August 12, 2017

Conveyancing: What am I actually looking to buy?

So you’re in the market to buy a home – be it a stand-alone residence or a unit.

The most important step you need to take before you embark on your journey to buy your new home is to set out clear parameters of what you want to get out of your search.

Property investors generally have a good idea of what they are looking for – location, the number of bedrooms, the price range, the likely return on the investment and so on.

If you’re a first time buyer, wanting to upgrade the family home or wanting to downsize to something more manageable as an empty nester, then you need clear guide lines for your purchase. Taking a stab in the dark is not for you.

Take the time to set out what you are really looking for but above all make sure that you don’t overshoot. Don’t look for something that you can’t afford or does not suit your needs.

If you want access to schools or a university then locate those institutions on a map and radiate out from there as to how far you want to be away from the actual location of the institution.

If transport services, health care facilities or other services are important then apply the same test. How frequent is the bus service, where is the nearest shopping centre and so on.

Above all, is the property which appeals most to you the one that really suits your needs? Compromise is always important in a property search. Rarely will one particular property meet all your needs.

Always choose carefully, this is not like getting a book from the library – it can’t be changed without difficulty and without great expense.

For more helpful hints on buying property see our Ebook – The Property Market and you – a Buyer’s perspective.