Things to consider when buying a property
Buying a new home is an exciting time, but the process may feel overwhelming - particularly if you’re purchasing your first property.
Buying a property is a long-term investment and not a decision to be taken lightly. A number of factors need to be considered before you make your final decision. Before you call the highest bid at your first auction, have a long think about what you want.
Unlike the questionable décor, your property location is not something you are able to control or change once you have made your purchase.
This means that you will need to consider a number or practicalities. For example, is there sufficient street parking? How close is the property to transportation links? Are you within easy reach of convenience stores and motorway access? The requirements will vary with personal demands, but it is important to identify yours beforehand and ensure that they can be met.
Once you have determined the location where you would like to live, you will need to think about the type of property that suits you.
It is important to take both your current and medium-term situations into an account. For example, a young couple may want to plan ahead and purchase a bigger home if they are thinking about expanding their family. If this is the case, factors like local schools will also become an important consideration.
You may have a style of house in mind but be open to suggestion and practicality.
Alternatively, if you are purchasing an investment property you should do your research accordingly.
Financing your home
Once you have identified your perfect suburb and type of property, it is time to turn your thoughts to finance.
Evaluate the area and research comparative sales. Once you have a good idea of the average house price in your suburb of choice, you’ll need to plan a realistic budget.
Your Harveys agent will be able to provide you with valuable insights into the buying process and can help you research your options when it comes to practical property matters.