If you’re hoping to crack into the property market this year, here are 8 simple tips we share with our first home buyer clients. These tips will help to ensure you can purchase a home that not only suits the majority of your needs and wants but most importantly your budget.
8 Tips To Crack Into The Property Market
✅ Understand your borrowing power (Do this before you start your search).
✅ Research the area you’re buying in (so you know what comparable properties are selling for and a fair price to pay).
✅ Don’t feel pressured to rush your decision (but also don’t expect prices to fall much further than they already have).
✅ The importance of getting your ‘first property’ selection correct (Is it a good investment and will it appeal to future buyers when you sell).
✅ Be realistic. Your first home may not tick ALL of the boxes on your wishlist, but you don’t have to stay there forever.
✅ Don’t buy with emotion. (When you overpay for a property it will take a lot longer to see a good return on your investment).
✅ Don’t spend (or borrow) more than you can comfortably afford. No property is worth financial stress!
✅ Save. Save. Save. A larger deposit will often mean a lower interest rate and smaller repayments.
If you can follow these 8 tips you’ll not only have a more pleasant experience when buying your first home, you’ll also likely be able to make a faster and better-informed decision.