Top tips for purchasing your home
Top tips for purchasing your home
It is the great Australian dream to be a homeowner. Well, if it is your dream there are many things to consider before purchasing your home or even an investment property. Pitfalls are just waiting to consume the inexperienced buyers and sellers and occasionally even the most experienced of real estate moguls can get caught out during the process, due to the complex Australian legal system and the laws surrounding it. Below we will discuss how to make purchasing your home as enjoyable and stress-free as possible.
Get the right team behind you
- Buyer’s Agent –In the current climate where houses are virtually flying off the market, it may be prudent to enlist the help of a Buyer's Agent. A Buyer’s Agent works for the buyer rather than the sales agent who is working for the Seller. Engaging a Buyer’s Agent with inside knowledge of the property market as well as the contacts within the industry might just be able to help you snare your dream home before it even hits the market.
- Building and Pest inspector – You wouldn't want to buy your dream home only to find that you are sharing it with unwanted guests or that there is serious structural damage hiding under the house. A great Building and Pest Inspector will ensure that no surprises pop up that could result in unwanted additional costs to have your dream home to the state of repair that it need be.
- Mortgage Broker – A reliable Mortgage Broker is a necessity when purchasing your home. Knowing that your Broker is working with you to deliver the best possible outcome is essential. The difference between a good and a great Broker could save you thousands of dollars over the life of your loan.
- Conveyancer/Property Solicitor – In Queensland, it is only a Property Solicitor with a team of conveyancers assisting, who can complete your conveyancing transaction. Finding the right Property Solicitor orCconveyancer can be the difference between a smooth purchase and a nightmare. An experienced Cconveyancer will steer you through all the red tape involved in purchasing your home and that settlement happens in a smooth and seamless transaction.
Know your budget
Establishing your budget is criticalin purchasing your home. With the help of your Mortgage Broker, you will be able to define the budget for your purchase without overextending yourself. It is imperative that you get the right advice here so that your life after the purchase isn’t hindered by a huge mortgage that you can’t service hanging over your head.
Buy with your head, not your heart
It can be very easy to get swept up in the process and emotion of buying your dream home. It is very important to remember to buy with your head, not your heart. You have already set your budget and you must be prepared to walk away if you can't get that the right price. Many people have fallen in love with a property and no matter the price or faults that may have been discovered in the building and pest report have purchased anyway. Not often does this end well, purchasing your home will be one of the biggest investments you will make so choose wisely and use your head.
Research the area
If you have engaged a Buyer’s Agent, you will be working in conjunction with them to research the area you are looking to buy in. There is no point in buying the best house in the suburb if the suburb is no good or has a bad reputation. If you have children, you may need to research school options and if, their are shops close by or do you require public transport? These are all important questions that will need answering before purchasing.
Don’t waste time
In the current market, you will need to be able to act fast. If you wait too long you might just miss out on your dream home. Having your finance in order and being able to negotiate quickly will be the difference between getting a contract accepted quickly and your new life beginning.
With the right team behind you, you can feel safe knowing that you are in control of the situation with the right guidance and expert advice. The team at QC Law are experts in the conveyancing and property area of law and haven't seen a situation that they haven't been able to handle. With their honest and reliable advice and,fixed fee service you could be moving into your dream home before you know it.
Contact the team from QC Law when you are looking at purchasing your next property on [email protected]