Who’s in your first-home team?
When you’re getting ready to hit a goal, you usually try to get a good support team around you, right? Having the best people on your side can often make all the difference.
Buying a first home is just the same. Getting a deposit together is no mean feat and it can be a great idea to pull in a team of people to help you make the final step of the dream happen as smoothly as possible.
Here are a few professionals to think about assembling around you on your quest.
A mortgage adviser
The lending environment is changing fast, and with so many options to choose from, having a mortgage expert in your corner (like us!) becomes all-the-more important. We can walk you through the mortgage application process, and help you understand what you need to do to get your financial affairs in order for that application, and which lenders might be appropriate for your circumstances. Get in touch if you’d like to learn more about how we can help you.
A lawyer
For many first-home buyers, buying a home is the first time they engage the services of a lawyer. Purchasing property is a long-term financial commitment, so it’s crucial to check out any agreement before signing on the dotted line. A lawyer will help you with things like a title search to work out what money is owed on a property you want to buy, and any covenants that might exist that could restrict what you can do with it. They’ll also deal with the vendors’ lawyers on your behalf and make sure the settlement process happens as it should.
A builder or inspection firm
Once again, buying a home is a big financial decision, so you may want to make sure that there are no hidden issues with it. Getting a building report on your desired property will help you determine whether there is any work to be done on the home that you might not expect. Sometimes it might be a small thing that is just good to know, but other times building reports uncover significant issues. You can include a building report condition in your sale and purchase agreement. If defects are discovered, you could renegotiate with the vendor to have the repairs carried out or possibly obtain a price reduction. Having a builder or inspection company that you trust is really valuable.
A real estate agent
You’ll probably work with a lot of different salespeople on your first-home hunt, but having one you develop a relationship with can really help. If you let them know what you’re looking for, they can keep an eye out for listings – or properties that haven’t even made it to the market yet.
An objective friend
It can help to have someone you trust to come to open homes with you and provide another set of eyes. There can be a lot to take in, especially when you’re emotionally invested in the process. A friend who’s willing to do the rounds with you can help you think back through what you’ve seen and make comparisons, keeping emotions at bay.
Want to add to your team?
We know first-home buying and what it takes to get in the door. If you’re looking for a mortgage adviser to join your first-home dream team, give us a call today. We’d be happy to get on your side.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.