Checklist before you Start House Huntingwww.findmyhomebrisbane.com

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Owning a home in Brisbane is almost a need. While we can rent out our living space before we can afford to buy, the sensible choice is the latter. Because of the real estate price tags, buying a house is not as easy as we want it to be. Thus, a real estate acquisition one of the major transaction you’ll make in your life.

Most people would right ahead and search the market for their dream home. This can be a waste of time and effort. Before you start your home search, you first have to make sure that you are ready to buy a house.

Here is a short checklist that can help you assess your readiness.

Everyone needs a place to live, but not all are destined to be homeowners. Before you buy a house, make sure that you are committed to that piece of property. Think twice of buying a house if you are one of the following:

Can’t stay in one place for a long time. This does not only pertains to travelling. Some people have the need to move to somewhere else every few months.

Can’t commit to the long term financial obligation that comes with the home. Mortgage payments can be as long as 30 years and interest rates can hike up the payment amount.

Now willing to pay the additional cost of interest for the home loan. You can avoid interest expense and long term payments by buying in cash, you can wait up buying and save for it first.

Get on the homeowner mindset

Learn more about your future homeBuyer’s remorse is a sad reality in real estate. Once you’ve signed the contracts, it is almost impossible to get out of it. Take the time to learn of your needs and wants in a home in order to avoid bad decisions in buying. Here are some of the things you need to consider in a home in Brisbane;

Location and neighborhood. Where do you want to live? Do you want the quiet and space of a suburban community? Do you need to be near transportation hubs? Have to be near quality schools for the children? Do you prefer a park or pubs next door?

Rooms and space. How many rooms do you need? Does your home have to have a home office, a large backyard, or a breakfast nook? Are you the type who needs a room for everything or one who wants everything in a room?

Make legal matters clear

Married and common-law couples usually buy real estate property together. This means both names appear in the contract as co-owners.

Make sure that you discuss this thoroughly with your partner. You can always opt to only have one name in the contract.

However you choose to go, it will have a financial impact, as whoever is/are on the contract as buyer/s will be the owner/s and liable to paying the mortgage.

Consult with a lawyer or a real estate agent in Brisbane to know more about the legal aspects of buying a house.

Can you afford to buy a house?

Lastly, assess your financial capability of buying a home. Do you have enough savings of the downpayment? Can you get a mortgage on the balance? Consult with a mortgage broker or your banker to help determine the kind of house you can buy. A full review of your financial position will include a check on your credit score, your savings that can pay for downpayment, your employment status, and the current condition of the market. After the review, your banker or broker will tell you how much home you can afford. Queensland also offers grant assistance to first time homebuyers or builders.

At this point, you can now match the home that you want to the home that you can afford to buy. If you think you can go ahead with the home purchase, get a pre-approval from your bank. This makes it easier for you and your real estate agent to make offers and close the deal once you find your dream home.

About us

FindMyHome Brisbane helps you find your dream home. We are House and Land property experts, here to help you with unbiased, straight-forward, and professional property advice. 

We are a completely independent third party which connects you with the best new property Brisbane has to offer. We save you time, by assisting with your research, and money, by using our bulk buying power with developers and builders.

FindMyHome Brisbane & Brisbane REPhone :- 07 3395 2747

Email id :- hello@brisbanere.com.au

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