Research the property
It’s such a great feeling when you finally find the property you want to buy. However, before you rush to make an offer or attend the auction, make sure you have done your final checks.
Confirm whether the property you have chosen truly meets your needs and preferences. It’s a good idea to inspect as many properties as you can in the area so you can compare costs and become an informed buyer. In addition, think about the factors that are important to you and services you will need, such as public transport, schools, health services, shopping centres and cafes.
Make sure you have completed researching the area you are buying in. How are the surrounding suburbs expected to grow in value? Are there any proposed developments that may negatively impact the area? Look at comparable properties in the area to work out how much you’re prepared to pay for it. Talk to your Home Finance Manager who can help provide various Property and Suburb Reports to help with your research.
It’s important to get a feel for the market so that when it’s time to bid or make an offer, you’re confident that you’ve made a sound financial decision based on your needs.
Remember to pay attention to the sale method. Once you know whether it is an Auction or Private Sale (Private Treaty) you can work out the next steps you need to take to buy the property.
Things you should know
Credit criteria, fees, charges, terms and conditions apply. This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.
Property Reports and Guides: While such material is published with permission, Westpac is not responsible for its accuracy or completeness.