Conduct Your Research
Buying a home is a major milestone and should be an enjoyable and exciting experience. If you’re
looking for your dream home, a well-positioned investment property or a suitable development site,
it’s time to learn how to recognise value and then get creative with your buying strategy and the way
you negotiate. With time, care, and research, you can take control of the buying process.
Find a Good Agent
Take the time to do your homework, choose your area carefully then find a good agent in the area
and let them know your specific requirements and budget. Do not be hesitant about talking to your
Agent as he/she can alert you to any new listings including some off-market development sites.
Prepare a short list of your preferred suburbs or areas that suit your lifestyle and budget and be very
clear about what matters most to you. Alternatively, if you are a developer and want to target a
specific suburb for development sites then it may be best to meet with your Agent in person and map
out an individual strategy going forward that suits your needs.
Do the Legwork
Do some field work to make sure the suburb’s right for you. Walk around the area you’re thinking of
buying in and assess the atmosphere and local surroundings. If you’re looking to buy a property in an
area where you’re already living, take a close look at other properties that go up for sale nearby.
Engage the services of an agent who has access to detailed sales data and is experienced in valuing
local property in the area. Look at how they’re marketed, how well inspections are attended and how
long they spend on the market. This will give you an indication of how the market is doing in your
neighbourhood and can guide you on the price you should be paying for a property close by.
When you find the property of your dreams it is important to conduct your due diligence – have your
solicitor or conveyancer look at a copy of the contract of sale, organise a pest/building inspection
and/or strata report and make sure your finance is in place so you can put down a deposit and settle
on the property in the required time period. In the case of acquiring a development site your agent
can assist you with zoning maps, Information Memorandum, site survey and negotiate some time up
front with the vendor for a more detailed due diligence period before securing the site.
Let your agent negotiate on your behalf - good agents are experienced negotiators. Let them do their
job and get you the very best deal they can. Is Angela a good negotiator? Click here to find out.