10 Secrets To House Hunting

October 31, 2011

Househunters are spoilt for choice as Australia experiences the best buyer’s market in the past 30 years. To know what to look for, property expert Peter Sissons has put together his top 10 tips to consider when searching for your ideal property:

1. Before looking at homes, always make a time with your bank to talk about pre-approval, so you know exactly what is within your budget and so you are ready to act.

2. Don’t let the rain hold you back. One of the best times to look around a home is in the rain, to see how well drained it is.

3. Pay close attention to the physical condition of properties – rusted gutters, leaning retaining walls and rusted roofs can cost a lot of money to fix once you have bought the property.

4. Include properties $50,000 above your budget in your search. There are properties in the market that are over-priced, with sellers open to offers from genuine buyers.

5. Don’t get caught with a major problem, ensure your offer is subject to building and pest inspections.

6. With summer storms on their way, take greater care when considering a low lying property for any possible drainage problems.

7. Before you buy a timber home, make sure your building and pest inspector can carry out thermal imaging to check inside the timbers, as well as carrying out the normal external inspections.

8. If you’re looking to buy a rental property, find out exactly when the tenant lease ends, otherwise you may need to wait months to move in.

9. For first-time buyers, take your parents’ advice – people who have owned homes for many years often see problems that younger people don’t even notice.

10. Don’t be too concerned if the swimming pool looks a bit green, after the recent heavy rainfalls, most pools are not looking their best.

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