Get to know the area
Location is a critical factor in any property purchase, so it’s worth researching the area you’re thinking about buying into.
Ask the local council about development plans, and explore the suburb on foot. Consider proximity to schools, transport, shops and employment opportunities. These factors will support future capital growth.
Maintain a cool head
When you see a property that fits your criteria, take your time to inspect the place thoroughly , and keep a cool head about whether it really meets your needs. Visit the property more than once, preferably at different times of the day to get a feel for the level of natural light in the home and street noise.
Call in the experts
Arrange a professional pest and building inspection of any property you are serious about. It’s estimated that up to one in three homes can have faults, which could leave you with unexpected repair bills. If you’re buying a unit, organise a strata report that will highlight any building problems.
Next, research local property values – the last thing you need is to pay above the odds. Websites such as RP Data provide property price reports for individual suburbs.
Good research pay offs
All this research involves time and effort. However the pay-off is knowing exactly what you are buying, with the reassurance that you have paid the right price. Speak with an Aussie Broker for more ideas on researching your next property purchase.