Buy a home you can af­ford

First home buy­ers are back in the prop­erty mar­ket – that’s good news

NT News - - LIFESTYLE -

ven­dor. The higher the price they can get out of you, the more they re­ceive in com­mis­sion from the seller.

Hav­ing said that, find­ing a good real es­tate agent who un­der­stands your needs, can pay div­i­dends in the long run. Ask friends for rec­om­men­da­tions, and in­ter­view sev­eral to de­ter­mine their level of ex­pe­ri­ence and ex­per­tise in the sub­urbs you’re in­ter­ested in.

Buyer’s agents are be­com­ing pop­u­lar. They act for you and do all the leg­work of find­ing the per­fect home, and deal­ing with real es­tate agents … for a fee. It can be a flat fee or a per­cent­age of the value of the prop­erty.

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START HUNT­ING WITHIN YOUR PRICE RANGE

Start off by de­ter­min­ing your gen­eral needs – where you want to live, how many bed­rooms and bath­rooms you need, and cer­tain school zones you’re try­ing to be in.

Then, be­come your own ex­pert. Tech­nol­ogy has em­pow­ered peo­ple like never be­fore to do a lot of the search­ing on­line.

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PUT IN AN OF­FER YOU’RE COM­FORT­ABLE WITH Buy­ing a home is a very emo­tional process. It’s im­por­tant to re­main ra­tio­nal and stick with your price limit while buy­ing. Peo­ple get caught up in bid­ding wars, and will go way over what their price limit be­cause they love the house.

Don’t just put in an of­fer be­cause you’re emo­tion­ally drained and des­per­ate to fin­ish the process. Ex­pect to miss out on a few be­fore you find the one.

If you’ve found the right one, make your bid quickly. There may not be much room to ne­go­ti­ate, as you’ll likely be fac­ing com­pet­ing of­fers.

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