How good is spring? Flowers start to blossom, the sun returns out of the gloomy depths of winter and the property market hits full swing.
With the latter in mind, for anybody looking to buy real estate this spring, here are my three tips that will hold you in good stead for your endeavours.
Firstly, I recommend you speak to your bank or finance broker and get conditional pre-approval for a home loan.
Conditional pre-approval is when a lender indicates that you’re eligible for a home loan up to a certain amount based on your current situation.
I suggest getting your pre-approval sorted before beginning any property search because it provides you with clarity and direction as to what you can actually afford.
Furthermore, it demonstrates a level of seriousness which will boost your chances of securing your dream home when negotiating with agents.
Secondly, before selecting the property you’re going to invest hundreds of thousands in, make sure you’ve done your research.
Ultimately, people buy property not just because they need a place of residence but because they also want to make money.
Treat your purchase like an investment and be mindful of the tastes of others in case you opt to sell your property down the track.
Do your due diligence and find out why the vendor’s selling, look up recent local comparable sales as well as nearby attractions and amenities.
Lastly, always remember that thousands of properties are listed for sale each week which means you don’t have to rush any decisions.
By being patient you’ll learn which properties are more popular than others, why they generate more interest and how long they generally stay on the market for.
Savvy investors take their time, purchase within their means and thoroughly research the market so that they can continue living their desired lifestyle once they’ve bought a home.
I encourage you all to follow suit this spring.
Happy house hunting!
Ayda Shabanz xx