When you’re buying a home there’s a lot to think about, but it doesn’t need to be stressful. These tips can help you steer in the right direction if you’re considering a move in the near future.
Tips to help you buy the right home
Don’t believe the hype (good or bad)
Do your own research to find out if your target suburb is hot or not.
Location & fieldwork
The old property maxim still holds true. But that doesn’t mean inner city rules.
You want a property that delivers what you need now or enough of what you need that you’re happy to compromise for longer-term capital growth.
Be very clear about what matters to you
• access to major roads;
• public transport;
• shopping or entertainment hubs;
• cultural diversity.
Shortlist suburbs that deliver on those needs.
Do some fieldwork to make sure the suburb’s right for you. Walk around the area you’re thinking of buying in. Grab a coffee or a meal at the local pub. Pretend you’re already living there and see if distances are what they seem, and the atmosphere is living up to expectations.
Of course, it will be a little different once you’re moved in, but experiencing it first hand gives you a critically useful taste for the reality of that location.
Look closely at what developments or infrastructure is planned around the area in case your quiet corner is about to become a developer’s haven.
Consider surrounding suburbs
If your target suburb is out of budget, consider more affordable neighboring suburbs.
Before you buy, talk to locals to get residents’ views on the suburb and its best streets. Reading local publications and connecting with local websites, bloggers or personalities can also give you helpful insight.
If you’re attracted to an area because of its rising value, remember that may spill over into next door suburbs.
Look for the upside
Cooler periods in the housing market can be windows of opportunity, so it’s worth keeping an eye on the interest rates and market trends.
Some locations are hitting the bottom of a pricing cycle, so there are bargains to be had.
If you’re not ready yet, use Spring to prepare to buy in the quieter months of the year, when there may be less competition for the house of your dreams.
Talk to the experts
Talk to local agents to find out what’s happening in the market
You may not get your dream home right away. It’s ok. Consider apartments instead of houses in the location you are wanting to purchase, they are often more affordable and put you in your desired location. Or you may choose a property that needs a little TLC, but ticks other boxes.
Work closely with your agent to develop an action plan and strategy that meets your goals and needs.
Get in first
When looking for real estate bargains, register for www.ithacarealestate.gr so you are among the first to hear about properties for sale.
Monitor close to home
If you’re looking to buy a property in an area where you’re already living, take a close look at other properties that go up for sale nearby. Look at how they’re marketed, how well inspections are attended and how long they spend on the market.
This will give you an indication of how the market is doing in your neighborhood and can guide you on the price you should be paying for a property close by.
Search for the property sold prices.