Top tips for property buyers
Category Newsletter: Lead Article
Purchasing property is always a big deal, no matter if it's your first one or another in a growing portfolio. It's both an emotional and a significant financial investment. And you're likely to have a far more pleasant experience of the purchasing process if you take the time to think through what you want and need, and plan for the best possible ooutcome with a trusterd proeprty advisor. Here are our top tips for buyers.
1. Affordability is key when purchasing property.
Beyond the monthly bond repayments, make sure to budget for municipal rates and taxes, insurance and maintenance.
Do not be caught off-guard by surprise expenses.
2. Save for a deposit
The larger the deposit you're able to put down on a property, the more likely you are to qualify for a favourable interest rate. Consider how you might be able to save more, even if it means waiting longer to purchase your dream property.
3. Get prequalified for a home loan with a bond originator
A bond originator will apply to various banks on your behalf (and they deal with all the paperwork) to secure the best deal for you, after which they issue a prequalification certificate stating your eligibility for a bond as well as the amount you qualify for.
4. Location, location, location
Location is key when buying property. Opt for the best location you can afford, even if that means a property that isn't ideal. Remember, a property can easily be improved upon, a location not.
5. Work with a professional
There are a number of great reasons to work with a property advisor. A trusted property advisor has the skills, experience and expertise to help ensure you get the best deal for the property of your dreams. They are there to support you, minimise any hassles and make the property purchasing experience as smooth as possible.
Author: Leapfrog
