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Ready for a Starter Home? 5 Things you Must Keep in Mind

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Homeownership rates in Australia are touted to reach 64% by 2021.

Undeniably, having a place to call your own is an incredible achievement, regardless of whether you are purchasing a starter home or a forever home.

This achievement is, however, a substantial financial undertaking that calls for preparation, foresight and a lot of diligence.

Are you in the market for your first home? If yes, here are five things to keep in mind.

1. Your Credit Score Will Matter Greatly

Your credit score is among the most significant determinants of what your loan’s terms are going to be.

It’s therefore advisable to know what it is, way in advance. If it’s less than pleasant, you will have some time to try and improve it before you actually make a loan application.

Australia scores individuals on a 0 to 1200 scale, with 500 to 700 considered as average. While you might still get a financier with a below-average score, this will likely be on higher interest terms.

A good score, by and large, gets you a better offer.

2. There Will be Additional Expenses

There are several other chargeable fees over and above the actual cost of the home. Some of these include insurance, repair costs, property taxes, association fees and so on.

You should, therefore, have the budget or income to cover not just these costs, but also to cover emergency costs that might arise.

Think ahead to how you intend to furnish your home and how much house leaves you with enough to do that.

If you’re on a shoestring budget, it’s advisable to start with the basics such as living room furniture, beds and bedding and basic kitchen utensils and appliances. But don’t rush to the shop if your old stuff is still usable.

However, don’t drag dilapidated belongings into your new home. If you live in the capital, and want to throw away your mattress, consider mattress recycling in Canberra instead of sending it to a landfill.

3. A Good Realtor is Key

Each neighbourhood has unique qualities and peculiarities you should be well aware of before making a purchase.

A credible agent will have a firm handle on what these are, as well as an array of properties with different features and a wide range of budgets.

As you shop for an agent, look for one with extensive experience and coverage in the area you are looking to settle in.

4. You Need a Reputable Home Inspector

A home inspection is done to identify any problems with a house that might require repairs or overhauls.

Without a reputable home inspector, you run the risk of missing some of these issues. The last thing you need is an inspector that overlooks problem areas just to help a seller or a realtor to make a sale.

If you are referred to a tried and tested agent, you can ask them to refer an inspector to you. If not, then you’re better off finding and vetting an inspector or an inspection company by yourself.

If you buy a house with major damage, you will find yourself in a pinch months or years after the purchase as repair and labour costs can get quite high.

5. You Need to Protect Your Financial Standing

Your pre-approval will be solely set within the information given at the time you make an application.

Any amendments like a job with a different salary, additional loans or job loss can result in your loan being denied when you begin the purchase process.

As much as possible, try to hold your financial position constant so as not to jeopardize your homeownership dream.

Easy Does It

Finding and buying a house is not a process that should be rushed. When you finally decide to take the steps towards homeownership, allow yourself the gift of time.

This should enable you to shop around for a great house in an enviable neighbourhood and at a good price.

It should also allow you the time to vet agents, inspectors and lenders. Ultimately, you deserve not only the home of your dreams, but you also deserve to get a good deal on the home of your dreams.

The crucial role of technological input in modern business

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When it comes to running a successful business, there is no getting around the fact that it is a job that demands constant attention to detail and intricate involvement on every level possible. These days, modern businesses are functioning and thriving at an all-time high, and a massive part of the reason why that is comes down to the fact that technological innovation has well and truly impacted the modern business landscape for the better. Of course, the goal of technological influence is always to improve an aspect of life as we know it, but the simple truth is that sometimes certain technological innovations have more of a profoundly positive impact across the board than others.

Today, the landscape of business is one of the most tremendously impressive landscapes in the world. There is an incredible amount of determination and hard work that goes into bringing these landscapes to vibrant life. There is something to be said about the businesses that are willing and able to take their approach to the next level by introducing and embracing modern marvels like technological influence. More than ever, technology is present in business in fresh and exciting ways that are challenging, if not near impossible, to come to terms with otherwise.

Respecting the balancing act of entrepreneurship

The art of entrepreneurship is one that is well and truly involved in a tremendously impressive inclination towards the ongoing evolution and improvement of a business model. Being an entrepreneur is never an easy job, and it is so incredibly important that all entrepreneurs, no matter their background, are entirely dedicated towards the cause. It is a balancing act that never seems to come to an end, and it is a balancing act that is significantly important when it comes to successful and long-lived business in this modern era.

