Buy a home you can afford
First home buyers are back in the property market – that’s good news
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.
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.
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.