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Chambers Fleming Padstow

2 Faraday Road Padstow

02 9771 4555

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Tips for Property Buyers

18 Apr 2012 Padstow 0 Comment

A lot of first time property buyers, or even experienced ones for that matter, don’t always consider all of the necessary factors when they decide to buy property.

I’m often faced with questions that are easily answered with a bit of online research, and though I don’t mind answering questions, I thought by providing some food for thought, property buyers might be able to better educate themselves before they dive into the property market head first.

Tip 1 – Know what you can afford to spend or borrow. Do you have a deposit saved? Have you pre-arranged your finance? Have you factored in for interest rate rises? Do you know about good and bad debt?

Tip 2 – List your property needs and wants, and search for properties matching your needs criteria first, then shortlist them based on the extra wants criteria that they match. This will narrow your search range, and give you a good idea of what you can expect to pay for the property you’re looking for.

Tip 3 – Keep your communication lines open with agents. Let them know if you’re interested in a property. Housing supply is low in some areas, so it’s a competitive market amongst buyers. If you have everything ready before you find the right house, you’ll have an advantage over those buyers that don’t have their finances and requirements in order.

Tip 4 – There’s a lot to think about when you’re moving too, so make sure you’ve considered what you’re going to do. Are you renting now? Do you have to give vacating notice? Are you selling? Have you thought about putting your property up for sale or rent?

Hopefully these tips give you some things to think about when you’re looking to buy property, and maybe give you that competitive edge over other buyers in the market.

Happy house hunting!

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