There’s a lot to think about when buying a property in one of the most beautiful places in Australia. Whether you’re buying your first beachside haven or rural sanctuary, moving to a bigger house or downsizing, our basic buying checklist will take you through the steps. This will ensure you have ticked all the boxes to get you moving in the right direction…
- Determine how much you can afford. It is advised by lenders to look into properties that cost no more than three to five times your annual household income. But you should make this determination based on your own financial situation. Check out an online affordability calculator to see how much house you can afford.
- Choose a lender. Now here you have 2 options. Option 1. Your personal bank. As they already have all your personal account and investment history details they should be motivated to give you the best possible rate. Option 2. A mortgage broker. Mortgage brokers will go to lenders on your behalf to find the best mortgage rate and terms, hopefully saving time and money.
- Get pre-qualified for credit. Getting pre-approved will ensure that you know how much mortgage you can get, before you fall in love with your dream home and allow you to focus your hunting efforts by targeting within your price range. To get prequalified, you just need to provide some financial information to your mortgage banker, such as your income and the amount of savings and investments you have.
- Make a wish list. Knowing what you must-have, want, can do with-out and definitely cannot have makes your elimination process a lot easier. Make a list of your essentials such as bedrooms, bathrooms, alfresco or garage and then include a list of wants, like stainless steel kitchen appliances, house on a cul-de-sac or high ceilings. Clearly identifying this lists allows you to prioritise your wants and needs – Good Luck!
- How we can help. In order to make this process as stress-free as possible our Stocker Preston Property Consultant can provide you with helpful information on homes and neighborhoods that aren’t easily accessible to the public. Our knowledge of the home buying process, negotiating skills, and familiarity with the area is extremely valuable. And best of all, it doesn’t cost you anything! Why Choose Stocker Preston link…
- Making the offer. Congratulations for getting to this point. You have found the home of your dreams! Making an offer can be both exciting and nerve-racking. Don’t worry our Property Consultants are here to put your mind at ease and ensure all the legal fine print and responsibilities are being met. We will put your offer together with you to include everything from the price you are prepared to pay, to the inclusions you want , the closing date and the conditions that need to be met for the deal is to go through. Fingers crossed.
- Closing the deal. Once your offer has been submitted, the seller can accept it, reject it or sign back a counter offer. During these back-and-forth negotiations, you may need to compromise on small things but our sales consultants will work hard to get you what you want. At no point should you feel bullied or pressured to make a move you aren’t comfortable with. We will be behind you 100% during the negotiation time. Once you have a firm deal, documentation needs to be signed and all legal and financial obligations need to be met. It’s time to handover the keys!