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.

1. 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.

2. 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

3. 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.

4. 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.

6. 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.

7. 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.

8. 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.

9. Talk to Experienced Property Managers

If you are looking to buy an investment property, you will need experienced Perth property mangers by your side. Engaging the wrong property management firm could be a very costly mistake you don’t want to make. At Joyce Property Investments, we have an outstanding reputation for property management. Finding a suitable property management company before you buy a property can be advisable if you want to know your exact management costs and the services you get for your money.

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We not only understand the process of property management, we also stay actively engaged in it.