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Your Quick Guide to Buying a Home

Buying a home is a scary prospect for most people. Not only is a home probably the most expensive purchase you will ever make, it also comes with a mountain of paperwork and legal obligations.

Not surprisingly, many home buyers get completely stressed out and totally confused by the process. It is easy to see why - your finances, legal status and lifestyle can be completely disrupted when purchasing a property.



How to Stay on Track When Buying a Home

These tips will not eliminate all the hassles involved with buying a home, but they will make the process easier and much more manageable.

  • Research

    First, make sure you carefully research property prices and the market in your desired areas. This can be done by going through property listings online and talking to real estate agents.

  • Find Help

    Ask your friends, family and others you know for help and advice. If you know somebody who has a lot of knowledge about the property market, pick their brain.

  • Subscribe to Real Estate Mailing Lists

    They will send you notifications every time there is a new listing or open house. This one step will help you locate properties faster and give you a good feel for the local market.

  • Property Apps

    Property apps such as Realestate.com (Android or iOS) and Domain (Android or iOS) can also help you locate homes for sale in your desired areas. Make sure you have at least one of these apps on your smartphone.

  • Use Our Calculators

    You should certainly check out Holiday Coast's borrowing power and loan repayment calculators to determine how much you can afford to borrow.

    If you really want to simplify the whole borrowing process, one of Holiday Coast’s Mobile Lending Specialists can help. These specialists will come to your home, or meet you at your favourite coffee shop, outside of normal banking hours. Just call 1300 365 724 to book an appointment.

    You can also fill out this form to apply online. If you’re not sure if you would qualify for a home loan, email ubelong@hccu.com.au for an obligation free assessment based on your unique circumstances.

  • Hire a Professional

    Find a good solicitor or conveyancer as soon as you find a home you want to buy. These professionals will make your life far easier by handling all the confusing paperwork.

  • Don’t Sign Just Yet!

    Do not sign any contracts or place a deposit until you have passed the paperwork by your solicitor or conveyancer.

  • Inspections

    Make sure that the property and pest inspections are complete before you sign the contract. Be prepared to walk away from the deal if any big issues are discovered.

  • Insurance

    Purchase a home and contents insurance policy for your property and arrange for the policy to commence on the day you move in.

    Holiday Coast partners with Allianz for all matters insurance; click here for more information or fill out this form to receive an online quote.

  • Settlement Date

    Stay in close contact with your solicitor or conveyancer so you will be able to settle on the property as quickly as possible. This is particularly important when it comes time to exchange contracts, formalise the agreement, and arrange a final inspection.

    After settlement you will be given the keys to your new home!

    Everyone here at Holiday Coast is ready to help, so if you have any questions about anything mentioned in this article, don’t hesitate to call us at 1300 365 724.

 

This article provides general information only and should not be relied upon as financial product advice.

 

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