Buying a property can be a stressful experience, however with our few tips it can make buying a property the fun and exciting experience that it should be.
Speak to your financier
Rule No. 1 is to speak to a financier to see what kind of loan you can afford. There is nothing worse than looking at houses that you think that you can afford to then be told that your ideal property is nowhere in your financial reach. Avoid the disappointment by sorting out all of your finances and get the go ahead from your bank manager before you start looking at houses.
What exactly do you want?
Clearly define what you are looking for before wasting time looking at properties that won’t be suitable. This will also save you from getting tired of looking at properties over a long period of time if you know exactly what you want. Do you want 3 or 4 bedrooms? Do you want a brick home? Do you need side access to fit the boat in the backyard? What areas would you most like to live in? Do you need to be close to schools or public transport?
Solicitors
Before you sign a contract you should have a solicitor in mind of who you would like to use for the conveyancing of the property. A solicitor looks after all the legal requirements of the sale of the property. It is recommended to call up various local solicitors and ask about how much they charge for conveyancing. Alternatively ask your friends or family if they have used a solicitor and who would be best to use.
Property Inspections
Once you have found the property that you want to buy it is highly recommended to complete a building and pest inspection of the property to ensure that the property is in a reasonable state. When signing a contract you will be asked if you would like to conduct a building and pest inspection of the premises and then your contract (in most cases) will become subject to your approval of the results of these inspections. You are also able to conduct other inspections if you see fit such as electrical inspections or pool inspections.
Budget for fees
When buying property you not only need to think about how much the property costs but you also need to put in your budget other costs that come with purchasing a home. Here are a few of the costs that you need to consider: solicitors fees, building and pest inspections, stamp duty, tax, insurances, council fees, gas, water, electricity, body corporate fees and any maintenance that you may want to conduct.
For more information regarding buying a property please don’t hesitate to give us a call on (07) 49383 777.
Buying Tips
