Buying your first home is a big step. With everything you have to think about and prepare for, it’s quite easy to become overwhelmed by the process. The good thing is that there’s a lot of advice out there from experts, professionals and people like you that can help you navigate this daunting commitment.
Buying your first home is a big step. With everything you have to think about and prepare for, it’s quite easy to become overwhelmed by the process. The good thing is that there's a lot of advice out there from experts, professionals and people like you that can help you navigate this daunting commitment.
Here are some tips to make sure you stay on track:
It's important you're clear about what you need from your first home – essential things you’re not willing to compromise and the nice-to-haves that you’d love but can live without. Go along to as many inspections as you can and think about how the homes on the market stack up against your needs and wants.
Ask yourself, do you need to rethink what you’re looking for, or do you just need to wait for the right place to come up? The more clarity you have about what it is that you’re looking for, the better equipped you’ll be to get the best possible first home for you and your family.
Write out a list of your needs and wants. Spending the time on putting pen to paper is an effective way of getting some clarity.
Patience is key. Don’t rush into buying a home without spending time really getting to understand the market. A lot of different factors affect the market, the time of year, the economy and changes to government policy can all have an impact.
Look through property listings to see how much different types of properties are selling for. Check the suburbs that you’re interested in and make sure to cover neighbouring areas as well.
You might be tempted to buy the first home you see, but sometimes it’s worth holding off until you understand more about the market so that you can make a better decision.
Go along to open auctions to get an understanding of how they work. Closed bidding is similar, but you won’t be able to get this first-hand experience – you’ll have to do your research online, talk to real estate agents and talk to people you know who have done it themselves. The more you understand about the process, the better prepared when the time is right to take the leap.
And don’t forget…
Once you’ve thought through your decision, conducted your research and have a better understanding on how buying a house works, you’re ready to make the most out of professional advice.
The same applies to buying your first investment property. Financial planners are a great way of getting all your finances in order before taking the leap but for a more comprehensive service you need to talk to property investment agents like Rosie & Rosie.
At Rosie & Rosie we believe investing in property should be easy and can help you navigate the market to buy the investment property that is right for you.