You’ve finally decided you’re ready to buy a house – an exciting and, for many, an anxious time. But it doesn’t have to be! Get your head in the game with these top tips from a Sydney local.

Know Your Competition

buy home terrace Sydney auctionWhether it’s a wrestling match or a dance off, you want to know just what you’re up against, and the same goes for buying property.

Sydney has quickly become one of the top 10 most expensive cities to live in globally, so it pays to do your homework instead of rushing in cavalier and blowing it.

So before you even think of putting down a deposit, get a feel for your suburbs of choice by inspecting all open properties in the area and attending every auction you can, to give you an idea of what space, location and desirable features sell for.

In such a competitive market, it can help to have someone on your side – so why not get in touch with a real estate agent of your choice in your ideal suburb?

These guys will keep you informed, offer you advice free of charge and can even let you know about properties before they hit the market.

Steady As She Goes

You’ve kept your cool and investigated the local market, so now you can begin homing in on, uh, homes.semi home property real estate sydney buy

Once you find your dream property, you’re really going to need some self control – it can be so easy at this point to throw away all your hard work by buying a property before you’ve properly scoured and evaluated every facet of it.

These are the standard checks that EVERY property buyer should make:

  • Get a thorough, professional building and pest inspection
  • Have either a solicitor or conveyancer read over the sale contract
  • Contact council about any outstanding developments on neighbouring houses
  • Inspect the property at day and night both during the week and on weekends

Once you’ve completed these steps, you can be fairly sure that you will have uncovered any major flaws in the property and you can feel confident that you’re getting exactly what you pay for.

Closing the deal

pool house for sale selling buying property Sydney agentThe option of a private sale versus bidding at auction is often at the whim of the seller, and each has its advantages and disadvantages.

If you’re buying a house through a private sale, you’ve got the benefit of (relatively) plenty of time to make a decision, not rashly paying above your budget and a certain amount of flexibility and negotiation.

If you plan to obtain your future home via auction, be sure to read Fair Trading’s ‘Bidder’s Guide‘ before you register.

In short, the most important things to remember about buying at auction are that there is no ‘cooling off’ period, you can expect to pay a 10% deposit on the day if you are successful and all your pre-purchase inspections should be complete before you bid.

Published by Taylor

Local dLook correspondent Taylor gives a home grown look at the city that was built on rock and roll (but mostly The Rocks). Check her our in dLook's Local Look updates on Digital Editions

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