Things to consider when buying a property
-
Know your budget
Don't extend beyond your limit and have nothing left for emergencies. -
Don't give in to undue pressure
Be aware agents often want you to sign a contract without legal advice, especially out of business hours or on weekends. -
Seek experience first
As a first home buyer, make sure you seek someone experienced and able to assist you at inspections.
-
Do your research
Know the area you are buying in, check other recent sales, and get a feel for the market. -
Be cautious
Always be aware the agent is acting for the seller – so caution is required if you are inexperienced. Friends or relatives who are trade qualified can also be of great assistance to assess possible hidden expenses you may miss. Don't be afraid to get extra advice before signing. -
Be realistic
Beware of making ridiculously low offers if you like the property. It makes sellers more resistant to negotiation, and most often, the purchase attempt fails. Buyers learn very quickly that this strategy doesn’t work.