Buying Your New Home
Create a household budget to help determine manageable loan repayments. Be prepared for "hidden" costs of purchase including solicitor's/conveyancer’s fees, building inspections and stamp duty.
Your mortgage provider will advise how much you can borrow. It's important to have your finance in order before you start looking to avoid disappointment. Request a letter of approval from your lender, which can be required at auction.
Make a detailed list of all your requirements including location, size and features. The more specific your list the more refined your search will be, saving you valuable time and energy. Prioritise your list as this will help better qualify your choices.
Ask us for a list of recent sales in your preferred area. We can also provide valuable locality information including schools and facilities. Try to attend inspections and auctions in your area to get a feel for the market.
Once you've found your ideal home, we recommend you arrange a building & pest inspection. This helps ensure you don't inherit costly repairs.
Once you've found your property, you may decide to pay the asking price or make an offer, dependant on your opinion of its value. Ask your agent to send a copy of the contract of sale to your solicitors. Remember, the agent is acting in the best interests of the vendor, so if you're making an offer less than the asking price, you may risk losing the property. Once an agreed price is reached, it is usually best to exchange contracts as soon as possible.