Oct 7, 2016 10:52:47 AM

What to Look For in a First Home

Topics: First Home Buyer 0

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As a first-time home buyer, you’ve probably already spent a considerable amount of time researching the property market, visiting open homes, and exploring every aspect of the home buying process. Now that you’ve found your dream home, it’s a good time to take a closer look at what you’re about to buy. Before you rush in, here are some helpful tips to help you make a good buying decision.

Know what you can and can’t change
Every home has some issues. Some you can simply live with, while others you can’t. Some things you can change and others are permanent features. When buying your first home, consider the things that are important to you about your home. Location is usually the most critical and not something you can change, so explore the area you’re considering buying in and check out your potential neighbours before submitting an offer.

Focus on the outside
Be sure to explore the property fully on your own and pay attention to the details. As well as making notes of unusual features, colours and design elements you like or don’t like about the property, focus on your potential home’s surroundings. Do the properties next door overlook your garden or bedroom? Is the property near a park or a shopping centre? Is it situated on a busy road and how noisy is the area at certain times of the day?

Sniff out any issues
When attending a home inspection sniff out any strong smells. While animal and tobacco smells can be eliminated over time, the presence of mould or mildew could indicate a much bigger problem and could end up costing you.  And don't be fooled by a pleasant smell that could be masking something a lot smellier.

Home DIY
Savvy home buyers will be on the lookout for amateur repair jobs or quick-fix home DIY. Check out any rushed or incomplete repairs made to any part of the property you’re considering buying; messy plumbing, carpentry and electrical work, leaky taps, missing tiles or flooring, and other incomplete projects around the house.

Gardens are hard work
Whilst you may love the idea of having a large garden, if you aren’t used to maintaining one, you might want to think twice about whether you want to spend your weekends weeding the flower beds and mowing the lawn.

Slow it down
Real estate agents are expert sales people and it’s easy to feel pressured into making an offer before someone else snatches it up. Don’t get pressured into buying something you’re not sure about; slow things down and do your homework before committing.

Use your head, not your heart
Keep in mind that this is probably the biggest and most important purchase you’ll ever make, so negotiate until you’re happy with the terms. And don't be afraid to walk away from a bad deal.

Get a second opinion
When you’ve found your dream home, it’s easy to overlook the little things that may not be quite right. Unfortunately, overlooking the little things could end up costing you in the long run. It’s a good idea to get a second opinion – bring a family member or a friend along to the open home. Since they’re not buying the home for themselves, it may be easier for them to spot any potential problems that you may have missed.

Work with a professional
To ensure you get the right mortgage to fit your needs, it’s worthwhile shopping around. Working with a mortgage broker saves you time and can save you money. If you’d like advice on the right financial package to suit your needs, get in touch with Mortgage Express.