Five steps to finding your dream home
The process of buying a property can be difficult. As a prospective homebuyer, you might have a picture of your dream home in mind but find you’re spending precious time making a match.
Whilst the pursuit of your dream home can be tedious, it is a worthwhile endeavour. Hiring a buyer’s agent to work with you for the duration can help lessen the burden. Buyers’ agents are licensed real estate professionals who guide homebuyers through the process of buying a home. Unlike listing agents, who represent both buyers and sellers, a buyer’s agent works only for buyers.
Understanding the process of buying a house
For some people, buying their ideal home in the Northern Rivers and Tweed region is not their first real estate buying experience. Many are upgrading to their dream home from a starter home. It takes time, savings and planning for some to afford a home with all the bells and whistles of their dream house.
Even with prior experience, it is still advisable to consider working with a buyer’s agent when purchasing a property. They understand the process of buying a house, whether it is a starter home or a million-dollar luxury estate. The buyer’s agent is working for you and will go the extra mile to negotiate the best deal on your behalf.
Prospective homebuyers have some decisions to make before a buyer’s agent can assist them in finding their dream home. complete each of these easy steps before having further discussions with your buyer’s agent.
1. Get your finances in order
Purchasing a property is not an inexpensive venture. As a prospective buyers, you’ll want to conduct a thorough examination of your financial health. This includes talking with lenders about borrowing limits and any deposits necessary when buying a house. If you have a current home to sell, start the appraisal process, as any profit from the sale can be used to leverage financing for a new home.
Complete: Discuss a strategy for finding a dream home within your range with the agent.
2. Decide where you want to live
Explore different suburbs to find one that aligns with your desired amenities and community facilities.
Complete: Ask your buyer’s agent to identify neighbourhoods that meet your criteria and budget.
3. Understand the hidden costs
Buying a house costs a fair chunk of change, but some hidden expenditures can add up when buyers fail to consider them in their total budget. Building and pest inspections, conveyancing fees, and home and contents insurance are some of the costs prospective homebuyers forget to factor into their budgets.
Complete: Talk to your buyer’s agent about costs.
4. Write a ‘shopping list’ of your must-haves
Do you fancy a garage or a property that is within a short commute to the city centre? Do you desire a home with enough bedrooms to host guests? How about schools? Couples planning for children might wish to be located near the best options. If you love to cook, a luxury kitchen with top appliances might be a must-have feature. Every prospective homebuyer has a must-have list. While it might not be possible to tick off every item on the list, chances are good your agent can find a property that satisfies most of them.
Complete: Discuss your ‘shopping list’ with your buyer’s agent.
5. Choose who will negotiate or bid at auction for you
Buying a home can be an emotional venture. It can be easy to overspend your budget in the pursuit of the perfect property. It’s best to decide early if you want a third party to bid or negotiate on your behalf.
Complete: Talk to your buyer’s agent. A buyer’s agent can keep perspective by balancing their clients’ budgets with their dream home desires.
The final word on purchasing property
There are so many details to work through when buying your dream home. Sorting them all can mean the difference between staying within your budget or causing yourself financial strain for years to come. Working with a buyer’s agent can help. Reach out to our team today to get started on the search for your dream home.