Buying the home of your dreams can be quite a balancing act; that is, finding the right features that suits your lifestyle and fits your budget. Here at RE/MAX Solutions, we focus on identifying your exact needs, this will enable us to provide you with a specific range of properties that will make short listing, and final selection not only quicker, but enjoyable and exciting, the way buying a home should make you feel.

1. Understand your borrowing capacity

Typically, it is important to achieve the following prior to making an offer:

• Obtain your pre-approval amount

• Interest rates (fixed versus variable loan)

• Additional costs of buying (bank fees, stamp duty, legal fees, etc.)

• Consider speaking to a mortgage broker and/or directly with the bank

 2. Market Research

Be sure to understand the position of your property and the potential for future capital growth.

Be sure to understand what amenities are close not only for your own convenience but for future re sale value.

This can include:

•  Schools

• Medical services.

• Shops.

• Reliable public transport.

3. Inspecting a property

Inspection checklist for Inside the Property 

• Inspect the condition of the carpet and floor tiles.
• Inspect the condition of the walls and ceilings for any obvious damage.
• Inspect the condition of the bathrooms and look for signs of grout and/or tiles cracking etc.

Inspection checklist for Outside the property

• Inspect the condition of all fencing.
• Inspect the presence of trees around the property that may have large root systems that can cause structural problems.
• Inspect that the land’s water run-off is sufficient and drains away from the dwelling.
• Check to see if there is any water staining on the eaves as this may indicate damaged or blocked gutters.
• Inspect the roof for any broken tiles or capping.
• If the property has a pool, check that there is a valid pool safety certificate in place. Pools in a unit/townhouse complex i.e. is the responsibility of the body corporate.

4. Clarify what the inclusions are

Make sure you understand what comes with the property

Always confirm with the agent what is included and what is excluded in the sale of the property. Unfortunately, there have been buyers who move into their new property only to find features that attracted them to the property have since been removed.

Confirm what fixtures are included?

Typical fixtures include:

• Oven & Stove top.
• Hot water system
• Carpet.
• Clothes line
• Water Tanks.
• Plants and trees.
• Ceiling fans.
• The Mailbox.
• Air-conditioning and/or heating systems.

Confirm the inclusion of chattels

Removable items are called chattels and they can be included; however, they must be noted in the contract of sale.

Typical chattels include:

• Dishwasher.
• Irrigation.

5. Your Offer/Settlement

When making your offer make sure that you understand and confirm with the agent the following details to go in the contract of sale:

• Price.

• Time frame for the building and pest condition i.e. to obtain a building and pest report that is satisfactory to you – which is typically 14 days from date of contract.

• Time frame for the finance condition i.e. to obtain formal finance approval – which is typically 21 days from date of contract.

• If there is a pool that there is a valid pool safety certificate in place.

• Once the contract is signed by both the buyer and the seller that you the buyer takes out home and contents insurance over the property.

• It is your legal right to have the contract looked over by your solicitor prior to signing the contract to ensure that all is correct and if any additional conditions need to be inserted into the special conditions of the contract.

• Ask for a pre-settlement inspection to ensure the property is in reasonable condition, and that fixtures and chattels that have been agreed upon as per the contract are intact. This is usually done the day before or the morning of settlement.

Good luck with your purchase and please feel free to contact our friendly team any time for tips and advice...