Five signs you’re ready to buy
Regardless of whether it’s your first house or your fifth, buying a property is a major step.
It’s also one that requires legwork in advance to ensure it’s a decision that suits your lifestyle, budget and long-term goals.
So how do you know when you’re ready? Here are five signs you’re ready to buy.
You know the market
In Australia, we love to talk about the property market, so much so it’s almost a national sport. But within the national property market, there are micro-markets, and you need to research the area where you intend to buy thoroughly.
That research involves looking at recent sales of properties similar to the one you’re seeking, visiting the area to understand its nuances, considering any trends emerging in that suburb, and understanding what’s likely to happen in that area in the future.
You’ve weighed your options
Buying a property isn’t just a single decision on which house to purchase. It’s a series of decisions made throughout the purchasing process.
For example, what purpose will the property serve – investment, holiday home, primary residence?
What features should it have – how many bedrooms, a swimming pool, car parking? Which location might suit you best?
Or what style of property – renovator, low maintenance, new home, etc?
Long before you’re ready to buy, you will have weighed your options, narrowing down the type of property you’re looking for.
You’ve run the sums
Budget is a huge determining factor when it comes to any property purchase. And this is one of the first things you should work out before you even begin the property search in earnest.
Speak with your lender, understand your finance options, and if possible get finance pre-approval, so you can confidently look at properties and make an offer when the right one comes along.
You’ve had it checked
If there’s a property you’re seriously interested in, make sure you conduct all the necessary checks. These include pest and building inspections, along with a little due diligence about the neighbourhood, and any plans that might impact it in the future.
It feels right
As much as research, due diligence and finance play a key role in determining which property is right for you, ultimately it’s often a decision based on emotion.
In other words, the property feels right for you and is likely to suit your needs. When this emotional side kicks in and all the other boxes are ticked, it’s a pretty sure sign it’s time to put in an offer because you’re ready to buy.
How we can help
If you’re considering buying or selling a property, why not chat with one of our friendly agents to understand the state of play in your local market?
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
