Buying your home is an important event. For some people it’s the biggest financial event of their lives. For this reason it is important to consider the following points.
Check out the area you are considering buying in. Does it have the infrastructure you require? Things like schools, public transport, shops etc. Make sure you really do want to live in that area. Often you can buy a better home at a cheaper price in a different area. AREA vs PRICE – It’s a big decision.
If you are borrowing money, make sure you shop around for the best possible rate & conditions. And be financially safe, do not stretch yourself financially or emotionally. There is nothing worse than worrying if you can afford to pay the next mortgage payment.
BRING YOUR PARTNER
Buying a home is often a joint decision. Include your partner at every step and you’ll reduce the chance of being frustrated when one person likes something and the other doesn’t.
BRING YOUR CHEQUE BOOK
When you are ready to buy & inspect homes, take along a cheque book or deposit in case you see something you like. This does not mean you have to buy it just means you are ready to buy. When else do you go shopping without taking your wallet or purse?
Know the highest price you are prepared to pay. To buy the right home you should be the buyer who is prepared & able to pay the best price for that home at that time.
Do not be mislead when a property is listed with a price range. Showing a low price can be used to bait you & get you interested in a property you can’t afford. However please understand that agents are not the owners of the homes and sometimes they sell for MORE than the asking price. This can happen when two or more buyers wish to buy at the asking price.
There are two general ways in which to inspect a home. A PRIVATE inspection when an appointment is made that suits both the vendor & purchaser or OPEN inspections when the property is open to anybody at a time set by the vendor.
This is when someone offers a higher price than you and buys the home without you being given the chance to re-consider the price you wish to pay. Up until a legally binding contract has been signed, Real Estate Agents are required by law to submit all offers to vendors and it is their decision which offer they accept. To avoid disappointment & after establishing your financial ability, consider offering your highest price first.
Please understand that the best homes sell readily, usually within the first month of being offered for sale. It can therefore be in your best interests, and to avoid being “gazumped”, to make your BEST offer for the home you want. The years of happiness you enjoy in your dream home could well out way the hassle of haggling & the risk you take of losing the home you have been searching for.
THE HOME YOU WANT
If your highest price is acceptable to the owners you will most likely be able to buy the home. HOWEVER until such time as the owners have signed a legally binding contract, you cannot be certain that the home is “yours”
Always seek independent legal and professional advice on all aspects of buying a home. The cost of a good solicitor and a good building inspector can represent excellent value for what may be your biggest ever financial investment.
Fox’s Real Estate have copies of a great booklet titled “Buying Your Home” which we have to GIVE AWAY to anyone ready to buy a home.
Please call us on 07 55323333 or email email@example.com to receive your FREE copy.