CREATE A WISH LIST
Your needs will influence where and what you buy. It’s a good idea to start with a list of everything you are looking for in a property, though bear in mind that you might need to compromise some of your wishes. We at The Mint Estate Agency recommend selecting two to three ‘must haves’ on your list, i.e. your highest priority in looking for a home. For example, if you are an investor the rental yield and maintenance of a property may be your top concerns.
RESEARCH THE MARKET PLACE
Seek advice from your The Mint Estate Agency agent. They can provide comparable sales in the area. The internet is another good source for information, reports and statistics and can be done conveniently from home or on your tablet. Drive around the area, visit open homes and attend auctions to see what is happening in the market place.
BE FINANCIALLY PREPARED
Many buyers begin looking for a property without even knowing what they can afford to spend. This can be a big mistake resulting in disappointment when having found their dream home they realise they don’t have the borrowing capacity to purchase it. On the other hand, buyers can restrict themselves to a certain price without knowing that their real borrowing capacity could fulfil more for their wish list. We recommend buyers seek financial advice from a lending institution or mortgage broker before they shop to determine their borrowing capacity.