Top 5 Real Estate Buying Tips
Every Australian’s property dream is different, but regardless, investing in property can involve a significant financial outlay. That’s why there are a range of factors that need to be considered to ensure the whole process runs as smoothly as possible. So whether you're buying your first home, upgrading, or considering an investment property, here are our Top 5 real estate buying tips for purchasing a home in Brisbane.
Tip #1 - Do Your Research
When contemplating buying a property, research things like median property prices, the impact of interest rates, suburb profiles, trends over time, and the average number of property searches in the suburb you’re interested in versus the actual number of properties for sale. This can give you great insight, help you gain an understanding of when the time is right for you to buy, and give you the confidence to trust not only our team’s recommendations, but your final purchase as well.
You should also think outside the box when considering possible locations, as windows of opportunity often open up when you’re not following the norm. Cooler marketing periods, alternative locations at the bottom of pricing cycles and quieter months can all mean less competition and a possible ‘diamond in the rough’ purchase for you!
Tip #2 – Location, Location, Location
Location is of crucial importance when buying a home, and can have a major impact on price and demand. You should be very clear about what factors are important to you and what your needs are. For example, whether they’re based on demographics, lifestyle or access to major roads, public transport, shopping hubs or schools. Shortlist suburbs that deliver on your needs and then do some ‘field work’ – walk around the area, grab a coffee at a nearby café or chat to some of the locals to help you get a better ‘feel’ for the place.
You should also look closely at possible negatives, which can include its proximity to airports and waste facilities, and what developments or infrastructure is planned around the area. The last thing you need is to buy a dream home that in future will be in the middle of a future freeway.
Tip #3 - Take Advice from The Experts
Progressive innovators in the industry, North South Real Estate are not only at the forefront of facilitating premium property transactions, we are renowned for setting a new benchmark in client care, and most importantly, in result optimisation.
Our experienced agents have access to the latest in marketing news and trends, we offer expert tips if you’re in the market to buy a new home, and we can formulise a strategic action plan to meet both your tailored needs and personalised budget.
Tip #4 - Monitor Nearby Activity
If you know which area you are looking to buy a property in, take a close look at other listings nearby. Look at how they’re marketed, how long they spend on the market, and how well inspections are attended. If your target suburb is out of budget, you should also consider more affordable neighbouring suburbs. Reading local publications, connecting with local websites, and talking to locals can also give you more of an idea of a suburb’s potential, and what you might pay for a property close by.
Tip #5 - Be a Smart Inspector
A seller is naturally going to prepare their home for inspections in order for it to look its absolute best when you view it. However, looking beyond the styling and ‘staging’ may help you make a more informed purchasing decision when buying a property. Take a check list along when you’re inspecting properties (our expert team can offer you advice you this) and tick off things like storage and adequate power points, take note of anything causing concern like damp ceilings or uneven floors, and make sure you’re prepared to pay for a full building and a pest inspection as well.
With over 12 years experience in executive property management in the Brisbane market, we believe in continually improving and redefining the benchmark for investors, homeowners and tenants Australia-wide.
Please don’t hesitate to contact us for professional advice on all of your executive property needs.
Disclaimer: Please note that the information provided is general information only and should not be relied upon as legal advice as individual circumstances may differ.