Buying Tips

Buying a home is a very big financial investment – most likely the biggest one you will ever make, there are a few things that one should take into consideration before signing on that dotted line.

We have outlined a few points below to help make the buying process a little bit hassle free – we don’t dare think that we have covered everything just enough to put the wheels in motion so to speak.

·         Take the time to research the area that you intend on purchasing in.  Check out the facilities including schools, day-cares, public transport and any others that would be relevant to you and your family’s requirements.

 ·         If you decide or are thinking about purchasing a townhouse/unit please be aware that there will be extra costs involved with community living such as yearly Body Corporate fees, Sinking Fund etc.

 ·         Make sure you speak with your bank or financial lender in regards to what you can borrow – this way you will know your limitations and what properties you can afford – this saves you time in the end and you will also avoid disappointment.

 ·         You will need also to have funds allocated/available for legal fees (this will include Mortgage Insurance and documentation), stamp duty, removalist, security fees and connection fees for your home services (electricity, phone), home and contents insurance.

 ·         Building & Pest, Pool Inspections will cost between $400 - $600 depending on the size of the property.  These are recommended as they will provide reports for you to outline and briefly explain the current condition of the property.

 ·         Have a friendly chat with your local real estate agent in your area, source local newspapers and internet sites and gather information about the “going” price for similar properties in you sort after area and get a general feel for the market.

 ·         It is not recommended to purchase a property sight unseen – what you see in newspapers, flyers or on the internet might not be what you are purchasing.  If you are unable to inspect the property have a trusted friend or relative check it out for you.

 THE RIGHT PROPERTY FOR YOU

There are many styles/designs available in today’s market and how they work and fit in with your lifestyle will influence you on the type of home that you purchase.  An idea is to sit down and make a list of things that you “must have” in your new home.  Whether it be a certain amount of bedrooms/bathrooms, pool, entertaining area, car accommodation/shed these are the things that you should be able to mark off your list – the others features will just be a bonus for you.

 As we said earlier – buying a house is a huge financial investment, when buying you should be able to see yourself comfortable in your new home for years to come – a forward thinking attitude never goes astray.

SAFETY FEATURES/REQUIREMENTS

As of 1^st July 2007 it is a legal requirement to have smoke alarms fitted to ALL homes/units etc.

All homes built after July 2002 are required by law to have a safety switch installed on power and light circuits.  It is also a requirement which has been in since October 2002 for the purchaser to have a safety switch installed within 3 months of settlement if the property does not already have one.