Starting your home search can be a daunting process. Often when home buyers come to us they don’t know what they need to watch out for and how they can start this process.
Here are the 7 key things you need to take note of before you go shopping for your home!
- Know your numbers – determine your budget, your income versus expenses, what you can actually afford on a month on month basis
- Build your team – a mortgage broker to help you with the lending and finance structuring arrangements and a solicitor to assist you with the legalities of purchasing your home
- Determine your borrowing capacity – work with your mortgage broker on what you can or can’t borrow for your home purchase, what deposit size do you need, what lenders are most suited to your circumstances and your goals.
- Get a pre-approval – based on your deposit size available, purchase price, goals and life circumstances work with your mortgage broker to organise a pre-approval
- Determine what makes an ideal home for you – Based on your affordability determine the location, the type of property, the size and convenience factors
- Look at past values of the properties in the areas you are considering (ask your mortgage broker to organise property reports)
- Build rapport with real estate agents and then start putting offers for your home purchase. Keep your mortgage broker in the loop and ask them what sort finance conditions you need to place before you sign any contracts
If you’d like to discuss more, simply call our team on 1300 97 60 60 or email [email protected]
Happy Shopping!
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Note: Please ensure you always seek specific specific credit, tax, financial, legal or investment advice. Property Twins' Blogs are not a substitute for personal and specific, taxation, financial, legal or investment advice
