Helpful information for property buyers in Brisbane
Whether you are buying your first home, your next home or an investment property, a purchase of this significance is an important decision. At Blocksidge, we consider all potential buyers as valued customers and work to ensure that you are well positioned to make your decision with confidence.
There’s a lot to think about when buying a property and sometimes it can be stressful. To help make the process a little easier for you, we’ve put together the below list as a guide when you’re thinking of investing in real estate in Brisbane.
- DETERMINE YOUR BUDGET – how much can you spend?
As a first step, meet with your bank, mortgage broker or finance consultant to arrange the best loan to suit your budget. Having a trusted financial consultant who can advise you will help you to go confidently into negotiations. Knowing your borrowing power is essential before making a bid or offer on a property, and obtaining loan pre-approval will keep you ahead of the buying pack. This is especially important if you plan to bid at an auction.
- RESEARCH YOUR PREFERRED AREA – where do you want to buy?
Prepare a short list of preferred suburbs and do some research to determine their suitability. If you plan to live in the property, consider if the location suits your lifestyle bearing in mind affordability, work and leisure requirements (be mindful that these can all change). If you are buying an investment property look at the supply and demand trends in the area, also look at the transport links, leisure and services available in the area – shopping centres, high performing schools, transport hubs etc.
Whether you’re buying for yourself or as an investment, it can sometimes be helpful to consider what is on offer just beyond your preferred area and whether a location “trade off” could be worthwhile. Upcoming development of transport links and leisure facilities could mean that other locations become more desirable as you research what is on offer.
- LOOK AT THE NUMBERS – will this property be a good investment for your future?
Study the sales history in your target suburbs (particularly supply and demand), attend open homes and keep track of prices that properties are currently achieving. Knowledge of the market will give you the confidence to purchase when you find a suitable property.
- TALK TO AN EXPERT – who can help you?
Meet with one of our professional Blocksidge Sales Consultants who will be able to advise you on any information you may need and who can provide insights and trends for your preferred locations. They can also show you how you can register on our website to automatically receive notification of any new property listings that hit the market.
The importance of getting solid legal advice when buying property cannot be overstated. A good conveyancer or solicitor can alert you to serious problems with the property that could cause the sale to fall through.
- WHEN YOU’VE FOUND THE ONE YOU WANT – what do you do?
Firstly, check, double check and triple check. Take every opportunity to inspect the property with eagle eyes – look between the lines (or cushions) for issues that might not have been immediately obvious. Take along a list of practical things to check – things like adequate power points, hole or cracks. That way you won’t end up with possible pain points down the line.
When you’ve finished checking and have decided on a property that suits your requirements, ask the agent to send a copy of the sale contract to you and your solicitor or conveyancer for consideration before making an offer. Checking the fine print is important.
- MAKE IT OFFICIAL – when do you submit an offer?
If you are considering making an offer, we recommend that you contact your Blocksidge Sales Consultant promptly as they can guide you on how to proceed and help you achieve your desired outcome.