If you’re thinking of starting a family or moving into a more desirable neighbourhood, you will need to look at some property listings to see which suits you best. But there is a long process involved in purchasing a property and you have to make a good decision. This involves weighing different options and looking at the pros and cons of potential properties.
First, you will need to see what your budget is. You can contact your bank or consult an independent financial advisor so that you can find out which amount you can afford and what type of mortgage you should go for. There are also additional expenses that occur during the process such as stamp duty. Survey fees, removal costs, home insurance, lender valuation, furnishing costs etc. It’s only when you figure out how much you can afford that you can then look into properties that you can afford. If you have your eye on Hawthorn real estate, you need to see if you can afford it and what the additional charges are that will affect you during the whole purchasing process.
You need to find what issues there are with your personal credit and address them before you meet with a lender or advisor. It is better to have explanatory notes for delayed or missed payments so that they will not have a bigger negative impact. You need to understand the importance of having an up to date address history. Your employment status will also matter. If you’re an entrepreneur, you will need to have about 2 to 3 years of audited accounts. You will also need a confirmation of the date of return and salary if you’re on maternity leave. You have to figure out your circumstances and how best to respond to it so you can present a respectable front.
You may have singled out a house or two from the houses for sale. You need to view them several times on different times of day. You have to know what your priorities are. You may be looking for proximity to public transportation, good local schools, proximity to work and other amenities. Think about the location as well. Maybe you need to be much closer to the city or you’re looking for something closer to nature. It is very important to figure out what your requirements are such as the number of bedrooms, bathrooms, parking, garden space etc. But you have to be realistic about your expectations as they have to coincide with the affordability factor. You will have to compromise on certain things, however. It is best to be flexible about your options so that you have a wide range of choices to select from.