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10 Things 1stHome Buyers Need to Know Before Purchasing Property


  1. Having Your Finances in Order; Completing your Property Research; Attending Open for Inspections; Curbing your spending habits.

  2. Decide whether you are on Owner- Occupier or an Investor

  3. Important things to Consider: Loan Types; Interest Rates; Government Grants; Stamp Duty; Taxation implications; Types of Property which Best Suits You and Your Circumstances

  4. Understanding Your Financial Position: Saving for a Deposit; Getting Approved for a Loan; Stamp Duty Implications; Inspection Reports; Specialists Advice for Mortgage and Building and Pest Inspections; Understanding Zonings; Types of Property Titles

  5. Having a Game Plan: Research the Areas you are Considering to Live in; Have a Checklist of Requirements; Have a Budget and a Contingency; Become Familiar with the different ways Properties are Sold; Auction, Private Sale (or Treaty), Expressions of Interest, Sale by Tender.

  6. Keep a Balance between Head and Heart: Maintain an Open Mind remember the 1stProperty you fall in love with may not be right for One for You; Set a realistic Budget and have a checklist of what’s important to you; Discuss Pros and Cons with someone you Trust; Be Philosophical and stay focused.

  7. Know What Your Non-negotiables are and What you are prepared to Compromise On; Focus on the Big Ticket Items; Don’t Sweat the Small Stuff as Paint colours can always be Changed. 

  8. Importance of Doing Your Due Diligence: Make sure Your Finances are in Order and Current; Have a Solicitor or Conveyancer Review the Contract of Sale and Section 32; Request a Professional Experienced Building and Pest Inspector to Report on the Property so you are aware of any Structural Issues/ Concerns

  9. Prepare to Negotiate: Your First Offer May Not Be Accepted; Stick Closely to Your Budget; Most Things are Open to Negotiation; Don’t Be Afraid to Ask Questions as Information is the Key; If uncomfortable with Negotiations ask Someone You Trust to Do So on Your Behalf.

  10. Patience is a Virtue: this is a Major Financial Decision; Take It Slowly but be Prepared Financially so You Can Make Offers with Confidence; Enjoy the Journey No Matter How Long it Takes to Get It Right; Home Ownership is Worth It.