Planning to buy property? There are some things you can do to ensure that when you find your dream home you are ready to buy. In the words of Earl Nightingale "All you need is the plan, the road map and the courage to press onto your destination". So with a plan and courage in hand, the following tips should help you successfully achieve your vision for your next purchase.
- Firstly you’ll need to have saved your deposit, consulted a mortgage broker or bank and made sure you can afford the monthly repayments on your proposed property loan.
- You’re half way there when you've prepared yourself mentally. This means you’re prepared to move on from your current home or from being a renter and the flexibility that has given you, or you’re ready to invest in property and accept the responsibilities and concerns of becoming a landlord.
- Know your area. Be sure to have properly considered where you can afford to buy and the standard of property your budget will stretch to. Research the recent sales in the suburb/s you want to buy in and feel confident you understand fair property values.
- It's a significant life decision you're making so carefully weigh the benefits and disadvantages of buying property and the impact it will have on your current life situation.
- Once you find your ideal property make sure you’ve received legal advice or at least had a Conveyancer inspect the Contract of Sale. You can also carry out a building and pest inspection that is to your satisfaction, if needed.
- Finally you know you’re ready to buy when you're prepared to accept your obligations as a home owner. That is, you'll contribute your share to maintenance in a strata plan or share costs of replacing fences and you're ready to do what is needed to maintain or even improve the home and its garden.
We're excited for you and your journey to owning your next home. Remember we're here to help you along the way.