Are you planning on purchasing property in 2018 and beyond?
Here are a few tips to get you achieving your property goals during the year and in years to come.
Purchasing property is a great investment and one that traditionally increases and continues to increase over time. Property tends to be a long-term investment for most people as their home or investment property for the future. It can also prove to be a great stepping stone to larger or better property as prices increase.
Saving for a deposit
This is probably the most difficult part but also the most necessary part of buying a property. The amount you need varies along with the property you are hoping the buy if it is to live in or as an investment. Currently, if you aim for 10% deposit as a general rule, but this will vary depending on circumstances.
Buying a Property
The first thing you will need to do is ensure that you have your finances ready. Speaking with a mortgage broker is the best way to get a clear indication of what you will need. The mortgage broker will let you know how much you can borrow and hopefully obtain a pre-approval for a mortgage.
You can then go looking at property with a clear understanding of what you can afford to buy.
Shopping for a Property
This is often the most difficult part and depending on where you are looking there may be a lot of competition. Different areas and types of property are more popular than others, as too are certain price points of property. Make sure to do some research on the suburbs where you are looking to buy.
Engage a Conveyancer
Choosing a conveyancer can be tricky, at Select Conveyancing we like to make the process as easy as possible. Contact Select Conveyancing