THE purchase of real estate usually has two key components; one is emotional, the other financial.<\/p>\n
\u201cMost home buyers (as opposed to investors) want to feel a strong attraction to the property they purchase,\u201d Bellarine Property managing director Christian Bartley said.<\/p>\n
\u201cAfter all, they are going to live in it. But they also have to make the right investment decision because their enjoyment of the property can be spoiled if, further down the track when they go to re-sell, they realise they paid too much or made a poor investment.\u201d<\/p>\n
Mr Bartley said that the key to both financial and emotional success is doing your homework thoroughly before you purchase.<\/p>\n
\u201cYou can speed up the research process by making sure you look at all the properties that satisfy your basic criteria, including those that don\u2019t sound like your ideal home.<\/p>\n
\u201cEven properties that don\u2019t appeal are relevant for building up a portfolio and getting a handle on price trends.\u201d<\/p>\n
Mr Bartley said that many intending purchasers turn down the opportunity of inspecting properties in their price range simply because they \u201cdon\u2019t appeal\u201d.<\/p>\n
\u201cBut the more properties you see in your price range in a short space of time, the sooner you will be ready to buy.<\/p>\n
\u201cAnd you\u2019re less likely to end up seeing your dream home early in the piece and feeling you\u2019re not ready to make an offer.\u201d<\/p>\n
Mr Bartley advised purchasers to take a notebook with them and jot down their comments for later comparison.<\/p>\n
\u201cUse every available information source.<\/p>\n
\u201cWhen you see a signboard with a sold sticker on it, ring the agent and find out what the property sold for. Make sure you follow up all the houses you have inspected. Did they sell quickly and if so how much for?\u201d<\/p>\n
Mr Bartley said that most professional agents will provide information about recent sales.<\/p>\n
\u201cRemember you need to look at a lot of properties to feel confident you have a trend or a pattern emerging.<\/p>\n
\u201cIf you know what 10 or 12 properties have actually sold for within a $10,000 range of your budget, you\u2019re probably ready to walk into a house and say I like this one, and I\u2019m prepared to pay \u2018x\u2019 dollars for it.\u201d<\/p>\n
For more information, phone Mr Bartley on 0410 695 325, email christian@bellarineproperty.com.au or head to bellarineproperty.com.au.<\/p>\n","protected":false},"excerpt":{"rendered":"
THE purchase of real estate usually has two key components; one is emotional, the other financial. \u201cMost home buyers (as opposed to investors) want to feel a strong attraction to the property they purchase,\u201d Bellarine Property managing director Christian Bartley said. \u201cAfter all, they are going to live in it. But they also have to […]<\/p>\n