Buying a home is a significant life decision that can be both exciting and nerve-wracking. Whether you’re a first-time homebuyer or a seasoned real estate investor, feeling confident in your home-buying journey and the decisions you make along the way is crucial.
To help you get started, we’ve outlined our top 10 ways to build your buying confidence in 2024.
1. Finance first.
Before your property search even begins, you need to know how much you can afford to spend! Talk to a mortgage broker and/or bank and be sure to shop around for the best deal taking into account rates, fees and fine print.
2. Get clear on what you want.
Before you start searching draw up a property wish-list to help keep your search on track.
3. Research your local market.
Use online resources such as Realestate.com and Domain to gather insight on your local market.
4. Attend inspections.
Now is the time to start attending as many open for inspections as possible. The more homes you visit, the more you’ll realise what’s within your budget and what you’re willing to compromise on.
5. Understand the process of buying.
Now is the time to familiarise yourself with the terminology and process of buying a property.
6. Be aware not all listings are advertised.
Don’t just rely on property portals for new listings, as some properties are sold ‘off-market’. In this case, property details are shared via a dedicate website or buyer’s agent networks without being advertised to the wider public.
7. Find a good local agent.
A skilled and experienced real estate agent can be your greatest ally when buying, providing valuable market insight and helping you navigate the entire process. Chat to your local agent about your budget and requirements; that way they can let you know about relevant upcoming listings before they go live.
8. Brush up on your negotiation skills.
Negotiation is a crucial part of buying property – from the final price to the length of settlement, to fixtures and fittings, everything can be up for discussion.
9. Be patient and keep emotions in check.
Buying a home can be an emotionally charged process, where feelings of excitement can quickly turn into disappointment.
Lastly…
While each buyer’s journey, following these tips and having the correct information at your fingertips means you will be ready to move quickly and confidently when the right property comes along.
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