- Posted By Rebecca Bell
Don't just take our word for it - in part one, Australia’s leading experts in home buying share their top tips and pieces of advice to remember when buying your first home.
- Create a definite list of all of the things your property MUST have. Take this list with you when searching for homes. It’s easy to get swept away with features and renovations that you don’t really need.
- Establish where you can afford to buy by looking at the prices being asked for properties available for sale in different suburbs. This will quickly and efficiently provide you with a target list of suburbs to begin focusing on. The key is to get into the market, pay down your mortgage, and establish equity in your home as a basis for future financial options and flexibility. Once you have gained some equity, you’ll be able to think about upgrading to a suburb you would prefer to live in.
- When searching for your first home, I recommend looking for properties that you have the ability to add value to - even if you don’t plan on renovating for a while. If you invest in a property that you can add value to in the future, you are setting yourself up to be better off financially.
- Consider the property’s location – is it close to schools, shops, supermarkets and cafes? Transport – can you walk to a train station, tram or bus stop? Recreation – what leisure and recreation facilities are nearby? Medical – are you near a hospital or medical centres? Ensure that you investigate if there are new developments planned nearby such as road works, apartment blocks or shopping centres.