Buying a new house or land development requires skill, a good amount of research and a savvy sense, no matter what your circumstance. It is one of the most exciting and most valuable assets that the you will be adding. As a first-time home buyer we don’t know what to expect, the process is often as intimidating as it is exciting. In these uncertain times of high list prices and low rates, the decision to buy a house may feel even more overwhelming than ever, this is where Bonding Real Estate Agents play a great role. As part of buyer’s agent service we want to ensure our clients receive a better deal and a quality product. Our part is to make that buying process effortless and more enjoyable and to work in the best interest of our clients. Negotiating with developers and builders and to ensure quality product is delivered before the final settlement are some of the key features of our service. We offer a complete final inspection any defects rectification prior or after the settlement will be addressed to the builders ensuring that to be rectified.
We have prepared some of the key steps involved in buying a house:
• Before looking into buying a property check your financial situation, make sure have a strong credit score
• Money saved for a down payment and closing costs
• Preapproval for a mortgage loan and workout how much you can afford to borrow (Find a good Mortgage Brooker or Lender)
• Start looking for the areas that you would like to live and afford to buy
• Location is an important factor. Depending on your unique needs, you may want a safe neighbourhood with quick access to commuter corridors, arterial roads, schools, and shopping. Or you may prefer a peaceful area located away from the hustle and bustle of the city
• If you have thought of buying off the plan, then there will be a different process as compare to existing property
Off the plan property: Buying off the plan property process is completely different to the existing property. You can start buying off the plan property with small deposit given the land registration date or apartment settlement date. Below is the guide on buying off the plan H&L packages:
• Check your credit score and determine what you can afford
• Find a agent , builder or a developer selling off the plan property. Mostly the real estate agents will have direct access to most off the plan properties. Agents can take you through the process off buying off the plan property including the projects features.
. You may also choose to go though custom building design.
• Choose the area that you would like to live
• Select the land that suits your needs and go through the building process
• Reserve the lots with a small deposit
• Most often there will be variation cost added to build house. Specially when you are looking to upgrade the features of the house. Make sure you discuss this with the agent, builder and understand what inclusions are included with the building package that the builder are offering.
. Request your solicitor to check the land contract as well as building contract
. Understand any easement or caveat on the land.
. Once you confirmed everything is ok and are satisfied you can exchanged the contract
. Land registration and building process start
. Check the progress of your house getting constructed , request agent to provide update
. House completion and hand over, ensure that you are aware of the warranties, keys handover along with all the paper works .
. Prior to the handover you may carry out building defect inspection with the external building inspector to ensure any building defects are rectified with in the warranty period.
Congratulations you have build your dream home.
Existing property:
• Check Your Credit Score
• Determine How Much You Can Afford
• Choose A Lender and Get Preapproved for A Mortgage
• Find A Real Estate Agent or you can start searching properties at online platforms
• Once you find the right property, Make An Offer
• Seller except the offer put a holding deposit
• Contract for sale of land to be issued to the buyers solicitor or conveyancer
• Exchanged the contract with 5 days cooling off period or you can request 10 days
• Get A Home Inspection and Home Appraisal
• Loan process
• 5% or 10 % deposit contract exchanged with 42nd days settlement
• Purchase Homeowners Insurance
• Final settlement inspection
• Solicitor or Conveyancer will process the Final Settlement process and Keys Handover by Sales agent
Congratulations and Welcome to your New Home