The Search Begins
Once you have finalised your wish list, the search can begin for
your dream home. You will now need to:
Investigate loan options,
Apply for a loan,
Hunt for a home
Buyers' agents, and
Meet with real estate agents.
Investigate loan options
If you are serious about buying a home in the immediate future
it is a good idea to arrange provisional finance. This involves
selecting a lender and receiving a loan approval, a process that
ensures you will be able to access a loan of agreed value when you
come to purchase a home.
Choosing the right home loan can be a daunting task. With so many
different types of loans and lenders to choose from, it would be
easy to simply select the loan that offers the lowest interest rate.
For greater peace of mind, however, you should also consider the
features and flexibility of the loan. This will help to ensure that
the loan you enter into will suit both your present needs and your
future lifestyle.
For more information on choosing a loan, click here.
Apply for a loan
Once you have found the best lender, make a loan application. If
approved, the bank will give you a commitment in writing, stating
that you have approval in principle subject to satisfactory valuation
of your final choice. This is the best way to avoid the disappointment
of discovering at the last minute that you can't get a loan.
For more information on applying for a loan, click here.
Hunt for a home
There are now many ways of accessing information on the property
market. Of these, the Internet is fast becoming the most popular
means of finding details and images of real estate for sale.
Use our search for a home feature to access properties listed on
the Internet. You will be asked to provide a price range and ideal
property location/s. Providing this information helps narrow your
search, ensuring you only need view properties matching your specific
criteria.
Other sources for details on properties for sale are:
Metropolitan newspapers,
Suburban/local newspapers,
Real estate magazines,
Real estate agents' windows,
'For Sale' sign boards, and
Friends and neighbours.
If you are confused by any of the common terms in property advertisements,
use our glossary.
One of the first things you will do when you start looking at property
listings is to check that the general price of houses in your chosen
area is within the range you can offer. If prices are too high,
then you may have to lower your expectations or start looking in
another suburb.
Driving around those areas you would like
to live is also a good tactic. You will be amazed at how many properties
for sale you can spot when you're on the lookout. Write down the
property and real estate agent's details and follow up any promising
finds with the agents concerned.
To find out which agents operate within your suburb/s of interest,
use our find an agent feature.
Buyers' agents
About Buyers' Agents
Real estate Buyers' Agents are licensed real estate agencies who
work exclusively to help people buy property. They search for suitable
properties for each buyer individually and will organise all the
steps involved in buying real estate - from dealing with the selling
agents, to negotiating or bidding at auction, and arranging building
and pest inspections, conveyancing and even finance and removals.
If you are looking to buy a home or investment property but don't
have the time to devote to it, or aren't confident about buying
real estate, consider using a Buyers' Agent.
The Real Estate Buyers' Agents Association (REBAA) has been established
to help introduce Australians to the role of Buyers' Agents and
to maintain industry standards. You can search for Buyers' Agents
in your city by Visiting our Buyers Agents page.
Meet with real estate agents
Instead
of spending time scanning through real estate agent's advertisements
and looking through their window displays, why not let the agents
do some of the work for you?
Approach agents and let them know what you are looking for. Make
sure you supply each agent with appreciable detail on what you require
in a home. Perhaps even provide them a copy of your wish list.
The more information you give out, the more chance there is of
the agent matching you to the perfect property. You, and the agent,
will also be spared a great deal of time by dealing only with promising
houses.
Another notable advantage of telling agents what you are looking
for in a house is that you are likely to hear about newly listed
properties soon after they come onto the market. That is, agents
will remember your needs and contact you as soon as a suitable house
goes up for sale. This is a great way to keep at the front of the
queue!
The next step is to take a look at your prospective properties.
|
.
