When looking to buy a home you often have to make some kind of compromise. It’s very rare to find a home that meets all of your needs, but it can be very frustrating when you’re not sure on the types of compromises you should make.
You should be open to compromising on some things when buying, but there are also a few things that you shouldn’t budge on.
Once you have worked out your budget – stick to it! It’s so easy to get carried away when you find a property just out of your price range that you really want, but when you have decided on your price range you need to stay within it (unless of course you save more money). You don’t want to find yourself struggling to make repayments or have no funds available for other costs associated with buying a property such as stamp duty, moving costs and setting up utilities etc.
Location is the most important consideration when buying a property but sometimes you need to look a few suburbs away from your chosen suburb to find a property within your budget. In fact, sometimes properties can be significantly cheaper just one suburb away.
To help you decide on the most suitable suburbs, figure out what your daily commute to work will be like, as this will have a big impact on your daily life. Local schools and amenities are also worth looking at when deciding on the right suburb.
Getting professional help
It can be tempting to forgo pest and building inspections to save a little bit of money, but you could risk losing a lot more in the long run. Professional building inspectors can pick up on problems that you might not have noticed and can save you from making a very costly mistake.
Your list of non-negotiables
Everybody’s non-negotiable list will be a little different, and you might be more willing to compromise on some things over others. For some buyers, property size is extremely important and they will want a big backyard with plenty of room for pets and the kids, with location being a less important factor. Others want the convenience of living inner city and will be more willing to compromise on property type to get the chance to live in their favourite neighbourhood.
Think about what is important to you and try to be patient if you have been looking for a little while – the property that is just right for you could be about to come onto the market.
If you’re looking for a home in the Bacchus Marsh area then don’t forget to get in touch with the Arbee Real Estate team to find out about properties currently on the market.