Buying a Property, whether your first one or your fifth, is a daunting task with many pitfalls to avoid. Knowledge is your most powerful asset, and it’s easy to prepare yourself for what lies ahead. Following are a few tips to help you secure the right property at the right price:
- Know what you can afford to spend: Being Pre-approved for finance puts you in a stronger position when negotiating the price of your chosen property. It also helps when allowing for the extras you may be considering. It really pays to shop around for your mortgage provider, the difference can be tens of thousands!
- Know the areas you are looking to buy in: Many factors can impact the amount of money you will pay for your property, and sometimes just to accommodate your needs may mean looking in other areas. This can affect travel, etc but the advantages can often outweigh the disadvantages.
- Understand your WANTS and NEEDS: These things can make a big impact on the type of property you choose to buy. Needs basically have to be addressed, whereas Wants can be addressed by way of compromise. Take the time to make a list, you’ll be very surprised! If you can’t achieve both within your budget then you may have to make some decisions regarding what is the most important on your list of wants.
- Imagination is your best tool: When it comes to inspecting a property, you have to be able to look past the current owners’ furniture & belongings. You also need to be able to see the changes you would make if this were your home; orange walls and blue ceilings can easily be painted.
- A notebook and pen is a good idea too: Sketch the floor-plan, TV & phone points, count power-points and so on. Taking photos during an inspection is at the Owner’s/Tenant’s discretion and it should not be assumed that it is ok to do so.
- If you are unsure of anything: ASK THE QUESTION! If your Agent doesn’t know the answer, they should be able to point you in the right direction, or find out for you if applicable. Agents cannot give Legal Advice, Financial Advice nor Tax or other Government Related Info, but can usually assist you with whom to contact regarding your enquiry.
If you are thinking of selling your home or other property it’s a good idea to know what its worth in the Current Market. You may be pleasantly surprised!
- Ask for your Free Market Appraisal and Property Audit Report: The Market Appraisal will show you comparable properties that have recently sold in and around your area, and help YOU set your Sale Price. The Property Report will help you identify areas, that if addressed will enhance your property and ultimately your final price.
- Choosing the right Agent can make a BIG difference: In your selling price and experience! Commission structures vary greatly and the savings available $1,000’s! Service is just as important, to the Seller and their Buyer! Ask your Agent the following questions-
- Why should I give you my home to sell?
- What will you give me in return?
- How much are you going to charge me? Can I negotiate this?
- What is the difference between an Exclusive Agency, an Open Listing or a Sole Agency?
- What is a Conjunction? Can I Authorise you to do this?
- What options or costs are involved with advertising? When do I pay this?
- Understanding your Agent’s Duty is important: It helps you to take a positive role in the sale of your property and creates a better relationship with the person you choose to sell your most valuable asset! Selling a home should be a positive experience and a little knowledge goes a long way to making it happen for you!
- When selling Knowledge is a powerful tool! If you are unsure of anything, ASK THE QUESTION! Your Agent should be able to answer any question regarding the sale process, and if the enquiry is related to another aspect of selling, e.g. Land Tax or Conveyancing, your Agent should be able to point you in the right direction.
- Don’t undertake renovations, etc: Until after your appraisal and discuss any plans you have with your Agent. If spending $20,000 only makes you $20,000 there’s not much point! However if spending $10,000 makes you $25,000 then that’s money well spent. Sometimes you just Have to spend money to sell a property. Identifying the areas that will have the greatest impact on your sale, helps you to budget and choose the options that best suit your individual needs, YES Owners have them too!
- Who knows your home better than You? Make sure to let your Agent know ALL the things you love about your home! These things will probably appeal to most others as well. Also, you should be honest regarding any existing problems you are aware of, as well as any repairs, rewiring, etc. Even brand new homes have problems, so don’t panic! The better informed your Agent is, the better the job they can do for you.
- Around the house: There are many simple things that don’t cost anything but can make a real difference in your Sale Price! Here are just a few:
- De-clutter your home – you will have to pack to move anyway, so making it easier for a Buyer to picture their belongings instead of yours is a great place to start!
- A good spring clean helps to freshen up your home as well as remind you of any little maintenance jobs that may help you achieve a better price.
- Outside is just as important! First impressions and street appeal can play a big part in a good sale.
- A day or two tidying the yard if necessary is time well spent, and allows easy maintenance during the sale process.