Will 2018 be your year for property? If you plan to get serious about entering the market either as a first time buyer, investor or want to upgrade your home to the next level, you might like to consider these new year resolutions.
If you want to buy a property in 2018, make sure you’re ready financially and that you have a rational plan that doesn’t over extend your capacity.
Pay down bad debt as much as you can including credit cards and other high interest loans, draw up a budget and stick to it and identify where you can be saving for a deposit.
Make sure you have a solid savings plan, and enough saved for a back-up plan if things go wrong. Insurance is worth considering. If something happened to you, could you still afford the mortgage repayments you’re looking to take on?
Get financial advice from a professional and understand exactly how much money you can borrow and repay comfortably before you start falling in love with properties. Don’t set yourself up for disappointment by giving yourself no room to move when you’ve found the perfect property.
It’s a good idea to get to know the area, you are planning on purchasing in. Talking to the locals is a good way to get to know the best places to eat, drink, shop, work, play and relax.
Before you even find a property you love, shop around and find out which bank’s deals and home loan products are best for your financial situation and property goals.
No matter how smart and seasoned you are, buying and investing in real estate isn’t something to do on your own. Work with a local expert, who’ll have your interests at heart and who can put you in touch with a reliable conveyancer, lawyer and accountant, if you don’t already have contacts.
Home hunting and buying is a big commitment that involves a lot of paperwork, furrowing and lots of emotions including stress, disappointment, and frustration and at the end of the day when you strike a deal, relief, satisfaction and a sense of security.
Give yourself the time and space to enjoy the search, the discovery, and the moment it becomes yours.
I’m always happy to arrange an appraisal of your property either for rental or sale and to help with style and maintenance tips that will give you the edge in the market. Phone me on 0400 221 592 or email Jamie.email@example.com