5 Tips for Buying Your New Home

For as long as I can remember, I’ve always loved and appreciated new homes, old homes and just real estate in general. When I was young I apparently checked out people’s bathrooms to make sure they were up to my standard. I remember who I’d love driving past the expensive homes and dreaming about the day I’d get to live in one. When I was old enough to get away with it, I’d spend my weekends attending open homes, pretending I was ready to buy my first home, and walking through the different houses, taking inspiration from rooms, and mentally renovating as I went, seeing where I’d spend money to make money.

My journey to becoming a real estate agent was a bit of a twisty road, and eventually the thing that pushed me into the Real Estate world, was because after dealing with agents with our investment properties, both here and overseas, I was certain there was a better, more customer friendly way of doing things. I decided from that point on that it didn’t matter if I failed or succeeded, as long as I did everything with transparency and integrity.

I still make career decisions to this day based on those two things, and yes it’s cost me sales, when other agents say what the owners want to hear and use techniques that really test the moral compass. I’ve ended industry relationships that don’t sit right with me, and have turned away landlords and tenants who are not the right fit. The positive that comes with this way of conducting business through, is that I never have to hide anything, or keep up with what I “should” say or do and for my clients and community it means that I will always give them my honest opinion and insights.

So in true form of leading with transparency and integrity, I want to give you 5 tips for home buying success. If you’re looking to buy a new home, whether it’s your first or fifth, here are some insider tips and valuable insights that will set you apart from the crowd and empower you to make informed decisions.

1. Define Your Priorities and Set Realistic Expectations:

Before diving into the new home search process, take some time to define your priorities. What are your must-haves and deal-breakers? Consider factors like location, size, budget, and amenities that align with your lifestyle and future goals. Setting realistic expectations from the outset will save you time, prevent disappointment, and help you focus on properties that truly meet your needs.

2. Conduct Thorough Research and Due Diligence:

Knowledge is power when it comes to real estate. Arm yourself with information about the neighborhoods, market trends, and property values in your target area. Research school districts, transportation options, and nearby amenities to ensure they align with your lifestyle. Additionally, perform thorough due diligence by inspecting properties, reviewing documents, and understanding any potential risks or restrictions.

As well as the formal checks, it’s important to do a “liveability” due-diligence. Do a google map search of the area to see if there are any businesses or landmarks that would sway your decision. Don’t be afraid to take a walk around the block, see how you feel, because if you have a dog or just like to keep fit, this could be what you do every day. Similarly jump in the car and drive to work, to the closest supermarket, to your best friends house. Can you see yourself doing this drive on a regular basis?

3. Get Pre-Approved for Financing and know your “Ok to let it go” price

Securing a pre-approval from a reputable lender will give you a clear understanding of your budget and strengthen your position when making an offer. By knowing your financial limits, you can confidently explore properties within your price range and make competitive offers when you find the right one. It’s also really important to know what you’d be ok with if you missed out on a house by a certain amount. For example, would you be crying yourself to sleep if you offered $1000 under the offer that was accepted? Often in auctions, the top bidder will have gone just above a rounded figure, like $701,300 instead of $700,000. This is because often buyers will tell their agents that their maximum is $X00,000 or $X00,500 etc.

4. Be Patient and Flexible:

The home buying journey can sometimes be a roller coaster ride. It’s so important to remain patient and flexible throughout the process. The perfect new home may not come along immediately, but by staying open-minded and adaptable, you’ll increase your chances of finding a property that exceeds your expectations.

5. Don’t Underestimate the Power of Negotiation:

Negotiation skills are key when it comes to securing the best deal. Trust your agent’s expertise and leverage their negotiation skills to maximise your purchasing power. While you should never be persuaded to throw away you deal breakers, you should be prepared to negotiate on price, contingencies, repairs, or other terms to ensure you achieve your desired outcome.

Now I know I said I’d give you 5 tips, but because I care I’m going to give you an extra tip for buying your new home. 🙂

Bonus Tip – Partner with a Knowledgeable and Trustworthy Agent (aka Realty Road!)

Having a reliable real estate agent by your side is crucial. Look for an agent who understands your goals, communicates effectively, and possesses in-depth knowledge of the local market. A skilled agent will navigate you through the complexities of buying your new home, negotiate on your behalf, and provide valuable insights that only industry professionals have access to. And yes, we offer a buyers agent service. We can help you with established homes in Queensland or new builds through out all of Australia.

So whether you’re looking for a first home, upgrade, downsize or investment property, we are here to help you through every step of the way!

Contact us today to chat or let us know how the tips above helped you on your home buying journey.