5 Essential Advice for New Homebuyers

By  |  0 Comments

5 Essential Advice for New Homebuyers

Buying a house isn’t easy, right? Well, we can’t deny it may be stressful and it involves many legal procedures just to get started. However, there are certain steps you should take to make it as smooth as possible and save your time and energy during the whole process.

That’s why we show you 5 essential pieces of advice to consider if you are a new home buyer, or if you’re considering buying a home in the near future. Read on the 5 essential advice for new homebuyers.

1. Learn the Conveyancing Jargon

When you make the decision to buy a house, you’ll have to quickly learn the conveyancing jargon, or at least, become familiar with the jargon on conveyancing. With a good understanding of the jargon and terminology of conveyancing, you will facilitate the buying process, and especially, you will know exactly what you are getting yourself into or to prepare for.

Indeed, the key is to do your own research, and understanding the legal jargon can help but is not necessary to understand every detail of the buying process as this is what conveyancers are for. We are here to decipher the legal jargon for you…

2. Do Your Own Research

When you have gathered a lot of information on the prospective property,, you can negotiate confidently. This way you’ll understand the buying process and jump into this adventure with the right foot.

In fact, before establishing contact with the seller you should look for aspects such as:

  • Median property prices.
  • The average number of people looking for a property in the area compared to the number of properties for sale.
  • And much more.

In a few words, collect as much information as you can. Good knowledge about the market situation will give you an advantage. Finally, this research will give you an idea of the fair price in your preferred area and you’ll be able to make your next move or investment confidently.

The less you know, the harder it gets… So it’s time to research!

3. Hire the Right Professional

At first, you’ll have to find the right conveyancer for your needs. A good conveyancer will oversee the conveyancing process and help you complete your purchase, taking care of legal issues with the seller’s solicitor, bank, or local authorities; to ensure that the property settlement goes smoothly and on schedule.

For this reason, to choose the right conveyancer, you should explain your requirements to 3 conveyancers, and select the one who is more aligned to your needs or the one you trust more. Make sure that your conveyancer understands your expectations, and of course, that you understand your conveyancer fees and additional charges.

By the way, don’t sign any contract before listening to your conveyancer’s advice. Remember that buying a property is probably the biggest financial transaction you’ll make in your whole life.

4. Visit the Neighbourhood You’ll Be Living In

Buying a house is a long-term commitment, and you must make sure the property and neighbourhood meet your expectations. So, visiting the house and the neighbourhood regularly prior to the negotiation is a good idea. In fact, it’s a task you can’t delegate to someone else.

So, we recommend you to make a checklist to confirm the property has access to:

  • Major roads.
  • Public transportation.
  • Shopping or entertainment centres.

Just make sure the place is right for you as buying a house is usually a long-term investment. Take a walk around the neighbourhood, have a coffee, eat at a local pub, talk to locals to get their opinion on the neighbourhood, etc.

In sum, don’t only invest money. You also need an emotional and time investment to make the right decision when buying a house.

5. Buy at the Right Time

First of all, you should focus on buying when the housing market is down because it will open more opportunities for you. So, check the interest rates and market trends constantly.

Likewise, you must make a logical decision and assess how convenient it is to invest in the property. Certainly, you can consult your conveyancer, and she or he will help you take the next step and carry out checks such as calculate stamp duty, conduct searches,  order inspection reports, carry out council/body corporate adjustments, and any other relevant fees.

Judith Arevalo

I am a good Mom, have two active children. I am working in a beauty and spa company but now I also decided to make its own profession. So I am here to learn and teach.

[userpro template=postsbyuser user=author postsbyuser_num=4]

Leave a Reply

Your email address will not be published.