Introducing technological input into a business

The key to longevity and success for modern businesses is to work with technological innovations (among other aspects and points, of course). This was mentioned earlier, but the importance of including and embracing technological influence in a modern business cannot be overstated. The rest of the world is moving increasingly in the direction of a digital future. What that means for businesses specifically, is that they are now in a position of essentially having to transform the way they approach growth, by means of technological advancement.

Consistently thriving and elevating the business

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Thriving and consistently elevating a business takes a lot of determination and hard work. This much is glaringly obvious, and it is also incredibly important to not that the influence of technological power in modern businesses is making this task easier than ever. Whether it is incorporating an automated novated lease calculator for company vehicle utilisation, or expanding a business by creating and building upon an online presence, the point is always, and without exception, the same: success in business these days is at least partially hinged on the business in question’s willingness and capability to embrace technological innovation.

5 Tips To Buy A House In Australia In A Competitive Price

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Buying a new property is a big deal. One should not take it lightly. Proper research and evaluation should be there before making the final purchase. So, tips in this regard will be pretty helpful!

When you need to find your place, you need to get all the help in the world that you can. After you have done your research, you need to know about the proper procedure of buying a property. For this, you need to know about the regulations of the country. A visit to one of the many Australian accounting and law firms is a must.

The Australian Market

The Australian market has been seeing some drop in the real estate prices since 2014. There are many reasons for this drop, and the experts say that the trend will continue in a coming couple of years too.

For a regular customer, the top spots to look for a new property is below:

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Photo courtesy: https://www.news.com.au/finance/economy/australian-economy/housing/

These are the areas where the prices are affordable. Most of the people opt for these areas as it favors the customers. But moving to such an area will also require you to know a few things about buying a new house. Here are a few tips for you:

1. Evaluate Your Finances And Budget

You’re probably wondering how much you can borrow from the bank. Good question! Get in touch with your bank and work out a plan. Mortgages are not easy. You need to select the best possible option.

2. First Home Buyers Grant

YES. There is a first home buyer’s grant! If you and your partner haven’t ever bought a property before, there’s a good chance you are eligible to receive the First Home Owner Grant (FHOG). This scheme varies state to state, so be sure to check with your local authorities.

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Photo courtesy: https://www.realestate.com.au

3. Research The Market

It is almost obvious. You cannot hope to move into a new place without inspecting the market. You should know about the current trends of your locality. The best way to evaluate the markets is to check the future trends of the market. What will be the value of your property after a year?

4. Use A Buyer’s Agent

A buyer’s agent can be pretty handy in this regard! He will probably help you n the negotiation process. Moreover, he will have the knowledge that you cannot simply gain by visiting the area yourself.

5. Research The Property

You should ask the following questions:

· Why is the vendor selling this property?

· Are they looking for a quick sale?

· How long has the property been on the market?

· Is the buyer willing to negotiate on the price?

· Dos the property has any known issues in the past?

Hopefully, with these tips, you are all set to start your search for a new place! Get going!

Tips to Grow Your Kitchen and Bathroom Design Business

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Starting a kitchen and bathroom design business is no rocket science as there are so many who have made out there. If you are an enthusiast for interior design, it is never too late to start and become a huge brand. Here are tips on how to grow your business as a kitchen and bathroom designer.

Focus on Marketing

You might have all the right skills to deliver impeccable designs and remodelling, but you have no one to deliver to. A lot of craft persons rely on referrals to reach as many people as possible, but this does not always work since not everybody likes you and will put good work out there for you.

On the contrary, recommendations are not harmful at all but will not get you where you want to go. Start by coming up with a brand name and a simple, attractive logo that represents you. Punch in a slogan cannot hurt too. With these in place, start small according to your financial ability.

You can start with social media pages, podcasts, and blogs and grow to more prominent marketing platforms as you gain more customers and make more money. While still at marketing, move with the trend and consider setting up a website where clients can quickly look through your services and products, including making orders and giving feedback for the services received.

