02 6687 2479

Buying Tips

Set Your Budget

Establish a realistic budget and determine how much you can borrow and afford to repay.  Research recent sales and the price of properties on the market to obtain an indication of property values and a better understanding of the market.  Consider consulting with a financial advisor who will be able to guide you and provide a range of options which may suit your individual circumstances.

Establishing a Clear Vision

 Developing a clear vision will help you to discover what you are looking for.  Determining the ideal location, the type of property sought after and compiling a list of key property features in order of preference will be beneficial when determining the perfect property for you.

Location

Location is paramount, because you or your tenants will ultimately have to live there.  Spend some time researching the area and the nearby local facilities including shopping centres,  schools,  medical facilities, proximity to transport,  recreation and other amenities important to you and your family.  If possible seek to meet the neighbours and spend some time walking around the neighbourhood to really get a feel for the area.
Be aware that location may add significant value to your property.  In addition make sure to be on the lookout for any future development plans which may affect the property’s value or your quality of life.

Type of Property

Determine which type of property best suits your needs.  Are you after a free standing home,  a terrace, townhouse or a unit?  Or do you want to build?  Will you live in the property or do you wish to purchase the property as an investment?

Property Features

Develop a short list of requirements that best suit your needs and wants.  Particularly consider the maintenance and upkeep required to keep the property looking its best and in good condition.

For guidance ask yourself the following questions:
1. How many bedrooms and bathrooms do you need?
2. Would you like a new or established home? 
3. Would you like to renovate?
4. Would you like a large or small backyard?
5. Would you like a garden or acreage?
6. Do you need a carport or garage?
7. Would you like a pool? Or space to build a pool?
8. Are stairs suitable for your needs?

If you are purchasing an investment property,  it is also vital to consider the needs of potential tenants.  It is also a good idea to speak to one of our agents to find out the types of properties and property features that gain the highest returns.

Arranging Pre-Approval & Finance

To avoid disappointment seek to have your finance pre-approved before making an offer on a property.  This will provide you with piece of mind and will also greatly assist in the smooth purchase of your perfect property.

Agent Meeting

You are welcome to arrange a time to come in and speak with one of our agents to let us know what you are looking for.  We will be able to help guide you in your search by providing advanced notice of upcoming listings and email notifications of available properties.  We will also be able to arrange inspection times to suit your needs.

Contract

When you find the property you are interested in ask the agent to send or email a copy of the sale contract to your solicitor or conveyancer.  They will advise you of any issues you may need to consider before purchasing the property.

Building & Pest Inspection 

It is a good idea to seek a pest and building report before seeking to purchase the property.  This will make you aware of any hidden structural problems or pest issues,  which may need to be addressed.

Making an Offer on the Property

In order to make an offer on the property please advise your agent who will then negotiate the final sale price between you and the vendor.  Once your offer has been accepted an exchange of contracts will be organised.   A standard cooling off period of 5 days applies,  unless otherwise stipulated.

Buying at Auction

If buying a property at an auction ensure to arrive early,  bring appropriate identification and make sure to register as a bidder before the auction begins.  You may organise for someone to bid on your behalf provided they have a bidding authority form signed by you.  Generally a 10% deposit is required should you be the successful bidder.  If the property fails to reach reserve,  the highest bidder normally has first right of negotiation for the property.

 Your Deposit

Generally a 10% deposit is required from you before or on the exchange of contracts.  Your deposit is then held in the agency trust account pending final settlement of the sale of the property.

Exchange Contracts

The vendor of the property will sign their sale contract and the solicitor/conveyancer will arrange to exchange the contracts.  Usually the final settlement of the property takes around 6 weeks,  however in some circumstances this may be negotiable.

Inspection Prior to Settlement

It is highly recommended for you to undertake a pre-settlement inspection of the property before the final exchange of contracts.  This will protect your interests by allowing you to ensure that the property is in the same condition as when you agreed to buy it and that all the inclusions meet the final contract specifications.

Collecting the Keys

Once our agency has been notified that your settlement has been finalised,  we will arrange a time for you to come in to pick up the keys to your new property.