Buying your new dream home? What do you need to do before going to Market

A quick search on Google will show you different lists of what to do before you buy your new dream home. This article will tell you what we suggest you do before taking these steps.

  • Research the area
    Visit different websites to find out general information about the area you want to move to. Some suggestions would be the official tourism website for the town or area. Port Stephens has 26 beaches in the area, making it an ideal location for a sea-change. In conjunction with the Great Lakes Marine Park, the area boasts some of the most beautiful scenery for fishing, bush walking, adventures, swimming, surfing, and many more outdoor activities. It is also an idea location for just relaxing and enjoying life, allowing you to take time out and just enjoy the peacefulness. The Visit NSW: Port Stephens website has so much more interesting information about the area. Although targeted at visitors, it gives potential buyers the ability to find out more about what the area has to offer.
  • Find out about the house
    If possible, research the history of the house. Ask the neighbours, and local community if they know any details of the post history of the house. It is always best to find out what you’re in for before you purchase than experience problems later.
  • Affordability
    Decide on your budget and stick to it. It might even be an idea to stick to a certain percentage under your budget. Many vendors will look at offers below the requested price and engage in negotiations. Keep in mind as well, that banks are willing to lend a ridiculous amount of money, do not fall into any traps; only borrow what you logically know you can afford to pay back. Take into consideration mortgage repayments, percentage rates, and the years you are locked into that mortgage and payment rate. Regarding deposits, experts suggest that saving up for a 20% deposit of the purchase price is ideal.
  • Always remain logical
    If a purchase price seems too good to be true, it probably is too good to be true. Ask questions. Additionally, don’t feel obligated to continue negotiations if you feel you are getting a bad deal. Negotiate as much as possible, stay in control and think with your head, not your heart. Don’t allow anyone to pressure you into proceeding if you’re not ready. If you are feeling rushed or pressured, take a step back, breathe, regroup and keep your own best interests in mind.
  • Do not over extend yourself
    Only buy the kind of property you can manage. For example, if you’re not a gardener or green thumb, it may be best to avoid a property with a big yard if you’re not going to be able to maintain upkeep. Another example would be if you do not enjoy taking the stairs or physically cannot use them repeatedly, don’t purchase a home that is more than one level.
  • Finding your new home takes time
    Remember to be mindful that finding your new home will most likely take some time. Do not rush the process and end up purchasing something you won’t be happy with. Do not let time restraints push you into a corner. If you’re renting, try to stay on a month to month contract so that you can take your time looking at properties until you find the one for you.
  • Insurance
    Once your offer is accepted, purchase house insurance. This will cover you from the moment your offer is accepted, even though settlement may take some time, you want to be sure that you are covered for any damage that may occur in the interim. Your solicitor or conveyancer can offer the best advice regarding this.

Please keep in mind that these are just a few suggestions for your property hunt journey. Our staff are always on hand to ask questions and provide you with their professional advice. Do not be afraid to ask us questions, we are more than happy to help guide you through this exciting time. For further information, give us a call on 02 4982 2726.

Thanks for reading!

Degotardi Properties

Comments are closed.