Increase Your Staff

As you look to grow in terms of impact in the market and amount of returns you make, consider starting the growth from the inside.

Marketing might work incredibly well for you depending on how good your strategy is but if you do not have an adequate workforce to deliver to the many clients that you got yourself, they will leave and look for a designer who delivers.

Become selfless for the greater good by spending more of the profit to add a few more skilled employees with the potential to grow too in your payroll to increase productivity and improve on service delivery. Eventually, this investment that seems to be dragging your income at the moment will pay off.

Find a Reliable Supplier

Like all other businesses, you will need people to supply to you certain products that you need to make every design you come up with a masterpiece. As part of starting the business, you will need a list of the basic things required to deliver to clients, and with these, you can start looking for the right people to do kitchen and bathroom supplies for you in Australia.

Go for someone whose competency is at the same level as yours or even higher to avoid last minute rush or delays in delivering to clients’ expectation. The ideal choice here is Argent which is a renowned brand throughout Australia and globally for stocking top-tier products at significantly reduced prices.

Make Quality a Priority

The growing might seem easy, but maintaining the trend is not guaranteed, primarily if you are known to play around with the quality of service you deliver. Everybody wants value for their money, and that is why you need not compromise with the quality of service you deliver to clients to keep them satisfied and recommend your services to others.

Connect with Colleagues

As they say, no man is an island, and when starting a kitchen and bathroom design business, you need to learn from others. It is crucial to add on some creativity in your interactions as well and give much thought into hanging out with other designers in the business.

Best way to do this is to attend exhibitions and visit any kitchen and bath showroom in town where your peers are and wear your ‘people’s person’ hat. You will be stunned by how much extra you get to learn by interacting with your competitors and confrères.

Offer other Services

Do not stick to doing new bathroom and kitchen design for clients but consider adding extra services that will allow you to reach out to more clients and get to grow your business.

Remodelling, consultation, and maintenance are some of the additional services you can bring in rather than only working with clients doing completely new projects.

With the right skill set, planning, and the spirit to learn from others and a handy guide like this, there is no reason why you should not grow to a prominent brand recognized and respected globally.

Home Renovation Ideas & Tips to Increase Home Value

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Renovating your home makes it more attractive and comfortable. However, there are other renovations that you can undertake that increase the resale value of the home. It doesn’t matter whether you don’t plan to sell in the near future – it makes it worthwhile for you to have a return on investment from what you put in place. Not every renovation idea adds value to the property; some might give you just minimum returns. Here are renovations that give you maximum ROIs.

Home Renovation Ideas to Increase House Value

1. Remodel Your Kitchen

Whether it is a full or partial remodel, the changes you make to your kitchen will add some value to the property. This is because this is the single most room in the home and buyers consider it a priority. If your kitchen is cramped, make it spacious. Add a fresh coat of paint and clean the cabinets and other kitchen furniture. Replace any damaged appliances and install a countertop. Finally, make sure the light is bright and airy.

2. Update Your Bathroom

The bathroom also adds to the resale value of your home. Use modern styles when updating this part of the house because it has since turned from being a room for keeping clean and now it is a place of a luxury. Install new faucets and showerheads. Next, install tiles on the wall around the bathtub.

3. Invest in Interior Lighting

Lighting makes a huge difference in the way your indoors look. You need to know that buyers prefer as much natural light as possible because this saves on energy costs. Use different types of lights for various purposes. You can use lights to set the mood or use task lights to illuminate parts of your kitchen for easier handling of tasks. Move through the house and understand where changes are needed. Go online and shop for deals so that you save on costs and save more than 50 per cent on purchases.

4. Re-do Your Insulation

Redoing the insulation in your home is one of the eco-friendly renovations that you can undertake. Extra insulation makes your home more energy efficient, which means you pay less for gas and electricity. This reduces on utility bills, something that homebuyers are looking for. Work with a qualified contractor who will check the insulation and come up with an estimate depending on what you need.

5. Install New Cabinets

If working with a decent budget, go for new cabinets. Cabinets create a dramatic look that will transform your kitchen. The cabinets will add a different style and a different tone. You can also try a new layout.

