Things to Keep in Mind when Buying a New Home

Once the ‘I want to buy a house’ bug has bit you, it’s really quite difficult to stop pouring over the property section in newspapers constantly and driving down to all corners of the city trying to locate your dream home. Of course, buying a new home means making sure your finances are in order as it is probably the biggest investment you will make.

Therefore, like all other investments, although there may be a lot of lucrative factors, you have to be careful and weigh out the pros and cons before purchasing homes for sale in Perth. Despite the fact that real estate is a reliable investment, you still have to ensure that you are paying the right price for the property and that it meets all your criteria as well.

Modern lounge with white wooden panel

Your finance and lifestyle

The very first thing to do before looking at homes for sale in Perth is to establish how much you can afford to spend on down payments and mortgages considering your lifestyle. While visiting prospective homes, you may feel frustrated sticking to a budget and consider opting for a larger mortgage plan.

However, taking out even a slightly larger mortgage plan is bound leave a large hole in your income and eat into your savings. In fact, it would probably take you years to stabilise your finances once you start paying your mortgages.

Pick the right neighbourhood

If you’ve been living in one neighbourhood too long, it may be quite difficult to detach yourself and look beyond these boundaries, but feel free to explore developing communities around the city borders. These homes for sale in Perthare more likely to bring in better returns on your investment and they also allow you more space on a lighter budget.

When you are looking for such new build Perth communities, keep in mind you have to ensure your proximity to key infrastructure like schools, hospitals, highways and other general services.

Verify your builder’s experience

One of the biggest weights on your shoulder while purchasing a home is picking a builder known for delivering high quality construction. Remember that you are now the owner or landlord and you will be responsible for fixing any leaks and cracks.

The last thing you need is a new mortgage and a new roof to pay for. Most builders Perth develop projects for promoters. Therefore, it’s important that you look beyond the project’s promoter and identify the builder and his experience.

Get legal help

The paperwork and documents that the realtor hands you will certainly warrant a once over from a qualified real estate lawyer. If there are any loop holes for the realtor to escape his duties, it may come to light before you sign a purchase agreement. You can also visit your local council to cross check the property’s size and dimensions.

Once you have all the above details in place, it would be much easier to sit back and enjoy your new home.