Buying a home can be an incredibly exciting experience, particularly when you know that you’ve got cash back to look forward to with Home Loan Cash Back. However, as thrilling as it might be to start daydreaming about decoration, and loading up your moving boxes, it’s important to make sure that you’re well-informed and prepared before you jump head-first into your home loan.
At Home Loan Cash Back, we’re dedicated to helping you get the most out of your mortgage, and that means providing you with all the extra guidance you might need along the way too! With that in mind, here are a few things that we think you should check before you buy your new home.
1. The Local Area
Purchasing a home isn’t like grabbing a packet of gum at the checkout counter. In other words, make sure that you don’t buy on an impulse. A lot of first-time buyers actually report that they wish they had taken more time to look around before they invested in their first property. On top of that, many say that they wish that they had dedicated more time to researching the area.
Remember to look around and find out as much as you can about the area you’re investing in. Even if the house is incredible, you don’t want to be clueless when it comes to things like council restrictions, and crime rates.
2. The Reason
If you’re convinced you’re getting a deal that’s almost too good to be true – don’t be afraid to question it. Although it can feel nerve-wracking to poke at an incredible offer, the last thing you want is to hand over your money just to discover a secret that’s the reason behind the low-value price. Ask your agent why the property is being sold, and try to dig into the story as much as you can, without being too confrontational.
3. Be Sure You Have the Right Finance
It may surprise you to learn that a lot of first-time home-buyers assume that they can jump in and make an offer on a property just because they know that they have enough for the deposit. Being able to afford the deposit on a property, and being able to get a mortgage are two very different things. At Home Loan Cash Back, we can help you to assess your financial situation in depth.
Remember, you should never make an offer on a property until you know for certain that you can afford it. Take the time to do your homework.
4. Check out the Neighbours
If you’re considering buying a property, then there’s nothing wrong with knocking on your potential neighbour’s door to chat and get some feedback on the area. Remember, there’s a good chance that you could be living next door to the same people for a very long time. If your neighbours are terrible, it’s better to know that before you move in.
Finding out what kind of people your neighbours are in advance could even push you to reconsider making an offer on a property.
5. Evaluate the Property
It’s crucial to get a pest and building inspection on your chosen property, even if the house is basically brand-new. After all, even if you find out that there’s nothing wrong with the house that you’re thinking of buying, at least you’ll be able to walk away with the peace of mind that comes with knowing that you did your due diligence.
If you do find any problems, then you might be able to get a much lower price on the home, or you may decide that you want to look somewhere else entirely.
6. Check for Hazards
Finally, make sure that you always check for environmental hazards that might impact the overall value of the property. Known hazards can have a huge impact on your home, including problems with insurance and values. If your home is in a known flood zone, this could mean that your insurance doesn’t cover you for any potential disasters.
