Nothing is more exciting then purchasing a house; whether it be buying your first home, upgrading, downsizing or even stepping into the investment market. It is easy to become caught up in the highs, lows and whirlwind of purchasing. Here are some tips that may just help you through the process:
Don’t fall in love with the decor
The decor in any home can be changed for a fraction of the purchase price. Remember you are buying the home not the belongings inside it.
Don’t be fooled by a home’s presentation
Homes that look a little un-loved are often the best bargains.
Renovations can go either way!
If the prospective property needs renovating to suit your needs, check the renovation price before you buy. A coat of paint can be quite inexpensive, but it could end up being a lot more then you think!
Location is paramount
The value of any property is based more on location than any other factor.
You can’t beat the beach
Coastal locations consistently outperform other areas in respect to capital returns.
Check the land value
Homes depreciate in value, whereas land appreciates. Make sure that the value of the land is more than the value of the house.
Make a realistic offer
Un-realistic offers are very rarely accepted and can frustrate an owner.
Minimise your conditions
Sellers don’t like Condition of Sale. Stick to placing the essential conditions only.
Make sure your Offer to Purchase is in the right name
The Offer to Purchase is legally a Sale Contract. If you want to change the purchaser details you might have to pay extra in Stamp Duty.