Things you should know when buying your first home

Get your funds together first

It is always smart to confirm how much you can borrow before you go looking to buy your home. You should also keep in mind the additional ongoing expenses that you will need to address when owning a home such as rates, insurance etc.

Have a list

It is important to look around at various house styles that you can afford, if you have selected a specific suburb to live in. It can be unsatisfactory if the house style you have in mind is not within your confirmed and approved price range.

Otherwise, you may need to choose a some other suburb but still consider your needs of shopping, transport, schools etc. It helps to make a list of what is incumbent for you in a home and what would be a bonus.

Keep Cool

Often Home Buyers pressure themselves into purchasing something because they feel that they have waited for too long or that someone else may also be forthcoming to buy that same house.

Buying a home is an important financial decision. If a property doesn’t have something that you need, say an extra bedroom for your new baby, then don’t buy the property. Look at why it has taken you so long to find something; you may need to reevaluate your criteria for choosing a home.

Buying the first Home you See

Real Estate agents often report how they have shown a buyer dozens of homes but it is frequently the first home that the buyer saw (and really liked) that they ended up purchasing. Real estate agents are good at understanding what it is you are looking for and will do their fullest to select for you those households that most closely match your needs.

Do not think that you have to see dozens of dwellings to be confident; if the first place you see suits you and you like it, then purchase it. You may miss out if you prefer to look at many homes before deciding.

Ask

Home Buyers frequently try to ‘go it alone’ and not ask real estate agents for their assistance. But remember, agents are there to help you discover what you’re looking for, they do not want to sell you something that you would not be happy with because unhappy customers are bad for business. Ask agents questions to get as much information as you need to buy a home.

Be Sure

Overlooking possible future troubles can be an issue for first time buyers who are not familiar with building construction. It is frequently a great idea to get a building review fulfilled by a registered and qualified tradesperson, particularly if you are in doubt about any structural factors.

It is your Decision

Home Buyers often feel that they need ‘approval’ from their parents or friends before making the final decision. Remember it is your judgment that matters most; you will be the one living there.

See Clearly

Do not judge a dwelling by the furnishings and style that are in place. Imagine your own furnishings in place to clearly project and highlight the benefits of the good floor plan of the home.


Consider Auctions

Do not avoid homes that are for auction because you are unfamiliar with the process. Ask your broker to explain the auction sale arrangement to you; it is a very controlled and fair process.

Try going to several auctions at which you are not going to bid and be an observer. When you decide to attend an auction to bid for a house, then ask the agent to assist you. They will help you to feel comfortable with the process.


There is more than one right home

Getting attached to your dream home can be a cause of distress/frustration. You see it, you’ve got to have it, and then it’s sold to someone else with more money. It is possible that your offer may not be accepted or that someone else may bid higher than you at the auction.

The good news is there is invariably another dwelling and while you may not consider it at the time, there really is another house that will suit your demands, and probably become your dream place.

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