When it comes to purchasing a new home in Adelaide a professional builder is a gold mine of information. They have been through countless home builds and know a thing or two that the real estate agents won’t tell you. After talking to professional builders, we have shared their invaluable knowledge about buying property in Adelaide with you. Borrowing
Buying a home is an exciting time, which is why you need to heed caution. It’s important not to get swept up in the excitement and end up with a loan that is far to big for you to manage. You must consider that while you may be in a good situation at the moment, circumstances can quickly change and you may be stuck in a borrowing mess that you cannot control. Be careful about loans that have the potential to rise at a later date, as these can be very dangerous for your finances.
When you are looking at properties try and think of the bigger picture. Sticking to a budget is extremely important, as you could end way over your head. Imagine moving into your new home and not being able to afford the extras like curtains or light fittings. You must ensure you purchase within your means so once you’ve bought the house you don’t sink into debt.
Never play down your instincts. If you have a feeling in your gut as soon as you step through the door, you are most likely standing in your future home. However, if you walk in and don’t have any kind of vibe then perhaps the property is not for you. Don’t just rely on facts and figures, it’s important you are feeling the property you are about to call your home. Initial costs
One mistake many new home buyers make is dramatically underestimating the costs of the whole process. It’s vital you still have enough money to pay for any projects that will arise, because believe me they do. Generally maintenance and repairs strike at the most inconvenient moment and this includes when you first move in to your home. Don’t be surprised if something goes wrong in the first few months that will set you back a couple of hundred dollars.
Avoid the ‘rogue’ home
Never rush in to purchasing a home because it will end up costing you in the long wrong. Don’t go in blind and make sure you inspect the home several times and do as much research as you can. Ask questions about how many previous owners the home has had because this could be indicative of any problems. If the home has had a lot of owners in a short space of time, it’s time to say goodbye and keep looking because this is not a good sign. Make sure you have a look around your potential homes at different times of the day and also in different conditions. If you can visit morning and evening, as well as say in hot and rainy conditions, this can be very useful.
There are many naive home buyers who believe their monthly mortgage repayments are all that they will need to pay. However, the reality is there are maintenance costs as well as rates and insurance that must be paid for. You must keep in mind that the cost of actually owing a home compared to renting is much more expensive, with hidden fees.
With so many options available and factors to consider, buying your first home can be confusing and overwhelming. You’re so focused on making the right choice that is becomes exhausted. This exhaustion then turns to procrastination, where you keep putting off the decision because you’re really not sure which one to make. When people get in this type of mood it’s important to remember that buying something is a lot better than buying nothing. By procrastinating for too long you will end up wasting money and opportunities that will be gone. To talk to a professional builder about the home buying process in Adelaide, call Beechwood Homes