Buying a home may be the biggest financial decision you ever make so you need to be prepared.
Check here for useful information from NSW Department of Fair Trading to get you started.
You will need to know your budget and, if you need to borrow to purchase your dream property, obtaining pre approval from your financial institution can save time and make sure you are not disappointed later on. You may also be eligible for a Government grant or financial assistance.
Remember there will be additional costs over and above the purchase price of the property to factor in such as Stamp Duty (NSW Calculator)
Once you have the money sorted you’re now ready to start your research
Make a list of your preferred suburbs after taking into account your lifestyle, affordability and requirements regarding schools, shopping districts, transport etc. Once you know where you want to buy make sure you register with the local agent so you will be kept updated. At Reece Realty we make sure that prospective buyers on our property alert list receive an email before the new properties are listed on the internet giving you a head start on the rest of the buyers in the market.
Decide what is important to you – for example do you want a house with a backyard or a low maintenance unit or townhouse? Is a double garage a necessity or easy street access a must? Do you want something brand new with nothing to do or are you happy to buy a ‘fixer upper’. Thinking about these things will help you focus on getting the property that best suits you
Research recent sales in the area and make sure you attend as many open house inspections so you can build your knowledge on what you get for your money. Contact the local council to see infrastructure developments that are happening and what restrictions may be placed on property owners in the area.
Once you have found a property that ticks all the boxes don’t be scared to make an offer. Simply making an offer does not lock you in financially but it registers your interest officially. Having your offer accepted still does not commit you to buy but it is the beginning of the legal process of buying a home. To help you with this process we have attached some useful links as well as some e-books that will provide more detailed information.
Use the links throughout this page that can assist you with this process. See our E-books below for further helpful information.
