Buying a home is the biggest financial commitment we usually make in our lives. Therefore before you step out to look at homes for sale – there are a few things to consider;
- What can I afford? Understanding how much a financial institution will lend you is an important first step to establish where you can afford to buy.
- What are the current market conditions? Having a sound understanding of current market conditions overall as well as within your local area can arm you with the knowledge about the offer / bid you will need to make to secure the property
of interest. For example in a tight market in a highly sought after area, it sometimes pays to offer just that little bit extra to ensure you don’t miss out on losing your dream home to the highest bidder.
- Understand the methods of sale – Auctions and private sale / treaty are the most common methods of sale and it is important to understand both your rights and obligations when buying via a certain method.
- Finally it is important to shop around, finding the right property to buy amongst the sea of homes for sale
does take time and patience and it is recommended that you don’t rush in and buy the first thing you see – in case you regret the decision down the track.