I had the pleasure of sitting down with Nathan Prasad who is a buyers agent, and Director of Invision Property. Nathan shared with me his Top 4 common mistakes people make when buying a property;
Know what you want
You must have your desires and requirements clearly jotted down before you start house hunting. Do not settle for something less than perfect in your eyes. As long as you do not fall in love with the house do not close the deal.
Factor in all expenses
Always remember that a house’s asking price is only a part of the total price tag. Do not forget to factor in stamp duty, legal fees, rates, repairs, agent fees, registration costs, land tax, maintenance costs etc.
Introduce ink on paper
Every aspect of your house buying expedition must be documented. Verbal agreements are useless when we are talking about such a high sum. Maintain an elaborate paper trail when time comes to sign the deal.
Remember having a ‘Fully assessed pre-approval’ is vital at this stage.
Do not pay more than you should
Every dollar is important, especially when it comes to buying a house. Be ready to negotiate and do not pay more than the actual current market value of the house, no matter how much you like the property.
If you are unsure whether you can handle the stress of finding the perfect house, striking a good deal or you don’t have the time to spend each weekend at open homes then you could benefit from talking to a licensed and experienced buyer’s agent.