Tips to Attract Lots of Potential Buyers

Now that you’ve made the decision to sell your home, the time has come to make sure people will want to buy it. Your real estate agent will tell you a little about how others have prepared their houses for sales, but ultimately the task of getting the house ready is in your hands. Here are some basics that will ensure the house presents well and attracts the right type of attention.

  1. Taking Care of the Essentials of the House

Your first task is to ensure that the structure of the home is in great condition. To this end, you want the wiring, plumbing, and the foundation checked by a professional. If there is any type of repairs needed, you’ll want to hire handyman manly services to take care of those issues. When a prospective buyer asks if the roof has been inspected recently or if the wiring is up to date, you can answer in the affirmative. That will help keep the conversation going.

2. The Clutter Goes Now

Since you are offering the property for sale, no one really wants to look at your collection of knick-knacks or stuffed animals. As much as you like them, they are preventing buyers from seeing what the house has to offer.

Before you have the first person come to look at your house, get rid of the clutter. See this as the opportunity to decide what makes the move with you and what needs to be donated or given away to friends. Pack up all but a few accent pieces to help give some character to the rooms. Everything that you plan on keeping can go into storage for now.

3. Clean Everything

Once the clutter is out of the way, every inch of the home must be cleaned thoroughly. You may not detect the scent left by the dog because you are used to it. Buyers entering the home will quickly notice the smell and begin to be turned off immediately.

Leave nothing undone when it comes to the cleaning. Wash down the walls, have the window treatments cleaned, and hire a service to steam clean all the carpeting. Don’t forget to clean all the bathrooms thoroughly and go over the hardwood floors and tiles. Even the kitchen cabinets need to be cleaned. All this hard work will leave the home smelling fresh and looking great.

Remember if you don’t have the time or are not that great at cleaning, you can always hire a professional house cleaning service to do the job. Rest assured that the money will be well spent.

4. Staging: Less is More

With the clutter gone and everything cleaned, you need to turn your attention to staging the home. This will likely mean putting some pieces of furniture in storage. Your goal is to leave enough in each room to provide inspiration for using the space while providing the opportunity for buyers to see the architectural details of each room. This provides them with the ability to envision their belongings in the space, something that could lead to receiving an offer.

Remember that while your real estate agent will do a great job of finding potential buyers and bringing them to the property, preparing the house for sale is up to you. Get things in order, and ensure that the house is always at its best. Doing so will mean receiving an offer sooner than later, and maybe even getting an offer that is a little more than your original asking price.

This article comes courtesy of Rokco Builds, trusted customer-centric services in building and construction based in Morningside, QLD.

5 Tips To Ensure That You Get The Right Personal Loan For Your Needs

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With the accessibility to financing today and also to technology, more Australians can access funding hassle-free. Online funding, for one, has become a very normal part of life where those seeking financing can do so with ease in order to pay for a home, car, boat, business, or any personal project you may be embarking on. Traditional financing institutions have a variety of loan products that can meet the needs of the average consumer, allowing you to pursue your goals.

A personal loan is one of the many products offered through lending institutions, and it allows consumers to borrow money for a variety of projects. Typically, consumers only need to supply lenders with the reason for the loan and other important information related to their financial health. Through the many personal loans, Australia can be the backdrop to fulfilling your financial dreams and goals, once you have secured the right financing to meet your needs.

Continue reading to learn how you can successfully obtain a personal loan that best meets your needs.

Consider The Purpose

When looking to take out a loan, consumers should pay attention to the purpose of the loan because it will help them in choosing a loan program that best suits their needs. For example, when taking out a personal loan used to fund a trip overseas, certain considerations will be of import. For one, the length of the loan is important because you want to pay it off quickly so as to avoid interest. The loan amount is important as well because the trip might not require full financing. When thinking deliberately regarding the loan’s use, consumers are more likely to make wise choices.

Get Schooled On Lending

Consumers should also take time to research different lending practices. In the last decade or so, financing has drastically changed to the point where consumers can choose from a variety of ways to fund a project. Furthermore, with the introduction of online institutions and a quick and easy application process, consumers can access funding quickly and easily. Also, lending institutions have made it possible for some people, who typically would not have access to financing, with the ability to borrow. Finally, with many of the lending institutions competing against one another, usual application standards can supplement an application that might not meet the normal standards.

