7 yrs, 1 mth ago

buying your first place

Hi all,

I’m looking at buying my very first place. Does any one have any tips or things I should consider?

Ta muchly.

6 comments 32 voices

Replies

  • 2 yrs, 8 mths ago

    This is Straya Mate, None of us is buying a house in Turkey yeah?

  • 2 yrs, 8 mths ago

    I’ve reported Bibikalka‘s post as spam. Please do not click on the blue link.

  • 7 yrs, 1 mth ago

    Thanks very much for the tips guys. I’m finding the process a little overwhelming but hopefully learning from other people should alleviate any problems!

  • 7 yrs, 1 mth ago

    I’d just say with the banks and approval, sometimes it’s still safer to put in an offer subject to finance with your banks name.
    Even though your banks can give you a generic pre:approval amount, in the fine print there is still subject to final property approval etc and pre:approvals usually only last a certain period of time, if you do put in an unconditional offer you can loose your deposit if the loan falls through, I don’t want to scare you, just something to keep in mind.

    Also if you really love a place and it goes to auction, if your finances are almost in place it can be a good idea to register as a bidder, if it gets passed in you will generally be top of the list to make an offer.

    Also a building inspection can be worthwhile, make sure they are thorough, ask around for a recommendation, I know a few people who have found big white ant problems, that can be very costly.

  • 7 yrs, 1 mth ago

    I would make sure you have approval first before even looking so that way if you make an offer you’re all set. Also make sure if its a house that you get an inspector for like termites, building, pipes etc as somethings you can’t see physically and can then end up costing down the track…

  • 7 yrs, 1 mth ago

    *Have at least $20000 extra for settlement day, the amount of times things pop up that you need to pay at the last second is ridiculous.
    *Do a check with council to see future plans for the area/streets, often they show in 10 years etc a highway entrance or similar can be as close as across the road.
    *Check with your insurance company & local police for crime levels in that location (when I had a Samoan guy chasing his wife down the street with a shotgun I found out this was a regular occurrence)
    *When you do decide to buy make sure you have a seperate account for things that appear working at inspections but are very temporary fixes

    Good luck!

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