What to consider when buying your first property
Category News
When you embark on the journey to buy your first property, you probably feel like you don't really know what you're doing. There are two pieces of good news about this - firstly, you are not alone, because every first-time buyer feels the exact same uncertainty, and secondly, you don't have to know all the ins and outs, because that is your estate agent's responsibility.
The first step is to find an estate agent with whom you feel comfortable. Allowing him or her to show you a variety of properties is a far less stressful way to go than meeting a different agent every time you view a property. If you have questions, don't be shy to ask your estate agent - it is his or her job to find you the perfect property.
Before you start looking at potential new homes, you're going to need to know what your budget is. Jawitz Properties has online calculators that will help you crunch the numbers. Thanks to these handy calculators, you'll know upfront how much you can afford to borrow, what your monthly repayments will be and how much you will need to pay for the bond registration fees and transfer costs. Furthermore, it would be beneficial for you to take the online bond pre-approval process with the Ooba Bond Indicator online tool to fully understand what bond value you can qualify for.
Once you've looked at the numbers, it's time to start looking at properties. So what is the property that's right for you? Understand if you are buying property to live in or potential investment opportunity. It's important to remember that a bond is a long-term financial commitment hence why buying property is one of the biggest life decision that people make.
Get your details loaded onto real estate agencies databases and be first to know about new property releases, new price adjusted properties and properties on show. This will assist you with shopping around and getting a feel for value for money in areas of interest as well as neighbouring suburbs.
When you've found a property that ticks all your requirements, and that's within your price range, excitement will take over and you may be in a rush to sign on the dotted line and get the paperwork to the deeds office as fast as possible. Our advice is to take the time to look carefully at the property and make sure that it's your perfect match. As we've mentioned, this is a long-term investment and you want to make an informed decision. Be aware of any renovations or improvements of your potential new home that you may have to do some work on. Identify any potential extra expenses that you could incur soon after the property is transferred into your name, as they will need to be budgeted for.
A bond originator is going to be your new best friend when it comes to getting all the correct documentation for buying a property as they will assist you with any financial concerns or queries. Using one of these organisations is the simplest, most affordable and least stressful way of doing a home loan application. The exciting news, is that their services comes at no charge to you, a bond originator will apply to all the major banks for finance on your behalf. They will guide you through the entire process and, and thanks to their vast experience, they will ensure that all the checkboxes are ticked to give you the best possible chance of not only getting your home loan approved, but also of getting the best interest rate.
Buying your first home may be a daunting process, but it's also one of the most exciting journeys you will take. Investing in property and taking your first step in climbing the property ladder is a great step towards a financially secure future.
Author: Jawitz Website
