Its only natural to expect a lot of emotions when your buying your first home, lean on a friend or third party to help you stay focused.
Stretching the budget too far
Know your limit. You still need a bit of money left over each week after repayments to be able to enjoy life.
Not budgeting for hidden costs
Factor in Building & Pest Inspections, stamp duty, conveyancing costs, broker fees, removalists, insurance, council rates, water & sewage.
Be aware before making an offer of all the costs involved so you don’t have any nasty surprises.
Not getting finance sorted
Get pre-approved finance from a lender before you start looking. Because when you find exactly what you like you need to be ready to move with an offer and pay deposit immediately.
If you have been looking for a while you may be getting frustrated, relax take a break if you need to. Then start fresh with a clear mind of what you’re looking for in a property, the last thing you want to do is buy a property then a couple of months later dislike living there.
Getting a building & pest inspection
One of the fundamentals of buying – it generally only costs $440 for both inspections and could save you tens of thousands if there are problems with the building or if there is pest infestations.