Compare Rate Types

The two more popular interest rate types are fixed and variable with each having their own benefits. Both rates are set by the market and financing institutions, but the fixed interest rate does not change throughout the life of the loan. The variable interest rate loan, however, changes throughout the loan, and the great benefit to borrowers is that they can get a very low rate loan if the market is good, which decreases the total loan amount financed. Alternatively, if interest rates spike for any reason, the monthly payment can balloon increasing this balance.

Prepare Your Budget

Before you apply, consider putting together a budget to see how much of a loan you can actually afford. A simple budget can list all of your expenses and all of your income. Then, subtract the expenses from your income to get an estimate of how much extra income you have available.

Use An Online Calculator

Figuring out how much to borrow can begin right at home because today’s online calculators make doing the calculations very simple. Many calculators can give you a variety of information including monthly payment, interest rate, time, principal balance, and total payments. These calculators range from the very simple that asks you to plug in information to ones that can calculate for different factors.

Guaranteed Approval

Getting approved for a loan is not a difficult feat, especially with all of the tools available to consumers. In fact, most of the work required to get your loan approved can be done from the comfort of your living room. Ultimately, the more prepared you are before applying the more likely you are likely to successfully find a loan that will meet your needs.

Property Picks 2019 – How Should Homebuyers Be Investing This Year?

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Those who are avid property investors will know what an absolute jungle of competition it is out there in 2019. Whether you are someone who invests in property for capital gain or a great rental return, it is important that anyone investing do some research into trends in the property world and proceed with caution. If you’re looking to invest in Australian property this year, here are some insightful tips into exactly where you should be spending your money in 2019. Read on to find out more!

Magnificent Melbourne

If you are looking to invest in property in Melbourne, we highly recommend focusing your attention on the middle to outer western suburbs in 2019. Properties in these areas are highly affordable, and have some of the biggest potential to grow in the coming years. With a number of project home builders focusing their attention on these areas in Melbourne, it is no surprise investors are racing to purchase properties before anyone else gets the chance to.

Some upcoming suburbs in Melbourne include Reservoir, Thomastown, West Sunshine and St Albans. The best properties for investors to spend their money on would be bungalows and townhouses with some land content. For those looking to invest in a home slightly closer to the city, units and townhouses are a fantastic option. Experts advise that if you’re looking to invest close to the city, you should look for properties that are within a 10km radius from the CBD.

The Best Properties In Sydney

If you’re more inclined to purchase property in Sydney, you are in luck. Expert investors believe that Sydney has already experienced most of its property drop, meaning that the first half of 2019 will present investors with some of the best buying properties with the least amount of competition. When it comes to investing in homes in Sydney, it is advised that you focus on houses instead of units due to land restrictions.

The growth in value if you purchase a house will far exceed that of a unit or a townhouse/apartment. In terms of areas to look at, seek out homes with rezoning potential and in urban growth corridors. Other fantastic options are areas which are only just being developed with upcoming infrastructure such as train lines or road projects. If you’re only looking to purchase a unit, it is advised that you look to purchase one that is closer to the city, amenities and near public transport.

Bustling Brisbane

Experts have predicted that Brisbane is probably one of the best places to invest in property in 2019. With a 13% property price growth estimate by 2021, Brisbane is the place for those who are looking for capital gain. Some of the best areas in Brisbane to invest would be the blue chip inner-ring areas that are close to the river and the CBD such as Paddington, Hamilton and Auchenflower. The biggest gains are expected for houses, with median house price expected to grow by 11% in the next few years.

Regional Areas

Last but not least, those who are looking to invest in property in regional areas are in luck. A number of property markets in regional towns are currently thriving, and make excellent investment prospects. Locations outside of capital cities often present the best opportunities for investors as homes are much more affordable, housing supply is often tight and simply because cash flow tends to be a lot stronger in these areas.

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We hope that this article has been useful in giving you some inside knowledge on exactly where you, a homebuyer, should be investing your money in 2019.

Manage Your Expectations – What to Look For in a Property Manager

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Being a property owner is an incredible feeling, and it comes with untold benefits. What you may overlook is how consuming it can be to manage your property while also living your life and looking out for that next investment opportunity. Fortunately, there is a solution that has helped millions of homeowners come out on top, and able to mitigate the direct property management and bypass all the drama that can come with the rental market. Hiring a property manager is a worthy investment, but they are not all made equal. If you’re on the hunt for a property manager that will simplify your life, here is what you need to look out for so that you secure a great manager.

