The idea of buying your first home can be daunting, but in America, we’re lucky enough to have an excellent agent system that means you don’t have to fear making basic errors.
An experienced buyer’s agent will also guide you towards the most suitable properties that align with your criteria. And they’ll make sure you don’t pay too much, as well.
As an agent in your neighborhood, I’ve had significant experience judging the suitability of a property for my clients. I can also guide you on the quality of the building and whether there’s a risk of big maintenance bills down the track.
If you get serious, we’ll call in the experts to check out everything.
It’s natural for a first-time buyer to be excited and anxious about purchasing their own home. So, I’ve laid out five quick tips to help ease any concerns.
Be the deal-maker
Your research should give you an idea of your target property’s value. So, make a smart bid, not a stupid one. Negotiation is a balancing act, and a good agent will be at your side. Here are the basic principles: Don’t go too low as this insults the owner, but give yourself headroom to increase an offer. Don’t go high to win the deal. Your bank may reject your loan if it thinks you’re paying too much.
Get leverage
Every aspect of a deal has a value attached to it. You often can use a closing date as a point of negotiation. If you can be flexible, an owner will sometimes accept a lower price, or take your offer on the spot, if they need to settle quickly or have a delayed move.
Know precisely what you’re buying
Focus on the fine print. If you want them, make sure items such as curtains, light fixtures and appliances come with the property. Get everything in writing as part of the sales contract.
Seek a home warranty
Sellers will sometimes buy a warranty for around $500 (depending on the property). It will give you peace of mind if appliances or the heating/cooling systems go wrong after you’ve moved in. This 12-month insurance can also cover repairs. Buyers won’t get this deal every time, but it’s worth asking as part of the negotiation.
Call in the experts
It’s natural for you to be concerned about the quality of a building when you’re laying out big bucks. Home repairs can get expensive. So, we’ll call in a builder, roofer and pest inspector to check the property thoroughly. It’s best to be on-site during these inspections. You discover much more about the property by talking with these inspectors before they deliver a written report.