Home Buying Tips



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Your success is my success.

Chico Timoti has worked in sales and marketing 20 years. I offer you these buying tips as an introduction to my personalised service. I will use my expertise to help you buy a home you love easily and at the best price. Please don’t be afraid to ask me questions.

Buying Tips.

Here are a few key points to consider when buying your own home.

Finance.

Everyone wants to know that you can pay off your mortgage and still have a reasonable quality of life.

You need to appraise your current financial status by gathering the income and expenses of all the people buying the house (for the last 2 years if you are self-employed and last 6 months if you are an employee).

With this knowledge, you can research the different rates offered and types of mortgages to get an idea of which one might work for you and know exactly how much you can afford to spend on your new home.

Then you can talk to your bank or mortgage broker with any questions you have and work out the best deal for your current situation.

Vision Your New Home

It helps to want what you can afford.

Sit and consider what are essential aspects of the building.

  • Do you want to buy a place and renovate it or do you want to move into a new place which meets current building requirements?
  • Which area do you want to live in?
  • How many bedrooms and why – storage, a growing family, a roommate?
  • How much garden if any?
  • What compromises will you have to make to stick within your budget?

 

Use Your Sales Agents.

I am a real estate expert…make the most of my expertise.

Narrow down exactly what you need, list what you ideally want and discuss it with a sales agent to reduce the amount of time you spend searching.

A good agent will have local knowledge and ideas that you may not have thought about.

They do the work sourcing properties on the market or, in some cases, soon to be on the market that may meet your needs.

Inspect Properties Yourself.

The more thoroughly you do this the more likely you are to avoid an impulsive decision that you regret later. 

  • Start before you arrive by looking at maps, local community forums, the local area, sale prices for other properties nearby etc.
  • Pause at the gate and take in the first impression of the house and the neighbourhood.
  • Check the whole exterior and the garden.
  • Consider whether your furniture will fit inside (through the doors).
  • Check all the details like ceilings, light fittings, floors, views.
  • Calculate where the sun will come from in winter and summer.
  • Begin to list what maintenance needs to be done. Can you do it or do you need to budget for a professional?
  • Ask about proximity to local services your family will need (schools, shops, bus routes etc) which should confirm what you already know.
  • Ask about cross leases, shared spaces, communal facilities, body corp fees.

 

Professional Inspections.

Professional Inspections prevent you buying a problem property. Your health and wallet will thank you for it.

Get a Land Information Memoranda (LIM) from the local council’s property file. This is a comprehensive report that contains the information the Council knows about a property or section. This can include what structures have or haven’t been approved and signed off by the council, potential developments planned for nearby, flooding risk and land toxins.

Get a building inspection. Walk through the property with them so you can ask any questions you want. They will identify structural issues, maintenance needs, damp and mould issues that may be in the house structure and their rectification costs.

There are other inspections available such as valuations, rental evaluations and drug testing which I will be happy to tell you more about.

I hope you found this information useful. I look forward to working with you.