Property

What To Do Before Buying a Property

Buying a property is a huge investment, whether you’re buying it to live in with your family or planning to rent it out to private tenants. Whatever your plans, there’s a lot of money at stake and some big decisions to make. It’s different from renting a house since you can’t just leave the property with given notice, and you’re responsible for everything which could potentially go wrong within your house. Here are some of the important things you should do before you buy any type of property.

 

Shop around

 Don’t just settle for the first or second house you view. Yes, it might be the ideal home for you and your family, but there might be something better around the corner. The best way to find out what’s available in the area and what the standards are like is to view as many properties as possible. This can be time-consuming and requires a bit of effort and energy, but you’ll be happy that you shopped around when you find the perfect house for you.

 

Check your finances

 When you’re buying a house, it’s not just the cost of the property itself that you’ll have to find money for. You also need to pay a solicitor to sort out the legal side of things, such as ownership of the house. You might need to pay other fees associated with buying the property, and you should definitely look into pre-purchase building inspections in Perth. When you’re ready to start looking for a house to buy, sit down with a piece of paper (and any other people who are buying the property too, such as your partner) and draw up a budget and plan for your finances. It might be the case that you need to try and borrow more money from the bank or wait a few more months until you’ve saved up enough cash for the upfront costs involved.

 

Get an inspection

 Before you buy any property, you should have it inspected by a professional to make sure there is no severe damage and no major problems with the building. Not only does this help you to decide whether or not to buy the property, but if you do ahead and become the new owner, you’ll have a good idea of how much money needs to be spent on it in order to get it back into its peak condition.

 

Decide whether it’s somewhere you want to live

 You shouldn’t decide to buy a property based on how good the sales tactics are from the estate agent, and you shouldn’t base it on how nice the current owners are either. Yes, this could mean that they’ve looked after the house very well during their years living there, but they won’t be there when you move in and you’ll be left with the views from the window, any leaks and damp patches and all the things you love and hate about the property itself.

About the author

Oliver Revilo