Our Top 5 tips for buying a home in the Eastern Suburbs
1. Compromise
The East is tightly held and has a very limited number of properties. Nothing is perfect. To open up options you will need to compromise. Just remember you can never change the location of a property.
2. Check your finance situation
In the last 6 months banks have tightened up their lending. Call your banker or broker and just double-check your loan today.
3. Research
You research the schools you choose, you research what nappies to buy, you research your next holidays. Buying a home is the largest purchase you will ever make. Spend the time to research. Is the market hot & heavy, or has it softened? Is there a development about to go up next door? Is the property overpriced? Make sure you are informed, don’t be swayed by the vendor’s agent – immerse yourself in the market.
4. Timing
Timing can be everything. Did you know real estate is a very seasonal market? Most real estate agents push vendors into selling in Spring or Autumn. They create artificial seasons, as most agents like to enjoy holiday’s overseas mid-year and at the end of the year. Therefore in winter you won’t see many properties coming on to the market. But it could be the best time to buy!
5. Think long term
Unless you are purchasing a property to renovate and sell for profit, then you must think long term and not get caught up in the nitty gritty of buying. Often we deal with buyers who get caught up in the process of buying, rather than actually thinking about the long term implications and actually finding a home they want to live in.
Real estate agent vs Buyers Agent
Did you know real estate agents act on behalf of the vendor, and that they have legal obligations to get them the best price? If you’re just starting out you probably haven’t heard of a buyer’s agent. Just like real estate agents who help you sell a property, a buyer’s agent is a licensed professional who works for you and acts on your behalf to search, evaluate and negotiate a property purchase. They aim to ensure you’re as fully informed as possible and that you don’t overpay.
The purchasing of properties in the Eastern suburbs has changed at a rapid rate. Now is the time to get a professional on your side to help you purchase.
Our friendly team… You may have seen our faces around at inspections? This is the BuyEast team. We are mature, professionals experienced in purchasing property in the Eastern suburbs.
Feel free to reach out and chat to us – we all love talking property.
• We work 24/7 to find your property
• We are the most active Buyer’s Agents in the East.
