Focus April 2017 edition.