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Talk To Yourself

Buying property is a big life step. While the thought of it might make you weak at the knees, its important to sit back and ask yourself if home ownership is really for you. Ask Yourself, am I comfortable being held to a long term mortgage? There are risks associated with property ownership, such as market fluctuations and maintenance issues, make sure you are comfortable with these. Finally stick to your budget, know what you can afford.

Do Your Research

Research is arguably the most important task when looking at buying property. There are numerous factors that need to be considered before even looking at a property, many of which are overlooked when emotion takes hold. Location is the biggest player in terms of resale and capital growth. If you want real bang for your buck down the track, make sure your property is unique! Research the market thoroughly and be price aware.

Qualify Yourself

Window shopping, while considered therapeutic in retail, is a different story in real estate. Agents are some of the most compassionate, talkative and helpful people out there, but when it comes to buying a property and closing a deal, make sure you have your finances in check and are able to make a deposit. Failure to do so, may see you missing out on your dream home or investment for months to come.

Be Ready To Pounce

Hesitation often leads to disappointment. While it is only common, especially when buying a first home, to ponder on a purchase, seasoned buyers know to pounce quickly when the property is right and the price is right. Unfortunately property is not like consumables, and it may take some time for another property of similar calibre and price to come to market.

Be Ready To Sacrifice

Your perfect property is going to be expensive, lets face it. If you don’t have pockets of cash, chances are you’ll need to turn a blind eye to something you don’t like about a particular property. In an age of high expectations, realities of budget conscious buyers soon realise that not every property is 100% perfect.

Have Support Ready

Going in alone is daunting to many, and rightly so. Go out of your way to get advice from close friends, family or professionals. If they’ve been through the process themselves, they’ll be able to shed some light and guidance on the buying process.

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