Owning a home is definitely one of the biggest dreams of any Australian. However, just like any important aspiration, owning a quality home in North Shore is not a walk in the park. Just the thought of plunging into a big financial commitment is overwhelming and nerve-racking as it is, much more if you are already in that particular situation.
First thing’s first – prepare everything. Before anything else, you would need to iron out macro details. This means identifying and understanding your financial capability. Although there’s no harm in aiming for your dream home, you should also be realistic – you don’t want to commit to something you cannot cope with in the future. Hence, it is extremely important to set your budget. Aside from considering the price of the house, you would also want to zero in other financial factors that you would encounter in the future, such as paying for other financial obligations, health care expenses, property damage repair, among others.
This is when everything gets more exciting and interesting. After accomplishing the first steps, the next step is to find a property. Let your budget be your guide in finding the right property, making sure that it fits your budget and will not drag you to financial burden in the future. Before formally doing this step, you may want to talk with your family or spouse about it so they can give you suggestions on where to get property best. It is likewise vital to get advices and hints from real estate agents. These professionals know the ins and outs of the real estate industry so they are best qualified to assist and guide you in your property hunting. You may also supplement your real estate agents’ efforts by doing your own research online.
Another way to have an easier time finding the right property is to personally visit properties in your shortlist. When you do this, don’t forget to bring a camera with you so you can take pictures or videos of the property, which you can later use for reviewing and deciding whether or not the property is a good choice. However, to make it even better, you would want to consult with North Shore architects, home builders, and even interior designers.
After finding the right property, don’t sign any papers yet, instead, do a thorough research and inspection first. Some properties may be very appealing at first, but when you starting doing close inspection, it may be filled with damaged plumbing system, faulty wiring and rising damp. The rule of thumb is before committing into buying the property, make sure that what you will pay for is worth it. Hence, it is important to hire inspectors who will do thorough inspection of the property.
As advised by North Shore architects, when the inspection’s done, and you are satisfied with its outcome, what you should do next is to commit into buying the property. However, you must keep in mind that the price tag of the property is not always accurate as it may change depending on the negotiation’s conclusion. Real estate agents say that it is reasonable to make an offer within five-percent of the asking price; however this may increase when the real estate market is depressed. It is also a good idea to bargain but not to the point that you are asking for unreasonable price. When you are satisfied with the price, let your legal advisers review the contract and suggest additional terms into it. Be sure not to sign any documents without your solicitor or conveyancers reviewing them. Upon your legal representative’s and lender’s approval, it is time to pay the deposit. After which, the contracts between you and the vendor will be formally exchanged, finally sealing the deal. Keep in mind that after the exchange of contracts, pursuant to related laws, you are required to go with the purchase otherwise you may face penalties.
