TIPS AND CHECKLISTS
Listed are some tips to help you choose your first home.
- KNOW THE NUMBERS
Before actually looking for a property, determine your actual financial capacity. Use our affordability and payment calculators to find out how much you can borrow. The figures will give you an idea about the types of homes available within your price range.
- EXAMINE THE VICINITY AND THE PROPERTY ITSELF
Knowing important facts like the area’s growth history over the years as well as the potential rental income of the property is important in making the best choice. The area’s local real estate agents would be a great source of information, not to mention they will be able to detail the history of the property you are interested in as well as its surroundings, giving you a clear picture of what you are purchasing.
- CONDUCT YOUR OWN INSPECTIONS
Conduct pest and building inspections. This will prevent you from spending more money fixing potential problems in the future. For older properties, check the floorboards. Are the roof and pipes leak free? Are there holes on the wall? Checking everything might be cumbersome, but then again, it’s worth the effort.
- READ AND UNDERSTAND THE CONTRACT
The contract of sale must be read by the conveyancer or solicitor. Are you satisfied with the contract terms? If not, feel free to ask for clarifications and make sure everything is in written agreement. We recommend you obtain legal advice before signing any contract.
- NEGOTIATE
Price negotiations are tricky since sellers look to get the best monetary value for their properties while buyers aim to get the lowest prices. Generally, sellers expect lower offers from potential buyers. At the end, both parties often meet halfway.
Cash Back Mortgage simplifies the process of buying your First Home.
Call us for your FREE First Home Buyers E-book on 1300 640 988
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