Let us help you through
the buying process
There are many decisions to make when buying a property. And if you’re running an existing household, chances are your time is precious. Here’s where we can help.
The first step is finding an agent to help you. You may already have someone in mind. If not, call your nearest Professionals office and they will put you in touch with the right person. If you haven’t already done so, make a list of what you’re looking for in a property. What are the non-negotiable features and what are the nice-to-haves?
Work out your finances. How much money do you have for a deposit? How much can you afford to borrow? Do you have funds available for any renovations that may be required? See our home loan calculator to work out your repayment commitments.
Determine the overall costs involved. Make sure you account for everything so there are no surprises. See ‘Money Matters’ for a list of additional expenses you may need to consider.
Understand current market conditions. Is now a good time to buy, or should you wait? Research different areas in your city or town to get a comparison.
Find the property that matches your requirements. It must provide all your non-negotiables and hopefully a few of your nice-to-haves!
Enter into an agreement to purchase in writing. This can be conditional on various factors such as the sale of an existing property, or the result of a building inspection. You will be required to pay a deposit (usually around 5 to 10% of the purchase price).
Finalise the legal requirements. You will need professional legal advice. You should also arrange insurance for the new property from the possession date. It would be wise to also update your current will.
Plan your move. Try to minimise disruption to your work and life routine. For instance, you may want to take time off work. Ask friends and family to help if they can.
Pre-settlement inspection. Check that the property and chattels are in the same condition as when you signed the Agreement for Sale and Purchase and any agreed maintenance and repairs have been carried out.
Settlement and possession day. You will have to pay the balance of the purchase price, to your lawyer’s trust account so that funds are available on settlement day. Once this is confirmed, you can then pick up the house keys!
Throughout this process, keep cool and remember that while it may seem a little daunting at times, we’re there to help you every step of the way.
View our online e-book ‘Pathway to Buying your Home’ which has practical information on finance, understanding the market, finding a property and making an offer.
If you would like assistance in finding the right agent to help you with your buying decision, please contact us.