Searching for your dream home is an exciting step on the path to home ownership. Looking through properties and planning your next move is all part of the fun.
One vital aspect that can be forgotten when looking to purchase is ensuring that all the boxes are checked and that you are prepared prior to making an offer.
Once you begin negotiations and offers are accepted, there are certain conditions of the contract that you are bound by, so it is important to ensure that you are ready for this process.
Are your finances pre-approved?
Before you begin your search for a property, speak with your lender or financial advisor to gain information and a pre-approval for your finances. This pre-approval will usually have an expiry, which means that once that date has passed, you will need to have your finances assessed again.
Many sales agents will ask you if you have pre-approval arranged prior to or when inspecting properties so that they can gauge where you are at in your purchase journey, and they can further assist with properties that may be suitable.
Don’t make the mistake of ignoring the pre-approval process including those expiry dates, otherwise, you could find extra challenges when trying to purchase your dream home.
Speak with a solicitor or conveyancer
If you don’t already have a solicitor or conveyancer, it is a great idea to engage one in the early stages of your property search. They are a great resource during the purchase to help you understand your rights and responsibilities.
They can also assist with any advice regarding the property purchase and will help with arranging the contracts and seeing you through the sale process when the time comes to purchase.
Don’t forget pest and building inspections
Some properties will have a pest and building inspection pre-arranged or completed prior to the sale and included with the information when you enquire on the potential purchase.
While this is helpful information to have, it is worthwhile engaging your own pest and building inspection of the property prior to the final settlement to identify any areas of concern that may need to be negotiated as part of the sale.
When it does come time to buying your first home, move on to your next home or purchase an investment, our sales team can assist with available and upcoming properties that may suit your needs and budget.