Top 5 Home Buying Do’s And Don’ts

What should you definitely include on your ‘to-do’ list when buying a property and what mistakes should you try to avoid? The infographic below lists our top five ‘do’s and don’ts’ related to buying a home.

Unpacking the 5 Do’s

1. You’ll see the first ‘do’ in the infographic relates to affordability: find out what type of property you can actually afford before you start house hunting. You can use our affordability calculator to get a better idea of this amount.
2. Next up: do get a credit check to find out your credit score and see if you can improve it (if necessary) before applying for a home loan. Learn more about how your your credit score works.
3. Find out what documentation you need when applying for a home loan or putting in an offer on a home; having this ready will speed up the process.
4. Do get a professional in to inspect the home you are thinking of buying, as this could save you from investing in a property that is structurally unsound.
5. Consult our New Buyers Toolkit for useful tools and information for first time buyers.
    

    

Unpacking the 5 Don’ts

1. Don’t forget to find out about the monthly costs of owning a home. All these expenses add up and should influence your final decision about the property you’re going to buy.
2. Impulse buying is a definite ‘no-no’. Don’t put in an offer to purchase before you’ve done your homework – including getting that all-important home inspection done and finding out everything you need to know about the neighbourhood and monthly rates.
3. The property you’re looking at may come replete with the nicest finishes and best décor on the block, but this doesn’t mean it’s the best property for you to buy. Remember, it’s actually the land underneath the building that has the most value, and even the seemingly least attractive of houses can be transformed into the house of your dreams.
4. Buying a home can seem like an overly complicated, legal process, but don’t let this put you off. Take it one step at a time and get in touch with us for some expert assistance.
5. Lastly, don’t put off getting into the property market for too long – the time will never be 100 percent right, and, like most things, you often just need to take the plunge to reap the benefits.