Leader Articles: First Time Home Buying Basics

Purchasing a home is one of the most important, and most expensive, investments you will make. Finding the right home is a very important decision that should not be rushed.

The first step in buying a house is finding the property which is right for you. Sit down with a pen and paper and list all the features you will need. Consider the following guidelines:

The following article may be of use to those seeking the path to home ownership.

Location:

• Is the house close to schools, parks, shopping centres and other important places?

• Are there any distractions, such as major highways nearby?

Size :

•  Are there enough bedrooms and bathrooms to last not only now, but in the future?

•  Is there enough space to park?

Value and Maintenance:

• Check listings of other houses in the neighbourhood to get a good idea of the value of houses in the area.

• Make sure the building is in good condition. Hiring a building and pest inspector can be a good idea and will be needed before a bank will approve a loan.

Find a good agent:

A first-time homebuyer would be best off working with a real estate agent, no matter what kind of house they would like to buy.

A responsible, knowledgeable real estate agent will make your house-hunting much easier. A good real estate agent is usually a good negotiator, and will help you with the complicated paperwork involved in placing an offer on a house or in closing a deal.

To select a real estate agent, check with your friends and neighbors for their recommendations. Find an agent with whom you feel comfortable.

Use a solicitor:

Many people think they can save a few dollars by not using a solicitor. As a home is usually your most expensive purchase, it is wise to use a solicitor to save you from possibly costly mistakes.

Use a mortgage broker early:

Leader Finance has had major experience in helping new home owners, in finding the best loan, helping throughout the purchase process and also applying for the first home owners grant. Its piece of mind at no extra cost.

Potential purchasers can get pre-approved allowing them to go into the market place knowing what they can afford. A major advantage over others that don't use a mortgage broker.

General:

Keep in mind that you most likely will not find the "perfect" home. Experienced homebuyers will tell you, perfect homes are not found, they are made perfect through further work.

These are just some of the basics of home buying. Having these basics under your belt will give you a head start, though they are by no means the only parts to home buying.

Call Leader Finance toll free on 1800 88 39 29 to discuss your needs further.