“The question around fixing really comes down to your personal circumstances. For instance, if you're planning to buy and hold and just keep the...
Purchasing property can be exciting, however after purchase it is easy to forget that the process has only just begun.
It is important to understand each step and make sure that you have covered all the bases so you can all enjoy your new purchase without undue stress.
We can help from pre-approval through to final settlement – taking the stress out of the process and helping your find the right loan for you.
You’ve probably heard the old real estate joke about “location, location, location,” but the point still bears repeating. Location is crucial. How far are you really willing to travel to your place of employment? How good are the local schools, shopping centres, public transport and other public facilities? Why would a renter want to live in this area, what makes it attractive, is it a safe area?
Do you (and your partner) really know what you need and want in your home? You’ll save yourself many hours of looking if you make a list ahead of time. Focus in on the features you must have, would like to have, definitely don’t want and would prefer not to have. Tip: Start compiling your wish list by thinking about what you like and dislike about your current home. It is a good strategy to create this list it can take the emotion out of buying a home, this is harder said then done.
Not long ago, consumers had very little access to information about recent home sales prices, market trends, houses for sale, suburb statistics and the home-buying process. Today, all this information and more is readily available on the Web. Check out the links page. There are many statistics quoted by property experts. Rolf de Roos believes there is a 100:10:3:1 rule, which translates to, if you look at 100 properties, you will put offers on 10 and try to arrange finance for 3 and you may end up buying 1. Be prepared for disappointment but the more you know the market the better chance in reducing these statistics.
This means you know with confidence what price range you should be researching. The maximum borrowing capacity may be much more than you think.
Finding the perfect property can take a long time, you will forget the properties you have seen. It will result in a conversation that will go something like this:- Her: Remember the one with the blue bathroom? Him: Did that one have the double garage and spa out the back? Rather than relying on memory, make notes about the homes you visit and if the agents let you take photos. Write up each property when you get home, you will forget especially if you look at ten properties every Saturday. Simplify this, after a day running around the last thing you want to do is spend hours writing it up, this may be as simple as sticking the advertisement from the newspaper to a copy of your personalized wishlist with the features you like ticked off.
Be prepared to make an offer, the agent has to present offers to the owners. It is a lot harder to say no to an offer with a cheque for 10% stapled to the front page of the contract. Even if they so no all you need to do is rip up the cheque, nothing lost lots to gain.
People buy houses every day and they have been doing it for thousands of years. Ask for help, advise or support, you are not the first to go through this stressful process and you will not be the last. Potentially you may also be one of those people who likes a challenge and after going through the buying a house stage you then decide to renovate it. Enjoy it because you will forget the pain and you will enjoy the gain for many years to come. Those at Investors Choice Mortgages have been through both of these processes many times. Come talk to us and we can help you through.