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Buying Tips

For some, buying a property can be a long, arduous and drawn-out process – but it doesn’t have to be. When looking for advice on real estate purchases, the tips below will help you to find your footing.

Contact the experts

Data is a key part of the real estate process, especially in a market as hot as Perth. As a purchaser, however, it’s unlikely that you’ll have sufficient access to it.

For this reason, working closely with an expert real estate firm is your first step on the path to property purchase success.

Know what you want

If you head into the market without a clear understanding of what kind of property you’re looking for, there’s a very real risk that you’ll waste your time – or even money.

By developing a clear picture of the features you’d like your property and its surrounding neighbourhood to have, you’ll be able to focus your efforts and refine your searches.

Some of the most common features that buyers look for in the area surrounding a property include:

  • Schools
  • Shops and local entertainment
  • Public transport
  • Easy access to major roads
  • Cultural diversity

Stay tuned with frequent alerts

Keep your finger on the pulse of the Perth property market by registering for regular alerts with local agencies.

By doing this, you’ll be able to receive automated updates as soon as anything matching your criteria hits the market, leaving you more time to make a purchasing decision and develop a competitive offer.

Conduct thorough property inspections

One of the biggest mistakes that buyers make is failing to conduct thorough property inspections.

By hiring an accredited building inspector, you’ll be able to ensure that you’re aware of the property’s condition and any hidden costs that could be associated with this.

Seek specialist legal advice

When buying a property, you want to be sure that all possible loose ends are tied-up. Some of the most important points that occasionally slip through the net include:

  • Building renovations carried out without local council approval
  • Title deed and property ownership complications
  • The implications that zoning rights could have on the property value

Hiring an experienced solicitor will make sure you cover all the checks you need.

Understand your borrowing power

If you don’t have a clear idea of how much you can borrow, you could end up falling in love with a property only to find out you can’t afford it.

If you’ve yet to find out, Joyce has a list of recommended brokers who will be happy to talk you through the types of mortgage that you’re eligible for.

Patience is key

The Perth housing market is in a constant state of flux. Just because you missed one property that was a little out of your price range doesn’t mean it’s the end of the world.

Although there are quiet periods, there are also times each year where the market picks up considerably. Be patient and you’ll find the right property for you.

Watch the local market

Keeping an eye on the local market is a great time investment. Not only will you get to know property prices better, you’ll also develop an understanding of how quickly properties in the area get sold. With this knowledge, you’ll be able to work out the right time to pounce on your dream home.

By hiring an accredited building inspector, you’ll be able to ensure that you’re aware of the property’s condition and any hidden costs that could be associated with this.

Seek specialist legal advice

When buying a property, you want to be sure that all possible loose ends are tied-up. Some of the most important points that occasionally slip through the net include:

  • Building renovations carried out without local council approval
  • Title deed and property ownership complications
  • The implications that zoning rights could have on the property value

Hiring an experienced solicitor will make sure you cover all the checks you need.

Understand your borrowing power

If you don’t have a clear idea of how much you can borrow, you could end up falling in love with a property only to find out you can’t afford it.

If you’ve yet to find out, Joyce has a list of recommended brokers who will be happy to talk you through the types of mortgage that you’re eligible for.

Patience is key

The Perth housing market is in a constant state of flux. Just because you missed one property that was a little out of your price range doesn’t mean it’s the end of the world.

Although there are quiet periods, there are also times each year where the market picks up considerably. Be patient and you’ll find the right property for you.

Watch the local market

Keeping an eye on the local market is a great time investment. Not only will you get to know property prices better, you’ll also develop an understanding of how quickly properties in the area get sold. With this knowledge, you’ll be able to work out the right time to pounce on your dream home.

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