Buying your first home is an exciting time, but it’s also a time when it’s easy to make mistakes and let your heart and emotions overrule clear decision-making. To help you avoid some of the most common pitfalls, I’ve put together this checklist of things to keep in mind when you’re ready to enter the world of home ownership and begin viewing properties. By following these tips, you’ll be in a much better position to find the perfect first home.
Consider the location
One of the most important factors to consider when buying a property is its location. You need to think about things like the surrounding area, public transportation, schools, and noise levels. If you’re looking for a property in the city, you might be willing to sacrifice some yard space for a shorter commute. But if you’re looking for a property in the suburbs, you might be more concerned with things like land size and neighbourhood. It’s important to figure out what your priorities are so that you can narrow down your search to properties that are located in areas that meet your needs.
Inside the Property: Things to Check
Once you’ve found a few properties that are listed in the areas you’re considering, it’s time to start taking a closer look at them. When you’re inside the property, there are a few things that you should pay attention to:
– the condition of the walls, ceilings, floors, and windows
– the condition of the appliances
– whether or not there is enough storage space or if more could be easily added
– whether or not there is natural light
– any signs of water damage
– any signs of pests
If you’re worried about anything that you see, be sure to ask the real estate agent. They should be able to give you more information about the condition of the property and whether or not any repairs have been made recently. And if they can’t answer your questions to your satisfaction, trust your gut and move on to another property.
Outside the Property: Things To Check
Once you’ve checked off all of the boxes on your indoor checklist, it’s time to take a walk outside. Here are some external things that you should look for:
– the condition of the roof
– the condition of the gutters
– the condition of the doors and windows
– the condition of external timber and or bricks
– any potential safety hazards
If everything looks good from an exterior perspective, congratulations! You may have found yourself a winner! But if something doesn’t seem quite right, don’t hesitate to ask questions or move on to another property. Better safe than sorry!
Doing Your Homework Before Making an Offer
Once you’ve found a property that ticks all of your boxes, it’s time to do your homework before making an offer. This means getting a loan pre-approval from a bank or mortgage lender so that you know exactly how much money you have available to spend. It also means taking a close look at comparable properties in the area so that you have an idea of what similar homes are selling for. With this information in hand, you’ll be in a much better position to negotiate with the seller and get yourself a great deal on your first home! At Grow Financial Solutions, we love helping first-home buyers get into the property market. We’re happy to answer any questions you’ve got, and we’ll work to get the best loan product for you. Call today on 0468 455 685 to get started.