Purchasing property can be a very stressful and emotionally draining time. You can spend hours searching for the right property, attending open days and inspections, dealing with the realtor, meeting with the finance lender and you will have to make many decisions. All this will have to be done while you are trying to get on with your daily routine, whether it is work, looking after children or dealing with the multitude of things that day to day life brings. There are some simple strategies that can help ease the burden of emotional stress.
Choose a good real estate agent
The estate agent’s job is to sell a property for the vendor. However, to get the best sale, they will have to find a suitable buyer. It is important to find a good estate agent who is approachable, who will answer your questions honestly and who will communicate with you regularly.
Set yourself a monetary limit
Many buyers look for properties out of their financial reach. If you can’t afford it, don’t look at it. Set yourself a maximum buying price, but remember to take into account stamp duty, loan fees, insurance and legal fees. All these should be factored into your loan amount.
For peace of mind, once you have decided on a property, always obtain pest and building inspections. It is important that you not find any surprises after settlement. After the inspection is carried out, you will be given a detailed report. There are sure to be a few small issues, due to the age of the property. This report can also give you a bargaining tool. Best of all, you will go into purchasing your property knowing exactly what you are in for.
When entering the property market, research what properties are being sold for in the area you are looking to purchase. Attend open days and inspections to get an idea of what is being offered for sale. Also look at recent sales to see what properties have sold for.
Never rush into purchasing a property. If you miss out on one, another one will come along. Searching for the ideal property can be a long arduous process. It really can tire you out! Do as much looking online as you can and when you get down to a few options, organise a viewing with a real estate agent. Ask your lender up front for a list of all fees associated with your loan. Take time out to discuss things and do not feel pressured by anyone into making a quick decision.
It is easy to panic. After all, you are making a big financial and lifestyle commitment. You will find seeking expert advice is the best option to take. The right advice can take away guesswork and set you on the correct course. Searching for Home loans can be time consuming. It is important to get the best deal to suit your circumstances. There are many choices available to you and your lender will advise you on the best mortgage for your situation. A Clear Path Home Loan from BOQ is a good option for those looking for a low interest rate and flexible payments. When all the negotiating is complete, you can settle back and enjoy the end result; your very own property.