Understanding the Buying Process

Are you looking to buy real estate but are finding the process overwhelming? Here is a simple view of the key steps you need to understand to ensure your buying journey is as smooth as possible – from finding a home to, working out finance, getting a building inspection and making an offer.

Understanding the Buying Process

If you’re entering the property game with a view of buying a house, it’s worth getting a grasp of the process involved.

Wrapping your head around the buying process takes some thought, but once you understand it you’ll be a lot more confident when it comes to securing the perfect home.

There are different methods available when buying, depending on whether the seller chooses to go down the road of a private sale or an auction.

Sponsors: We buy houses in Ruston

Sort Your Finances

In order to be perceived as a serious buyer and make an offer on a property, you’ll need to obtain loan pre-approval.

There are multiple lenders who offer loan pre-approval, so be sure to shop around before you settle on a loan. You’ll want something with a low interest rate, but you might consider other features such as an offset account or line of credit.

You’ll need to have a substantial deposit in order to take out a loan. The Australian Securities and Investments Commissions recommends saving at least 20 per cent of the purchase price, plus enough to cover one-off costs, such as stamp duty.

Browse and Inspect

Whether you’re an existing homeowner looking to shift to a nearby suburb or a renter that wants a change of scene and the taste of home ownership, you’ll need to have a look around suburbs you’re interested in and work out the going rate of particular properties in the area.

Open inspections are a good way to see a property in more detail if you’ve singled it out as a favourable option.

However, you’ll need to do more than this if you’re serious about buying. It’s important to obtain a pre-purchase property inspection report before you buy.

This might be referred to as a building inspection or a standard property report. It outlines any issues with the property as well as commenting on its general condition.

For instance, if there are issues with dampness, wall cracking or other building defects, these will be highlighted. It’s also advisable to obtain a pest inspection report, too.

While some problems might make the purchase of a particular property a no-go, other issues will be less problematic and may allow you to negotiate the price down.

Making an Offer

You might make an offer on a private sale and hope that your bid is accepted by the buyer. You can make a conditional or an unconditional offer.

A conditional offer is a wise move if you’re selling your existing property, or want to check the structural integrity of the property before you buy it.

When it comes to the paperwork involved, it’s wise to engage a conveyance or solicitor to ensure everything is watertight.

Preparing Your Home For Sale – Sleeping in Style

When you make the decision to sell your home, knowing which changes would make your home sell more quickly or boost the sale price and knowing which would just be a waste of your time and resource is important. Here are 5 easy tips to ensure your bedrooms make an impact on your potential buyers.

When it Comes to Bedrooms, Size Matters!

After the number of bedrooms, buyers are most interested in the size. Use neutral or receding colors to make your bedrooms seem larger and reduce the amount of furniture to maximize the feeling of space. Be clever with the space you have. If you have a small bedroom use a double bed instead of a queen, or bunks in a children’s room.

Storage Style

You can never have enough storage in a bedroom! That’s why you’ll see people peeking in cupboards and wardrobes at an open house. To reduce the demands on limited space in small bedrooms, consider having built-in robes installed, but keep the interior simple because if you include all the bells and whistles you won’t recoup the costs.

Give me Sanctuary

Buyers want a bedroom where they can escape the worries of life. You can make your bedroom a sanctuary by adding a little luxury with fresh linen, puffed up pillows and extra cushions, a comfy chair and a few special features, like candles and perfume bottles.

Light and Airy

Bedroom lighting is really important in creating atmosphere. To give a romantic feel, consider adding dimmer switches and bedside lamps. If you are having evening viewings, quality lighting is essential.

Less is More

However large your bedrooms are, they will look small if they are cluttered with your personal knick-knacks. When it comes time to sell make sure you clear away the clutter. That doesn’t mean your rooms need to look totally impersonal, a few exotic perfume bottles, a vintage tea cup by the bed or a romantic candle display can make the room feel like home for potential buyers.