This article is for general information purposes only and reflects the state of information at the time of publication. It is not legal or financial advice. Always seek professional advice tailored to your specific circumstances before making decisions.
Congratulations – you’ve made the decision to buy a house! But how do you find the perfect one for you? Read on, and we’ll guide you through the eight things to consider when buying your next home.
1. Identify what your purpose is for the home
Is this your first home? Your forever home? An investment property? The answer to this question will determine the location and type of home that suits your situation.
For owner-occupiers, you might want to be close to work or the kids’ school. Investors may prefer a higher-growth suburb on the other side of town from where they live and work.
2. Research the suburb and surrounding area
Once you’ve narrowed down your search to possible suburbs, research your shortlist. What is the crime rate like? Availability of public transport? Are there any potential zoning changes that might affect your future use of the property?
You might also like to have a chat with some local real estate agents to get a feel for market trends. This will help you determine a reasonable offer when you find a home you’re interested in.
Domain also has comprehensive research tools available on their website, offering insight into suburb performance, comparative analysis, and median house prices.
3. Decide on your wish list
Different people have different requirements when buying a home. Perhaps you want a low-maintenance ‘lock-and-leave’. Alternatively, a green-thumb might look for sprawling lawns and a large garden shed.
It’s important to have a list of all the key features that you want in a property, and rank them in order of importance.
4. Identify your deal-breakers
Some things may immediately disqualify a home from your list: proximity to main roads, lack of storage, or insufficient bedrooms or bathrooms.
Think these through carefully, as once you’ve signed on the dotted line, it’s usually too late to change your mind!
5. Take a look at your finances before buying
Consult your finance broker or bank before inspecting properties. They’ll let you know how much you can borrow and what your repayments will be, so you don’t fall in love with a home outside your budget.
Your finance professional will also advise how much deposit you need to meet the bank’s requirements.
6. Introduce yourself to the neighbours
If you’re seriously interested in a property, knock on the neighbours’ door and say hello! If you end up buying, you could be living next door for years.
Besides personalities, neighbours can provide valuable insight into the local area and lifestyle.
7. Drive past the property regularly
Visiting at various times—early morning, mid-afternoon, and weekends—can reveal a lot about a property.
For example, proximity to schools may affect traffic at pick-up/drop-off times. Parks and sporting facilities may generate noise or crowds that could impact your lifestyle.
8. Have Bliss Conveyancing review the Contract
Before you put pen to paper, speak to Bliss Conveyancing. We’ll review the Contract and make sure it addresses all your concerns and requirements.