Great communication

It’s that million dollar question that everyone answers differently – how much contact is optimal with your property managers in Melbourne? A manager worth their salt will work out quickly just how involved you want to be, and when information should be expedited to you directly or withheld due to insignificance. If you yourself are not sure what sort of communication regime you are looking for, feel it out and understand what their communication structure is with their other investment owners and what they feel is balanced for you.

Reliable and reactive

When residential or commercial tenants are not in your properties, it can be stressful. No matter how good your property manager is, this is simply going to be a fact of life. A good property manager, however, will mitigate that rental income shortfall and be reactive enough to lineup another candidate and get contracts signed swiftly.

None of this is to say that there isn’t a rigorous screening process, it simply means that they will have warm leads ready to go should a lease be broken. An even better property manager will have a sense of whether a tenant is getting itchy feet or looking around, and can work with you to put wheels in motion should that transpire.

Portfolio management

How many properties do you currently own, and more importantly, how many do you wish to own? The number of properties and the size of these developments will govern what sort of property management arrangement you should seek and whether that will need to change as your portfolio expands.

The quality of a property manager does not vary depending on the size and number of your properties, so do your research before you choose. If your portfolio is split over more than one state as an out of state investor, you will need to decide upon the location of where you wish your property manager to reside.

Market driven

The property market is about as agile as it comes, rising and falling all too frequently. While you may not have your finger on the pulse nine times out of ten, it is a reasonable expectation that your property manager does. Look for a company or individual that live and breathe the property market so that they can advise you of the climate as often as you need, and spot opportunities for your existing and future assets.

Like any profession, there are people that see their job as just that – a job. Find that X factor within your next property manager and you will both have a long and successful future together.

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You’ve worked hard to build your portfolio, and you want to see it managed and cared for with the same love and attention that you wish to deliver. By taking the time to find the right fit for you, you can set yourself up for an autopilot approach to your assets as you know they are in safe and more capable hands.

5 Steps to Win a House Competition in Australia

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Winning a dream house is a thrilling experience. Just imagine owning your dream house overnight by simply buying a prize home ticket is pretty exciting and daring. Most people end up losing because there has to be only one winner who takes the prize home.

winning a brand new house lotto

Here are some of the tips that you can apply to increase your chances of winning a house competition in Australia:

1. Identify a Currently Active House Competition

Most house competitions are usually advertised on television and newspapers. You can also do a web search about the house giveaways and lotteries currently active in Australia.

Go through all the dream home lotteries and choose the one that suits you. You can choose the one with the best offers such as bigger homes in safe neighbourhoods or even an extra car.

You can also decide on home lotteries that support charitable causes to avoid feeling hurt when you lose in the contest; You will comfort yourself by being convinced that your money ended up saving lives.

2.Conduct Background Searches About House Competitions

You must first confirm a competition’s legitimacy to win any lottery. Some house competitions are not authentic and end up robbing people who take part. You must, therefore, confirm if it is authenticity before proceeding to buy a prize home ticket.

Visit their website and consider the source of information about the tickets. You should also investigate whether there have been complaints against the sponsoring company. Ask your colleagues about the legitimacy of the home ticket competition. One of a reliable organisation is these prize homes at yourtown, where you can win a prize home and support young people and families in Australia.

Add words like ‘Scam’ to the name of housing competition when doing a web search to see if the competition is not as authentic as it presents itself. By doing all these things, you reduce the chances of losing money by buying a ticket for a competition that is not legitimate.

3. Check the Rules to Avoid Being Eliminated

Breaking rule is the fastest way to get disqualified from any competition. To increase your chances of winning the dream house, you must strictly follow all the instructions about the competition. You need to read all the guidelines at least twice to avoid missing out on essential rules that could kick you out of the contest at an early stage.

Give all the details required to take part in the competition. If they need your full names and date of birth, then present the details.

