IT’S the biggest investment most people will make in their lifetime, but how can you make sure you don’t pay too much for your dream home?
With more homes listed for sale across the country as owners rush to take profits ahead of the Christmas and New Year break, now’s the time to be in the market.
So, whether you’re planning to bid at auction or negotiate a private sale, don’t leave home without these tips from Selling Houses Australia and Love It Or List It Australia host Andrew Winter.
TIPS FOR PRIVATE TREATY BUYING
1. Know the seller’s motive
Andrew suggests asking why the vendor is selling in the first place.
“Is it a job move? A divorce? A forced sale? That could mean you’ve got a chance of getting a better deal.”
2. Be ready to buy
Andrew advises playing from a position of strength by making sure your finances are in order and you’re ready to buy.
His best tip? “NEVER put your best offer first. Always hold that one back.”
3. Get the ball rolling
If you like the property, move fast.
It might be the biggest financial investment of your life, but Andrew warns not to spend too much time thinking about it if you know what you want in a home and you find it.
“Get your offer in and start those negotiations or else you could miss out.”
TIPS FOR BUYING AT AUCTION
1. Read the fine print
“Undertake your due diligence very carefully and never be scared to ask for an extra inspection,” Andrew said.
2. Get your finances in order
Just as with purchasing a home via private treaty, being financially ready to buy is really important.
Andrew also suggests setting a maximum limit and sticking to it, so that you don’t get caught up in the emotion that comes with bidding at auction and end up paying too much or more than you can afford.
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