Finding your perfect home, together

February 13, 2017
Ali Batten

Buying a home is one of the biggest decisions you and your partner will make – and finding that perfect home can be a lot of work. Follow these tips to give you some guidance.

Decide what you want
Sit down and talk about what each of you wants in a home. Discuss what you both are willing to compromise and what is not negotiable. Remember to take everything into consideration – your commute to work, schools and the recreational facilities you’d like to have close by.

Discuss your lifestyle
Have a chat with your partner about your lifestyle and look at absolutely everything you spend, add it all up and think about whether you’re willing to forgo any of it for the sake of a mortgage. Some things you may not want to give up (food for instance!), while other things might be worth compromising on so you can buy the home you want.

Meet your broker together
When you meet your broker, do it together. Show up well prepared with all the paperwork you need. Be open about your finances and the kind of lifestyle you lead. When it comes to how much you’d like to borrow your broker can help you figure out what you can afford. Plus, we will take into account all the fees and taxes you need to pay, too, so you’re well prepared financially when the time comes to buy.

Get to know the area
Once you’ve got an idea for how much you can afford, start looking around the area you’d like to buy in. Check out websites such as domain.com.au or realestate.com.au so you can see what’s available. Agree on a narrow location area first and become an expert in that area so you know the price and available stock. While you’re at it, get a feel for the neighbourhood by refueling at a local café, talking to locals and visiting at different times.

Make a Saturday plan
Looking online is important, but at some point you need to start visiting properties themselves. Put together a sort of ‘hit list’ of houses and proceed from there and use google maps to help you plot the properties and decide the best order to see them in. A little tip is only seeing two or three open homes at most on a Saturday, so they don’t all blur together and end up forgetting each ones little details.

Follow up on price
When you visit an open home, the real estate agent will be able to give you a price guide for the property. But be sure to follow up with the agent after the sale date to find out what the property actually went for. Some agents will email out the results, so enquire about any email lists you can subscribe to that reveal the sale prices.

Become auction pros
If you’re not familiar with auctions, try visiting a few to see how they go. Talk between the two of you to decide who will be the better bidder and decide on a maximum that you will not go over. Worse than missing out on a home is buying one you can’t afford, which will create financial strain on your relationship and lifestyle.

Have your contacts ready
As you get closer to being ready to buy – now that you know the neighbourhood and how much you can afford – it’s a good idea to get your ducks in a row! That means getting your loan pre-approved and having a contact ready to go for any last-minute pest and building inspections.

Call Suzanne, Owun or Costa in the office on 02 9517 1818, or email newtown1@mortgagechoice.com.au to discuss your options. Or, if you feel like dropping in at our office, we are located at Suite 106, Flourmill Studios, 3 Gladstone Street, Newtown 2042. Be sure to share our blog on Facebook and Twitter and let others join the conversation!

Posted in: Lifestyle

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