4. Purchase Your Prize Home Tickets from Different Places

If the house competition allows you to buy multiple tickets, your chances of winning are high. Some people believe that buying tickets from different people and locations can increase your winning probability. Buying multiple tickets in this manner prevents you from having consecutive numbers. Therefore, your winning chance is high when you have different ticket numbers. So if you want to win a house, please try this trick; you never know if you will win.

5. Read the Guidelines to Check for Additional Ways of Winning

Thoroughly review the guidelines and information provided about the competition. You may notice an extra means of winning your dream house from these guidelines. You can also get more tactics by visiting the websites of companies promoting the house competition. Read the section on how to enter the contest in such websites because you may discover additional entries that may increase your chances of winning.

The secret to winning a lottery is the same in all kinds of competitions whether you want to win a car or a house: buy as many tickets as possible from different sites and locations and stick to the rules of the competition. Go ahead and give it a trial; you might win a dream house and become a homeowner sooner than you expected!

Top 10 Tips For First Home Buyers

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Buying your first home in any of Australia’s major cities is a difficult task. From getting your finance approval, finding a home that will suit your needs, competing with other buyers and investors at auction and most importantly not paying too much for a property.

For an inexperienced buyer, it is normal for the buying process to take up to six months to a year. We look at the top ten tips to shortening your time on market and getting your weekends back, to save you money.

Tip 1. Finance Pre Approval.
Having your finances in check empowers the buyer to not spend time looking at the wrong area in the wrong price range. It also gives you a negotiating ceiling so you know when to walk away if things get too heated.

Tip 2. Do Your Research.

Understanding what a similar property sells for in a similar area is vital to knowing the market value. When you see something you like, check a similar spec property that has sold in the last three months. This will help you spend your time wisely, on the right property.

Tip 3. Building Inspection.
Once you have successfully completed step 1 & 2 and you have found a house you like. It is important to do a building and pest inspection to make sure your not buying a maintenance nightmare. A typical building inspection can cost anywhere between $550 to $850. It is a worthwhile investment and will help reduce the chance of buyer’s remorse once the property negotiating is done.

Tip 4. Seek assistance in negotiating.

Real estate agents are negotiating pros. An average agent will sell one property each week where an average buyer might only purchase a house once every ten years. Different negotiating tactics apply to different real estate markets.
Buyer’s agents (https://wiserealestateadvice.com.au/home-buyers-agent/) are real estate agents for hire, they serve only the buyer and are employed to get you the best price and selling terms. To save a few dollars, find a buyer’s agent that offers a negotiating-only plan rather than a fully serviced plan. This should save you thousands.

Tip 5. Compromise your criteria for success.

If you keep losing auctions, it is better to adjust your criteria to give you more buying power. For instance, choose a property that may need a light renovation, a three bedroom property instead of a four bedroom property, smaller land allotment or peg back a suburb away from the CBD.


Tip 6. Government Grants.

First homeowner’s grants are a great help to minimizing some of the overheads when it comes to buying a property. To check if you are eligible, visit the state revenue office website for more information.

Tip 7. Conveyancers
You will need to hire a conveyancer to complete your sale. They will ensure all the conditions in a contract are fulfilled and make sure everything is legally signed over into your name. Normally they cost around $1000 per property purchase.
It is wise to get the contract of sale read over by your conveyancer prior to signing any contact of sale. A good conveyancer will provide this service free of charge and warn you of any risky conditions.

Tip 8. Add Clauses To Your Written Offer.
When submitting an offer on a property, every buyer has the right to add protection clauses to reduce their risk when buying. For instance, a ‘subject to finance’ clause or a ‘building-inspection clause’. These clauses can be like a ‘get-out-of-jail-free’ card if something goes wrong.

Tip 9. Don’t give agents verbal offers.
Always negotiate in writing using a Contact of Sale and Section 32’s. This process makes sure the vendor / seller visually sees your offer and responds back in writing using a counter-offer tactic rather than trusting the real estate agent’s story.

Tip 10. Never disclose your budget.
Keeping this secret is your key to saving money on a property negotiation https://wiserealestateadvice.com.au/negotiating-property-price/

Real estate agents highly skilled with negotiating strategies and know how to increase an offer if they know how far they can go. If the agent is kept in the dark they are less likely to empty an unsuspecting buyer’s pockets.