Ferny Hills 
If you’re in the market for buying a home, however, this may not necessarily be the case. With current interest rates low, and various housing incentives available, 2021 is providing incentives for first homeowners to break into the market. However, with demand high and limited stock available in some areas buyers need to be savvy when making their purchase.
There are several things to keep in mind when hunting for a great deal.
Have your finances in order
There’s one thing you can be certain of: if a property is perfect for you, there will be others that are thinking the exact same thing! Don’t be the person who puts an offer in, and then has to scramble to get finance approved. A seller will always be more attracted to the person who comes to the table with pre-approved finance. Make an appointment with your financial institution and discuss with them how much you will be able to borrow. Keep in mind that pre-approval is only valid for a set period of time, and is dependent upon your circumstances remaining stable.
Consider neighbouring suburbs
Do you have your heart set on a particular suburb, but the price tag is too hefty? Have a look at the surrounding suburbs and see if they offer a similar feel to what you’re after. You may be able to get something nearby for significantly less. Keep in mind that those fringe suburbs can be the up-and-comers, and those house prices could increase in the not-too-distant future.
Check out the older listings
Sick of seeing the same people at newly listed properties each week, while you all jostle to get your offer considered? Why not check out the older listings? In a race to get to the newest listings, occasionally slightly older listings can be overlooked. For whatever reason, the perfect house for you could still be waiting out there, probably with an owner who is very keen to get it off their hands!
Don’t shy away from putting in a bit of work
Home renovation isn’t everyone’s thing, but for those that aren’t scared to take on a project there can be some great bargains out there! If you are prepared to consider putting the work in, make sure you realistically budget for the amount you will need to put into renovation works, before submitting an offer. If the purchase price, plus whatever you’ll need to spend on the renovation is over your budget, then you should probably walk on by. For properties needing renovation works, ensure that you pay close attention to the building and pest inspection reports.
Research, and then research some more
The best way to find a property at a great price is by being thorough in your research. Get to know the local area. Head to lots of open houses, and familiarize yourself with recent sold prices. Make yourself known to local estate agents, and develop a rapport with them. They may be able to offer you advice, share off-market listings, and maybe even offer you a heads up about great listings before they officially hit the market.
As your local property experts, we would be happy to have one of our agents advise you, and assist you in finding the perfect property within your budget. Call the office today for a no-obligation chat about the property you would like to find.
