Buying a home is just as exciting for seasoned buyers as it is for those who are entering the property market for the first time, and while many experienced house buyers may think they ‘know it all’ with regards to signing on the dotted line, this is not always the case. Below are some fantastic tips that first timers and house-buying veterans will benefit from.
1. Always Have the Relevant Independent Property Inspections Performed
Far too many new and experienced homebuyers try to save a few hundred dollars in the beginning of the purchase process by foregoing the necessary property inspections – only to have this move come back and bite them with a vengeance at a later stage when something serious goes wrong.
Before agreeing to purchase a home, it’s essential that you have a full property and pest inspection performed. This will alert you to any potential structural problems or pest-related issues that may be present. Although buyers may feel like they are wasting money doing this, they could find themselves spending far more to rectify a serious problem that arises at a later stage.
2. Know your Financial Limitations
It is crucial that you know how much you will be able to afford to pay for a home before even bidding at an auction or making an offer. One of the best ways to find out how much you will be able to comfortably spend is to talk with a few different lenders ahead of time. This will also enable you to learn about other associated house purchase terminology such as offset accounts and repayment holidays (if applicable). It is also essential that you take future home maintenance expenses into consideration, as this can become costly.
3. Consider Surrounding Suburbs
Do you have your heart set on buying a home in a particular suburb, but have since discovered that you will not be able to afford to do so? If so, all may not be lost. In many cases, you will still be able to enjoy the amenities that your chosen suburb has to offer if you are willing to purchase a home in one of the suburbs that surrounds your chosen area.
4. Look Past the Staging
May sellers will stage their homes in such a way that furniture and other items will be used to mask or even hide defects or potential pain points. For example, do you and your family require several power points for all of your gadgets? Would you like a slightly larger than average bathroom with a bath and shower or a kitchen that is large enough to seat several house guests? Before going house hunting, it is essential to make a list of everything you are looking for in a home to ensure that you will not be frustrated at a later stage.
When having property inspections performed, it is essential that you hire the services of a reputable company. If you would like to learn more about which aspects of a property require inspection or how the process works, contact our team today.