Tips for buying

Whether you have spent years saving and preparing to buy a home, or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless. You can find the answers – and peace of mind – by working with RE/MAX, an industry leader in experience and service. Here are some tips to help you with the process of becoming a home owner:

Sort out your finances

Find out exactly how much you can borrow before you even start looking for a home. You can do some simple calculations on lender websites or you can take it a step further and prequalify for a loan amount. This also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer. Shopping around for home mortgage rates and terms is also important. A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. Talk to our finance specialist for more information.

Decide on the area to live

Once you know how much you can spend, narrow down your buying choices by deciding on an area where you would like to live. Select one or two suburbs that you like and then look at your locality requirements including employment, transport, shops and schools. During your selection process you should explore the demographics of the area – are you a young family moving into an area predominantly populated by the elderly, for example – and the type of housing available to ensure it meets your needs. If you want an old Queenslander then make sure there are plenty available in the suburb you are thinking of buying into.

What are you looking for in a home

Determining the best house for your needs can be a bit tricky but you can make the task easier by writing down a list of what you really want in a property. Do you need no-fuss maintenance with a brick and tile home or do you prefer the character of a Queenslander? Do you want a new home or would you be happy in something older which has stood the test of time? Are you a renovator or do you want everything turn-key for you to move into? How many bedrooms, bathrooms and living spaces do you need? Is a study or home office important? Are you looking for high or low-set? Do you want a big yard for the kids to run around in (and you to mow on weekends) or is your lifestyle better suited to a townhouse or unit? Search listings on the internet to think about these questions and what each type of home typically offers.

Take a tour and rate the houses

There’s no substitute for first-hand experience, so once you’ve done your homework in front of the computer, put aside a weekend or two and make a list of properties meeting your criteria that are open for inspection. Take a good look around each home and imagine yourself living there. Does this type of property suit you? Do you need something smaller/larger, newer, less expensive? Talk to the real estate agents – they can offer you friendly advice about the type of home you are looking for and may know of properties coming onto the market soon which may suit your needs. After touring each home (ideally while you are still sitting out front of the property and everything is fresh in your mind), write down what you liked and didn't like. Develop a rating system which will help you narrow the field down to the house that's the best for you.

Keep in touch

During this research stage, you may find your dream home. Or, more typically, you may discover that you need to fine-tune what you are looking for in a home. That’s ok. Be honest with yourself and always keep yourself grounded by going back to the lists you compiled during your time in front of the computer. This is a good time to keep in touch with the real estate agents in the area you are seeking a property. Join their email or SMS lists to be notified when a new property is listed on the market and be ready to act if something comes along that is an ideal match for your needs.