Spending your weekends visiting open-for-inspection after open-for-inspection can be exhausting and overwhelming. Many first-time home buyers (and even seasoned ones) often find themselves in this exact situation, however. The good news is that it’s just a mere case of over-inspecting and under-researching and can be remedied with a few tweaks to your property search.
Use these five tips to narrow down your property search, so you’re only spending your time visiting homes that immediately look as though they’ll meet your needs and fit within your budget.
These tips will give you some of your weekends back, saving you time and hopefully money.
- Look at the Map
If you definitely know you don’t want a house next to a busy road or the train, have a look at the map before you enquire further to find out more information about the street and surrounds.
Check out landmarks, nearby parks and restaurants, bike paths, etc., to make sure that the property ticks your location box.
- Phone the Listed Agent Ahead of Time
Phone the listed agent before you head out of the open-for-inspection to make sure that you can still have a look at it and that the date and time hasn’t changed. This will minimise any frustration plus give you an opportunity to ask additional questions and get even more information about the property beforehand.
- Do Your Market Research
Study the market, especially in the areas you’re interested in buying. Follow properties for sale from beginning to end to see what they’re listed at and what they sell for. This will give you a good idea of how accurate the initial advertised prices are. By keeping tabs on properties, you may even find one that has dropped in price that has all of your must-haves.
- Be Open to Compromises
When you’re searching for a property to buy, you’ll undoubtedly have your non-negotiables, but you should also be open to compromise on certain aspects. Maybe after some consideration, you decide that a property that doesn’t have a fully upgraded kitchen or bathroom isn’t the worst thing. It gives you the opportunity to renovate your home to suit your tastes and preferences.
Look for properties that have the majority of your must-haves and things that you’re ok with improving or leaving as is.
- Be Clear on Your Budget
Spend time really diving into what your budget is and what you can afford both with the initial purchase price and long-term maintenance and upkeep. Don’t look at properties that are significantly over your budget, and if you’re interested in a property you think you might be able to negotiate down in price, do some additional research on home sales in the area.
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If you have questions about real estate or rural real estate investment, contact us to speak to a qualified real estate agent. We’d be happy to offer advice.