Once you’ve made the decision to purchase a home, the fun begins! But, where to start? Here are a few tips that might help you along the way:
- What does your home look like to you? Double storey? Bedrooms? Bathrooms? Pool? View? Outdoor living? These are all the points you’ll need to work out before going any further.
- Establish your budget. You’ll need to work out how much can you afford versus how much you want to pay for your home – keeping in mind point 1!
- How much will you need for your deposit? Generally, banks require a 10-20% deposit and a healthy savings account before lending. A deposit over 20% also means you aren’t required to pay mortgage lenders insurance!
- Top 3 suburbs. Then, with everything in mind (points 1, 2 and 3), what are you top three suburbs that you want to live in?
- Negotiate! It’s time to come to an agreement between what the seller wants for their house, and how much you’re willing to pay for it.
- Building and pest inspections. You’ll need a qualified inspector to report on the structural soundness of your property and if there are any termites or maintenance issues that need attention.
- Find a conveyancer or solicitor. They will look after your best interests and provide advice where necessary. They will perform an array of searches for you like: main road searches, title searches, council searches, and a few others worth paying for your peace of mind. They will also coordinate the sale and be there for settlement