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Buying Tips

Buying a Home is a major financial investment. Be Prepared! 
BEFORE BUYING 
1. Prioritise your essential needs- make a “wish list” of the essential requirements for your new home. Detail your preferred location and features that you must have. 
2. How much is affordable?- Create a budget to guide you with deciding what is affordable to you in mortgage repayments. Consult with your mortgage provider to ascertain the amount you are able to borrow. Consider fees such a stamp duty, loan application fees, moving costs. Always over-estimate. Our website www.loanstar.com.au can assist you with any finance and lending questions. 
3. First Home Owner’s Grant- if you are a first home owner, apply for the First Home Owner’s Grant.
4. Find a Solicitor/Conveyancer- shop around for charges and services. Choose a company that will handle your purchase and deal with all legal aspects for you. 
5. Conduct Research – Research the area that you are looking to buy in. Drive around the neighbourhood, look at improvements taking place, convenience of the location and any details that are important to you. Research prices in the area, visit open houses, speak to Real Estate Agents, read the local papers.

DURING THE BUYING PROCESS 
1. Contract Time- ensure all conditions you need are included on your contract of sale, such as finance, building and pest. Contact your Solicitor/Conveyancer before signing or make it subject to their approval. 
2. Insurance- Arrange an insurance cover note as soon as possible. 
3. Inspections- Ensure that the building and pest inspections are done and that you read the reports thoroughly. 
4. Pre-settlement- You or your trusted representative should request a pre-settlement inspection before settlement takes place. Check the property is in the same condition as when you last inspected it and all inclusions are as per the contract.