4 Tips for Buying a Home

Be Realistic

When markets are strong, as they are now, you need to be realistic in terms of what you can afford. This is especially true when buying at auction. Look at recent comparable sales to get a good idea of what your budget will get you.

 Get Pre-approved

There’s no point going through the buying process if you don’t know what a bank will lend to you. By getting pre-approved, you can gain a firm understanding of your budget and also make an offer with confidence.

 Understand Government Incentives

There is a range of government incentives, from both the state and federal governments, that could make a huge difference to a home buyer. Depending on your situation, you might be able to get a stamp duty exemption, first home buyer’s grant, or even access to a low-deposit loan. Your mortgage broker will be able to help you with this.

 Know Your Market

Houses are selling quickly, and prices are rising. It’s important that you do your research and know your market well. Speak to real estate agents in your area and get on their ‘active buyer’ lists. If you are prepared with your finances and know the market, you’ll be in a strong position to make an offer quickly.