Pre-Approved and Ready to Pounce!

Some Tips for First Home Buyers

Buying a home is one of the biggest financial and emotional decisions you will ever make. Preparation is key, the more groundwork you do the smoother the process will be. Here are some helpful steps every buyer should consider before starting their property journey.

​​​​​​​1. Get Your Finances Ready
Check your credit score and save for a deposit. Budget realistically and factor in not only the purchase price but also stamp duty, settlement costs, moving expenses etc.

2. Pre- Approval
This gives you a clear idea of how much you can borrow and strengthens your position when making an offer. It shows sellers that you’re serious and organised.

3. Define Your Needs vs Wants
Must haves – Number of bedrooms, location near work or schools.
Nice to haves – Renovated kitchen, large backyard or extra garage.

This helps prevent emotional decisions during house viewings.

4. Research the Market
Study the recent sales in your preferred suburb. Attend open houses to get a feel for property values. Keep an eye on interest rates as they directly affect how much you can borrow.

5. Get a Team of Professionals that Can Assist You
Mortgage Broker or Lender – A guide for finance.
A Professional Real Estate Representative that can assist you to Settlement.
Settlement Agent or Conveyancer to help you with contracts and settlement.
​​​​​​​Building Inspector to ensure the property is structurally sound

It is very important to plan for the long term. As I often tell my buyers, buying a property is a big decision and shouldn’t be rushed into. I tell them if you buy a strawberry lollipop, you can go and buy a chocolate one but with a property it is not that easy!
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You must think beyond the next few years – resale value, growth potential, lifestyle changes and future plans (family, work, retirement).
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I hope this helps potential buyers. I work with many people on a day-to-day basis and strive to make their property journey to be a smooth as possible. I can’t stress enough the need to be well prepared for this big event. Sellers will always give preference to buyers that have pre–approved finance and are going to provide a stress-free sale!