Buying Tips

Buying Tips

Steps to finding the perfect home or investment property.


Speak to the bank and work out exactly how much you can comfortably afford to spend on the purchase of your new home. Work out how much it’s going to cost to run this new home (day-to-day living, rates, water, electricity etc.), interest rate rises. What would happen if interest rates rose sharply over a 12 month period? Can I fix my interest rate? Can I make extra payments now to get ahead on my loan? What would happen if we had a new family member arrive? And what if one of you were not working for 6-12 months? What if I needed to do some unexpected maintenance on the house? Many people spend to their maximum limit and buy homes bigger than they currently need. This may impress your friends. But they do not make your loan repayments. You do not want to have to sell your dream home because you spent too much. Be conservative and be happy.


Many buyers make a mistake on the purchase price of their home when they look in many different areas. Firstly decide on what area you want to be in. Which schools do you want your kids to go to? Do you have family in the area or close by? Once you have decided on the area it is much easier to get a feel for what prices people are paying for similar homes in your price range. This will help you once you locate a home you like on deciding how much to pay.

Finding a home

Once you find a home you like, this can be a very exciting time and emotional time. Look for any potential maintenance. A good building and pest inspector will help you here. Get Expert advice and help. Check for any potential pool issues, fences problems or trees overhanging neighbouring properties. Some homes will have problems but if they are priced right, you can fix anything. Most homes will have some kind of issues. Even new homes will have issues. Remember you are paying a building inspector to find faults, not gloss over things and say the home is perfect. Don’t be alarmed when they come back to you with a list of defects or recommendations. All homes have faults. Ask the inspector ‘Are these issues common for a property like this?’ It is when the faults are not common, you have to ask yourself, ‘Will the owner fix this or allow for this in the price?’


What stays and what goes? Make a list. Typically things like curtains, blinds, light fittings, the oven, carpets, air conditioners, dishwashers, pool and spa equipment, TV antenna’s etc., normally stay with the property. These items are normally covered under what is called ‘chattels’. If they owner wishes to exclude any of these items they would normally identify them in the exclusions section within the offer to buy contract. The agent should also identify this to you when showing the property. Make sure anything the agent identifies to you as ‘staying’, is in writing.


Agents are obliged to present all offers to owners. However, think very carefully when you make an offer to buy. If you have done your research on the area and have checked out lots of homes, you will know the values better than some agents. The questions to ask are as follows:

PRICE: Is the price I have offered, fair in the current market? Sellers will mostly be aware of market values, so will prospective buyers. Rarely will the best homes have a huge reduction in price.

TERMS: What is your offer subject to? Most buyers can offer either cash, or offers subject to finance and building/pest inspections. Often if you can be flexible on these conditions, and settlement time, you may be able to negotiate a better price.

CONVEYANCING: Ensure you have someone whom you can trust to conduct your legal paperwork. Buying and selling can be stressful. You need a professional who is approachable, whom you can ask questions and be guided by.

If you require any more information or have any questions please contact us at 4069 Real Estate, we would love to help make the buying process a lot less stressful for you.

Email [email protected] or phone our office on 3378 8284.