10 Tips to Purchase Property
Purchasing a property can be a challenge for many, with one thousand and one different things to consider. Simplicity sometimes goes unrecognised. Here are a few tips to assist when purchasing your next property:
- Budget – Work out your budget, how much you are prepared to purchase for and stick to it. It’s also helpful to calculate the weekly repayments based on what you are willing to spend – you might find the mortgage repayments are lower than weekly outgoing rent!
- Strategy – Profile the exact property that you’re after and go for it! Is it the worst house in the best street? A small unit in the city? Or a town house with a courtyard?
- Discipline – Ensure you only go and look at properties within your criteria – price range, number of bedrooms, location, etc.
- Location – Keep your property search limited to 2 or 3 suburbs.
- Research – Utilise online services such as RP Data or On The House to see if the property you’re interested in is worth as much as the asking price.
- Preparation – Once you’ve found a property that ticks all the boxes it’s time to put an offer on. Prior to making an offer decide how much you’d like to purchase the property for, be sure to stick the this number.
- Negotiation – Making offers that are jagged such as $652,300 gives the impress that the offer has been toughly considered and you’re less likely to have room for movement. Reducing building/pest, finance and settlement deadlines can also be appealing. Always be prepared to walk away from the table, knowing that there are plenty of other properties out that that will suit you.
Hunter Galloway is a leading boutique mortgage brokerage, we take the stress out of sorting finance.
P.s. if you’d like a property report at no cost (RP Data property reports are usually valued at $89.95) please sms 0410 000 689 with the property address and the email you’d like the report sent to.
Contact us today – Nathan Vecchio – 0410 000 689