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WEEKLY PROPERTY UPDATE – #015

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9  January 2015

Five New Year’s resolutions for home buyers

Five New Year’s resolutions for home buyers: Patrick Bright

Jennifer Duke – Property Observer

There are numerous pitfalls that can take their toll financially as well as emotionally, particularly for those prospective buyers who have been searching for an ideal property for many months.

Here are  five resolutions for home buyers to make this year.

  1. Don’t procrastinate

    “Probably the biggest mistake buyers make is procrastinating,” explains Bright.
    “If you dither you’re increasing your chances of missing a great buy. As long as the property you have found meets your list of requirements and you’re confident you’ve seen enough comparable properties (ideally around 100) so you know where value sits then don’t hesitate. More often than not, great deals don’t last long especially in a rising market.”

  2. Search with finance approval

    “Searching without finance approval can only lead to disappointment. It’s really frustrating to watch the home you want to buy go to someone else whilst you’re arranging your finance. In any case how do you know how much you can afford if you haven’t got finance approved in writing?”

  3. Know the area before you buy

    He warns that many people pay too much when they don’t know the area well. The solution is to research thoroughly.

  4. Don’t listen to family members or friends

    While acquaintances can be well intentioned, their advice may not always be sound.
    Many people have such a profound fear of failure that they’d rather you did nothing than make a mistake but if you’ve done your research properly then you should have nothing to worry about.

  5. Don’t make a fed up purchase

    Even if you have been searching for a long period of time, do not settle and buy the wrong thing.

    It is very expensive to get it wrong, not to mention all the time and effort wasted going through the process of buying and selling which will cost you around 10% of the purchase price. For a fraction of that cost you can get some professional help and more than likely buy a lot better for a lot less than you would if you handled the negotiations on your own.

HAPPY BUYING!!

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FAVOURITE PICS OF THE WEEK !!

photo 11

Credit: revistaformas

photo 8

Credit: adersignersmind

photo 7

Credit: boss_homes

photo 12

Credit: Greg Natale

photo 6

Credit: armadilloandco

photo 5

Credit: globewest

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Credit: lucdesign

photo 2

Credit: adesignersmind

photo 1

Credit: 4decoration

photo 10

Credit: joshi_shashank

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I am a mother of 2 living in the Eastern Suburbs of Sydney. My two passions are Interior Design and Real Estate. I have been fortunate to have had the opportunity to work in both industries. I started off working in Interior Design assisting Interior Designer Darren Palmer which was amazing and a great experience. What I loved most was working with such a creative sole as Darren and having the opportunity to source and work with gorgeous products. From there I continued with my other passion in Real Estate. I am now a licenced Real Estate Agent with Raine and Horne Double Bay/Bondi Beach working within the Goldman team (Mark and Barry Goldman). As the saying goes:- "It's a beautiful thing when a career and a passion come together" So very true for me and I feel very fortunate to be doing something that I love everyday around my kids and that's also rewarding.

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