Buying your first home is exciting, but there’s a lot to know and do.
Real Estate agent is a person who is an expert in buying and selling properties.
They can help you determine your buying power. Agents are there to help you find what you're looking for. They guide you in sale & purchase agreement, conditions on the agreement.
Ask agents questions to get as much information as you need to buy a home.
2- Arrange your finance:
Find out how much you can afford. Contact a mortgage broker or a bank and they can advice you how much you can afford to borrow, as well as in repayments. Borrowing capacity depend on your income, current monthly expenses, deposit and the current interest rates. You should also keep in mind the additional ongoing expenses that you will need to cover when owning a home such as rates, insurance etc.
3 - Your Dream Home:
Find out the best location to buy a home that is suitable to your budget and needs. Make a list of what you want in your dream home. e.g. must have 3 bedrooms or small study room, must have a beautiful garden, close to school or office, fully fenced with full privacy etc.
4 - Keep Cool:
Often Home Buyers pressure themselves into buying something because they feel that they have looked for too long or that someone else may also be ready to purchase that same house. Buying a home is an important financial decision. If a property doesn't have something that you need, say an extra bedroom for your new baby, then don't buy the property.
5- Check for Property Title:
Once you have found your dream home, check what type of title the property has, freehold, lease hold, unit title or cross lease. Check whether the property has a body corporate or other associates fees.
6 – Get Expert Advice:
Once you have found your dream home. It is often a good idea to get a building inspection completed by a registered and qualified tradesperson, to make sure that the building is structurally sound.
