Settlements Agents and Buying a House
Buying a house is a big step, and definitely not one to be taken lightly. Perhaps you know exactly what you want from your property: an investment, first home, anything. But there are others who just don’t know where to begin.
First, really, you need to begin with the basics. Are you eligible to buy in Australia? Are your finance plans in order for buying?
Make sure you have a plan for your loan, or the money to buy, and also check to see if you are eligible for the first home owners grant (this could save you $7 000 on your repayments). Also, having a plan before you buy is a significant advantage. This can help you to repay your mortgage faster, and help you to save money. Also, make sure you have some extra savings stored away for just in case, especially if you aren’t getting a fixed interest rate loan.
Now, do your homework. Start looking, even if you aren’t planning on buying right away. The ‘right house’ won’t just fall from the sky. Get a feel for what is on the market at current and what you might be interested in buying. Especially finding out whereabouts you want to buy, as this narrows down the search a whole lot.
Contacting a real estate agent is also a good choice here. They can have a chat with you about what you want from your house and may even have a perfect one nestled away that you haven’t yet seen.
When you start looking at homes you might like, make a list of what it is you like about them. This can really help you to help your agent understand what you’re looking for. Also, look at open houses. Even if they seem bad, check them out, and take photos while you’re there. This can act as another checklist for your agent, if you like.
If you can’t find a house you really like, there are a few things that can help you. Perhaps widen your search – not everyone can get a house in their ideal area. Also, no house you buy (especially if you didn’t build it) is going to live to your standards. There will always be walls that need a lick of paint, or some minor and easy DIY fixes that need to be done. Another option is to buy smaller than you were originally intending. This may not be ideal for some circumstances, but you can always buy bigger later – or expand.
There are many, many methods of buying a house – but knowing what you want and then getting that is very rare. You must be willing to make compromises, and save extra cash, because you never know what will eventuate.
By beginning with the basics, you aren’t throwing yourself in the deep-end, especially if you aren’t in desperate need for a house. Once you decide this, the search gets a whole lot easier. A plan is really all you need to begin with.