Buying a house for many will be the single most important purchase of their lives, we’re talking a significant amount of money to be spent on what is most likely to be the home you’ll live in for the rest of your life.
In today’s property market it is important to note that when you’re on the hunt for that “dream” home you’ve been contemplating on buying for the last 1,2 or even 3 years, you start your search armed and ready to make the right decisions when the going actually starts going.
Having dealt with thousands of clients over the years, we figured the below are some pertinent points to keep in mind when you’re looking to buy:
Research, research, research
The internet and social media are your friends. Most builders, property developers and real estate agents have websites and social pages outlining their services and offerings. All the good one’s will also provide continual posts, testimonials and specific offerings targeting various segments in the market. There’s also a plethora of information available online educating home buyers on the do’s and don’ts.
Find which one best suits your situation. Also get in touch with more than one provider or agent. They say don’t put all your eggs in the one basket, and that notion rings ever so true when evaluating home purchasing.
Get your finances sorted
There’s nothing more disheartening than having a client renege close to tender acceptance on their dream home because they’ve come to the realisation they don’t have the requisite finances to fund the build. It’s akin to that feeling you get before you’re about to sneeze………and then the sneeze disappears – tragic.
Banks now offer 3 to 6 month finance pre-approvals enabling buyers to hit the market knowing exactly how much they have in their pocket to spend. This also serves as an excellent way of price segmenting the market and ruling out options that are either to low or high priced for you.
Check out land estates and releases
Sydney in particular has thriving new communities being built throughout, particularly in the South-West and North-West corridors. If you’re looking to buy a house with a bit more room at reasonable prices, check them out. You can find some excellent House and Land package deals available online or at our site:
Get in early
Although there is talk of a slowing market in Sydney, we’re still operating in a demand centric market. Whether you’re looking at pre-existing housing, off the plan or house and land packages, it always pays to get in early. With house and land packages and off the plan purchases, getting in at first release can save you up to 25% – 35% off final release prices. That’s potentially between 100-200k on some houses. And with pre-existing, it may give you the opportunity to put a bid in before auction and save the hassle of both parties heading down that track.
Shop around for homes and builders
Just think about when you go shopping for your favourites shoes, cars or even groceries – seldom do you just go to the one outlet to purchase. You generally go to a number of stores establishing the best deal for your needs. Home buying is no different, check out a number of builders or homes to see which has the best offering for your needs. Whether it’s additional room for a family to grow into, an entertainers enclave or downsizing there’s always more than one solution out there for you.
Don’t let it consume you
One thing we’ve experienced in our years of trading is that we recognise it’s an extremely important decision in your lives, but don’t let the stress or the prospect of buying the “ït” home consume you. It can be detrimental to your health and can sometimes lead to poor decisions. When the opportunity comes, make a list of important aspects you want to see in your home and differentiate between the need to have’s and the nice to have’s. Try not to deviate to much from it and if you have to, seek advice to help justify the change.
As authored by our very own Steve Hadfield, Sales Manager. Steve has extensive experience working within the industry for over twenty years across a variety of home builders and construction companies.