5 IMPORTANT POINTS TO CONSIDER BEFORE BUYING A PROPERTY
When you buy a new home, you’re not just purchasing a property but a whole lifestyle. On top of that, it’s probably going to be the biggest purchase you’ll ever make, so it’s no
wonder it can feel a little daunting.
But it doesn’t have to be that way. Here are 5 simple tips that will help you make your way through the home buying process with ease.
1. Work out what you can afford
When you’ve decided you’re serious about finding a new home, get on the phone to your lender and work out exactly how much you can afford. Then, once you’re clear on your budget, you’ll be ready to take the first step.
2. Do your own research
When you start looking for your new home, it’s important to put other people’s ideas aside and start thinking about what’s right for you and your family.
First, do some research on median house prices in your dream area. Websites such as
CoreLogic can help you with this. They’ll provide all sorts of information about your area of interest, including historical data and information on supply and demand.
Once you have this information to hand, feel free to check in with us, and we’ll let you know what listings we have for sale in the area and what’s coming on the market in the weeks ahead.
We can also provide you with a complimentary Comparative Market Analysis (CMA). This report will list the price of recently sold properties in the area you’re interested in, so you can get a clear idea of the true cost of properties in the neighbourhood.
3. Location, location, location.
Location is one of the most important factors in your decision-making process.
That’s because you can renovate or improve a property, but if the location doesn’t offer a good lifestyle, lacks character, or doesn’t have any decent amenities, it won’t attract a high level of capital growth in the long term.
If you’re not sure which area is best for you and your family, make a list of what’s important to you, such as distance to schools, shops, public transport, and your workplace. Next, identify the suburbs that offer the lifestyle you’re looking for. And if you live close by, visit the suburb, grab a coffee at a local café and watch the world go by. That way, you’ll get a real sense of the area, and you’ll be able to decide if it’s a location that could be the right fit for your family.
4. Choosing the right property
There are many things to consider when deciding on the right property to suit your lifestyle.
First, jot down what you think you need, such as the number of bedrooms, office space,
parents’ retreat, or a family entertaining area. Second, ask yourself if you need a property with development opportunities so you can add additional rooms at a later date.
Write your list in order of priority, so you can work out what’s most important to you. This is a simple step, but it’s crucial in helping you find the right property. And make sure you take the list with you when you start viewing properties.
5. Talk to the experts
When the time comes to select a real estate agent, you need someone who has a wealth of experience, expert knowledge of the area and your best interests at heart.
At Ed Silk Byron Bay, we have more than 30-years of experience helping people find their perfect home. So, if you’d like us to help you find yours, please get in touch, and we can start the ball rolling.
Find your next property with Ed Silk Byron Bay. Call Ed today on 0418 660 063
