| Buying The Basics The process of buying can be an unnecessarily difficult task, unless you understand the basics, in particular when there is a lack of property in the market place. One of the keys to a successful purchase is your strategy around doing so! Have you planned your time, are you patient and flexible, do you have some knowledge or experience behind you? Most importantly, do you have pre-approval for finance in place yet? Click Here to request a FINANCE QUOTE! Good questions to ask before you start the exercise! We can help with most of these, however the rest is up to you!
You need to do some homework firstly, arrange the finances required to finalise how much you can spend, following that decide where you want to purchase, the size of the property you require, style i.e. period home, apartment, or townhouse. It is a good idea also to inspect as many homes as possible and follow up auction results of those you have inspected. Only then will you get a reasonable feel for the current marketplace. Remember, understanding value is not a science as some people think, having a basic idea of value is all you need initially! Then, speak with Clements Estate Agents and we will get your strategy fine tuned for you!
In addition to your deposit, a good rule of thumb for buying costs is to factor in approximately $5000 for every one hundred thousand dollars you spend. This is higher if you have mortgage insurance and you are spending over $1,000,000. Remember; don't set your expectations too high based on unrealistic images portrayed by some of these lifestyle programs. Don’t forget, buy within your means and research the market, get help and factor a slight premium to be successful in this climate! |