Question & Answer
Question: How can I put some spring into my hunt for a new home?
Answer: Spring is a temptress if you’ve been thinking about moving. Streetscapes often look their best, and gardens burst with inviting colour and scent. When everywhere looks wonderful, narrowing down your search to just one location or even one home can be tricky.
An important place to start is to consider what sort of new home will suit both your lifestyle and your budget?
Consulting a property finance specialist is a good way to establish how much you will be able to spend on your new home. It is a good idea to do this early in your search as your finance broker will have access to the latest information on interest rates and deals being offered by various lenders.
Then based on your current financial situation they will be able to establish what is affordable for you. If it is your first home they will also be able to tell you whether you might be eligible for any government incentives. After you have done this you will have a clear idea about any fees that will be encountered and repayment options. This will help you work out your borrowing capacity, which is effectively your shopping budget so you can start searching in earnest.
But when there are any number of possibilities in most price ranges, where do you start looking? Taking stock of which elements in your lifestyle are the key influencers in your selection of a location for your new home is a good start. For instance a family with young children will generally appreciate a larger home that is near parks and schools or is convenient for commuting to work.
On the other hand a single person or a couple might prefer a smaller home or apartment in a location that is nearer to adult attractions like restaurants and night-spots, or is easy to secure while the owners are away travelling.
Once you have decided what type of home in and location fits your lifestyle criteria you can narrow down your search.
You’ll find more useful tips for doing this on ljhooker.com.au or drop into your local LJ Hooker office. Either way you you’ll also have access to a range of properties for sale.
Question: How much should I pay for a property?
Answer: Once you have found that ‘special’ property you need to decide what it would be worth to you. Bear in mind what a home is worth to one person may be different to another.
To help you arrive at your own figure, you will find it useful to establish how much similar properties in the area have sold for, bearing in mind that those figures may need to be adjusted to suit current market conditions. Your local LJ Hooker agent has access to a myriad of data in this area and can guide you.
Once you have decided what price you are prepared to pay it is time to test out the market by preparing your offer to buy with your agent. If the seller of the property is motivated to sell by your offer you could be moving in sooner than you think. Good luck!