For many buyers the temptation to dive right into the show-house circuit is high – and, we get it: you don’t want to miss out on that perfect property! But some planning and preparation before you tackle the property market will go a long way in helping you find your dream home.
Here are five key things to consider when you set off on the house-hunting journey.
- Be realistic about your needs and priorities
There’s a lot more to defining your needs than the number of bedrooms, colour of the tiles in the bathrooms and how many parking spots you’d love your new home to have. The most important aspects to consider are a) what can you realistically afford, b) what are important lifestyle factors for you, and c) what might become any future needs.
When it gets to looking at your budget, try to avoid spending your maximum capacity. Having access to a financial buffer can be handy for any repairs, maintenance, moving expenses and future interest rates increases that might come unexpectedly.
Be honest with yourself about your spending behaviour and lifestyle choices and needs – there’s no point to buying a home for the person you wish you were, instead of the person you are. If you struggle to save, acknowledge it and opt for a conservative mortgage; the last thing you want to do is buy a fancy home that you really can’t afford. If you love a lush garden, but don’t have any green fingers, ensure you can afford a gardener first before investing in a property with a high-maintenance backyard. You may also love the idea of DIY, but unless you have aptitude for renovation management or handiwork, a fixer-upper might become a house that haunts you.
Don’t forget to also think at least five to ten years ahead, and where you realistically see yourself going – will you be starting a family or retiring? Make sure the home you want to invest in also accommodates your future life plans.
2. Find a good estate agent
Once you’ve defined the essential you’re looking for in a property and have narrowed down your search area to a few suburbs that tick the right boxes, it’s time to get in touch with an estate agent active in the area.
Why is it important to ask the help of an agent? They are well-connected in the area and will be the first in the know if a property that meets your needs are in the market – this is extremely valuable when you’re competing against other buyers with similar needs.
- Don’t let the aesthetics sway you
When it gets to house-hunting, be careful to not give superficial aesthetics too much weight in your property decisions. It might be easy to be won over by a particularly stylish property or be put off by a home that’s décor isn’t to your personal taste. However, don’t let the surfaces of a home blind you to its true potential and detract from a well-built structure.
We’re not saying that you should compromise on your essentials but remember that a few new pieces furniture and a coat of paint can work magic in transforming an ugly duckling into a swan. Also keep in mind that pretty finishes and trendy designs might also not guarantee a problem-free, well-maintained home.
- Look a little deeper
There are few things as disappointing as getting your hopes up that you’ve found your dream home and then discovering expensive problems underneath the surface once you’ve moved in. To avoid ending up in this situation, take a little closer inspection when viewing a property with an agent.
Don’t be shy to really look under the hood, so to speak: open doors and windows, look into corners and cupboards, check under sinks and in roof spaces and feel the walls for damp. Feel free to ask questions about a home’s maintenance history – the seller’s agent might need to get back to you on this if they don’t have the information on hand.
Remember to do your inspection and investigations as respectfully and polite as possible, especially if you hope to make an offer down the line.
- Don’t give up!
It’s easy to get disheartened when you’re not finding what you want, or your offer hasn’t been accepted, but remember: the next home you see could be the one that’s meant for you. So, keep looking, keep trying and keep in touch with your agent. It may take some time, but the wait will be so worth it when you find your dream home!
