While A-List Property Group are here to help you extensively in your path to finding the right property, it is ultimately up to you what you require in your ideal home. Below, we have listed some of the basic things that you need to know before delving into the market.
PRIORITISE WHAT YOU WANT IN A LOCATION:
Research extensively on the demographics, amenities, accessibility, and value of the location you want to buy in.
Some of the things you may consider are:
- Proximity to amenities such as schools, shopping centres, gyms, restaurants, Universities.
- Public transport within the area such as buses, trains & free shuttle services
- Leisure activities such as parks, sporting fields/facilities, walking tracks, lakes, beaches
Knowing these things can help with your decision on which suburb to buy in. For example, if you have a young family, you might be looking for somewhere quieter, with schools and parks close by.
The location that adds value to your property when buying will also mean it will add value when it is time for you to sell.
INSPECT THE PROPERTIES:
Walking through as many Open Homes as possible is an important part of the buying process. This will educate you on the current market conditions, recent sales in the area, but also provide factual reasons for why properties sell for the price they do.
For example, when looking at properties on the internet, it is hard to determine the actual size of the home and quality of finish, however when inspecting the property in person, it will be obvious to you if the home is above or below average size and a high-quality finish or not.
Make sure to speak with your bank or a mortgage broker on the amount you can borrow before you start actively looking. This will help guide you in the right direction for which areas and properties you can afford.
It will also put you in a better position when making an offer, as you will be pre/financed approved. Know what your limit is and have a 5% or 10% deposit ready, generally this is the bare minimum, especially when buying at an Auction. At an Auction, you are required to pay a 10% deposit on the day if your successful, unless you have negotiated otherwise.
When you find a property that fits your needs and requirements, it is now time to engage with a solicitor or conveyancer to review the contract of sale. They will review everything including zoning certificates, Inclusions and exclusions, settlement date, sale price, any special conditions, sewer diagrams, title search etc. Also at this time, it would be good to engage with building inspector or for you to review the strata report, if the property is a part of a strata scheme.