Once the persistent showers we have been experiencing in Perth begin to ease (apparently next week) and the mercury starts to climb you can be sure of one thing – we will start to see more buyers out and about eager to secure a home in time for summer and Christmas (yes, it will be here before you know it)!
If moving is on the cards for you this spring/summer, the Real Estate Institute of WA (REIWA) has compiled its top 5 tips to help you find and secure your perfect home.
1. Consider your not-negotiables (your ‘must haves’)
REIWA says it is important to write down your ‘must haves’ as well as your deal breakers BEFORE you start looking (even before you look online). Doing so will save you an enormous amount of time and frustration as it will narrow down your search from the start. You may decide your home must be within walking distance from public transport. Perhaps it must be zoned for a particular school and have at least 4 bedrooms. This list is personal and may require some negotiation and compromise with other family members
2. Consider how much you can afford to spend
Look at your finances and speak to a financial adviser. Consider obtaining pre-approval on a loan as this will put you in good stead to make a firm offer and avoid missing out on the home of your dreams.
3. Know your limit
This point goes hand in hand with point 2 but is a reminder to ensure you don’t get so caught up in the feeling (which can easily happen as buying a home is an emotional decision) that you lose sight of logic. REIWA suggests you factor in a budget, including how much you can afford to pay on a mortgage per month (with room for rate increases of about 2%). This will enable you to work out the maximum offer you can afford to make.
4. Consider a Buyers Agent
REIWA suggests that you consider a Buyers Agent. However in our view a professional real estate agent should consider their buyers’ needs as much as they do their sellers. If you wish to know more about what a Buyers Agent does, click here.
5. Don’t rush
Buying a property is one of the biggest investments you might make, so be sure to take your time, explore what’s on the market and talk to your local real estate expert before you take the plunge. Give us a call for an obligation free chat to discuss your options.