Buying a house is a huge commitment. Yes, it’s a great investment and it will help set you up for your future but it is a huge commitment. Buying a house is definitely not something you should do impulsively because there could be quite long reaching ramifications.
Owning your own home is a dream for many Australians, it’s often one of the bucket list items that help mark the path into the grown up world – get married, buy a house, have children and get a dog (in no particular order in many cases). There are so many aspects to home ownership; financially, emotionally and socially that it pays to be prepared before taking the leap.
It is extremely important to be prepared for this major step in your life so we have put together some handy tips to remember when you embark on the exciting road to home ownership.
The number one top tip is to do your research, don’t jump in unprepared. Think about where you want to buy and why. Don’t necessarily trust in the salesman and advertising to guide you. Check out the web for suburb profile pages and investment pages on the real estate sites. They will be helpful for median property prices, the effect of interest rates, the average number of people looking in a suburb versus the number of properties for sale. This sort of information is going to help give you a bigger picture view of the potential of a suburb.
Check out your suburb, don’t just do your research online or in the papers. Take a drive and wander around the area. Make sure that the area has everything you are looking for, and if you are looking to move into a planned community in the early stages remember that not all of the facilities you want may be established. Can you live without the things that aren’t yet there? Is the move going to make life more stressful waiting for the rest of the infrastructure? Are the schools a reasonable distance, can you access shopping easily? Are you happy to trade these things off for the greater payoff?
Keep an open mind about surrounding suburbs. You may find that there’s nothing for you in your suburb, or perhaps the prices aren’t quite right. Take a look in the surrounding suburbs because there might be something to tick all of your boxes.
Talk to the experts, that’s what they are there for. Get a mortgage broker, they will be able to help you cut through the hype and find the best deal. They will be able to help you navigate the market and they will be able to help you apply for all of your entitlements.
Look carefully at inspections because professionally staged homes are staged to help you fall in love so you need to look beyond the staging and place your lifestyle in the space. Are the room sizes going to be suitable for your furniture, have you got room for family expansion, what is the natural lighting like and are the outside areas going to suit your lifestyle? The yards will be well presented but how much upkeep is required for that and can you commit?
Speaking of inspections another VERY important thing not to scrimp on is the Building Inspection. If you are buying an established home be sure to have a building inspection done. It will satisfy your peace of mind that the house you are buying is sound, and it will alert you to issues that may be costly down the track.
Planned communities are growing up around the country. These communities grow slowly and generally go up in stages. Lend Lease is an international company that has been creating planned communities for over 50 years, and in that time has masterplanned over 50 communities across Australia and internationally.
A masterplanned community brings together all of the infrastructure needed for a self-contained lifestyle close to shopping centres, schools, public transport and all the facilities that you need. The communities make the most of the natural beauty of their area.
There are masterplanned communities growing across the country right now with house and land packages in Albion Park and also in Springwood. If you are thinking about buying a home why not think about a whole new lifestyle in a planned community.