Buying with Angela Capitanio
Buying Your Own Home
Choosing the right home for you comes down to prioritising your needs and wants for your future property, knowing what you can afford and knowing exactly what’s on the market when you’re ready to buy. Once you have found your ideal property, there are a few more points you’ll need to know before purchasing.
Knowing What You Need
The type of home you buy should reflect the lifestyle you’re planning for the future. Listed below are some factors that should be considered.
- Where you want to live (preferred suburbs)
- Number of residents and how this may change
- The needs of each person and how they may change
- The local amenities required
- The length of time you expect to live in the home
- The features you require in the home in order of importance
- Prioritising is important because you’ll probably need to make some compromises.
Knowing What You Can Afford
This really comes down to how much money you have saved or have available as a deposit and how much you can afford in monthly repayments after all your other expenses have been taken into account.
Most lending bodies have strict guidelines concerning these issues and you’ll often find a great deal of variation in what’s offered in the way of home loans. You can approach the lending bodies individually or take advantage of RAY WHITE LOAN MARKET, which can save you time and money by finding the most suitable housing loan package on offer at no charge to you. Once you know your borrowing limit, you’re all set to take the next step…
Knowing What’s Available
You can now go into our Property Search to check out any of our current listings which may suit your requirements. If we don’t have what you want right now, please contact me on 0418 772 315 or alternatively send me an email to email@example.com with your requirements and we will ensure that you’ll be among the first to learn of a new listing – often well before the sign goes up or the first ads appear in the local newspaper publication.
So You’ve Found Your Ideal Property
The legal aspects of purchasing a home are often complex. We strongly recommend appointing a legal representative – either a solicitor or licensed conveyancer – to look after your legal rights with regards to your purchase.
Your next course of action depends on whether the property is for sale by private treaty or auction.
Your opinion of the value of the property and what you can afford to pay will influence whether you pay the asking price or decide to make an alternative offer. Once agreement is reached on price and other terms, it’s usually in everyone’s best interest to get the contracts exchanged as quickly as possible.
Sale by auction means that an immediate enforceable contract exists between the parties ‘on the fall of the hammer’. For this reason it is vital that you do your homework before bidding at Auction.
- Ensure that your loan is formally approved
- Set your upper price limit and stick to it
- Make sure your legal representative is happy with the contract
- Arrange any necessary building or pest inspections prior to the auction
- All parties to the contract must either sign the contract themselves or arrange for the proper authority to have someone sign on their behalf
- Make sure you have the 10% deposit available when signing
A Few Auction Tips
- If you’re not familiar with auction procedures, visit some auctions beforehand to help you learn the ropes and feel comfortable with the process
- Be aware that rival bidders may use different tactics to try to unsettle you
- Work out your own approach beforehand and, most importantly, don’t bid over your limit
You’ve Been Successful – What Now?
Most sales settle between four and six weeks after the date of exchange. Make sure that you’ve taken out the necessary property insurance, preferably from the date of exchange, just for safety. Your legal representative may recommend a pre-settlement inspection of the property to make sure that nothing associated with the property has been altered.
THE HOME IS NOW YOURS. CONGRATULATIONS!