Tips for buying a home

There are many things to consider when buying a home. These tips will help you focus on what’s really important during your home search.

1. Know what you want.

• Do you want to be close to shops?
• Do you want to be close to public transport?
• Is it important to be away from major roads?

All of these things should come into play when you are deciding on a new home or location for your new home. It’s these little details that can really make the difference.

2. Know what you can afford.

To be in the best position to make an offer when you find your perfect house, talk to us about a better home loan to suit your needs.

Going into property negotiations knowing what your budget is helps ensure you don’t get ‘caught up in the moment’. The thought of owning a new home is exciting, but over spending on what is manageable can end up with you feeling frustrated that the new home hasn’t equaled the better life you had envisaged.

It’s also a good idea to understand what type of home loan would best suit your needs.

3. Research.

Whether you are buying an established home or building a new home it’s important to do your research.

If you are buying an established home take the time to look at other homes in the area and compare the asking price or look at recently sold properties in the area including what their selling price was. This information will help you make a better and more educated decision about what your offer should be. We can provide you with FREE property research through Core Logic RP Data which will give you information on the suburb and property you are interested in. Remember when it comes to buying a house… knowledge is power.

If you are looking at building a new home, don’t budget for the standard home price, make sure you take all the finishing touches into account; flooring, landscaping, curtains, for example, are all items that often are not included in the building cost.

4. Decide what home loan suits you best.

It’s also a good idea to understand what type of home loan would best suit your needs. Fixed versus Variable can be a hard decision to make, so why not start with thinking about the type of person you are.

• Do you like to have a budget and stick to it? If so a Fixed rate will ensure you know what your repayments will be week in, week out.
• Will you want flexibility to pour as many funds as possible into your mortgage to help you get ahead? Then, perhaps, think about Variable for a touch more flexibility.

If you are still feeling unsure, get in touch with us and we can help you weigh up all the options.

5. Arrange pre-approval on your home loan.

This ultimately takes a lot of the stress away from purchasing a house. You know what money you ‘have to play with’ and you can confidently put an offer in on a property when you find one you love.