Buying a Property in Perth – Things You Must Consider

When you are ready to invest in a property in Australia, there are things that need to be considered and a few guidelines that must be followed to ensure you have a relatively smooth experience.

If you are an unrepresented buyer, buying a property in Perth can be a little more expensive than what you anticipate. This is probably the reason why many people look to hiring a real estate agent to be able to understand the rules and negotiate the contract with the seller.

Whether you want to buy ‘unrepresented’ or decide to go through an agent or a real estate broker, there are a few stages that need to be crossed before you own your property in Perth.

  • The neighbourhoods that you have considered and wish to buy a property and the kind of property that you wish to own. You also need to consider whether the properties you’re looking at match your requirements and your budget. Many a times we may be required to compromise. So, decide on what you would like to compromise and where you do not want to give in.
  • Gather as much information possible about the property, the locality and ensure that it is not overpriced and very safe.
  • It is important that you know how much you can avail as loan and how strong is your repayment plan. Check for the lenders mortgage insurance cover and see if the terms are suitable for you. Shop for the best home loan deals and sign the agreement only if you’ve read and fully understood what’s on the legal documents to do away with any hidden costs.
  • Learn to negotiate and get your contract of sales duly verified, to understand what’s on stake. Understand the settlement clauses so that you aren’t taken by surprise at the last leg of your journey as a property buyer.

Whether you plan to buy an individual property or wish to purchase an apartment with some builders Perth, it is important to read and understand the supporting documents, before you enter into a contract.