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If you’re new to the home-buying process, or even if you’re not, it’s always good to visit a few basics. There are a few questions you need to ask – of yourself, as well as the real estate agent – to make sure you won’t regret your purchase later down the track.

Questions to ask the agent

  • Have you a recent property sales report to show what the house is worth?

You want to be sure you’re not going to pay over market price for the property.

  • How long have the owners lived there?

If they’ve only lived there for a short time, you want to know why they’re moving out so quickly. It might be they’ve got a new job or there is a relationship breakup, but if there are noisy neighbours, you might want to rethink putting in an offer.

  • Why is the vendor selling?

If the owner needs a quick sale, they might accept a lower price.

  • How long has the property been on the market?

If it’s been on the market for a while, find out why. There could be an issue with the property, or the asking price is too high.

  • Are there any known issues with the property, land or neighbours’ properties?

You need to know what you’re buying into. A major problem with the property or arguments over boundaries could be costly.

  • What is included in the sale?

Always good to know what you’re getting for the price! And what you’ll need to purchase once the property is yours.

  • How much are council rates / strata fees?

You need to factor ongoing costs into your budget.

Questions to ask yourself

  • Can I really afford this property?

You’ve got a budget, so stick to it. The last thing you want to be doing is selling the property early because you’ve overstretched yourself.

  • Is the home a good investment for you

Make sure it fits with your long-term plans – for instance, you may want to rent it out in the future.

  • Can I live in this neighbourhood for the next few years?

If you’re buying a home in an area you haven’t lived in before, make sure you get to know the area and you’ve visited at different times of the day. That way you’ll get a feel for whether you want to live there for an extended period of time. (It may be worthwhile renting in the area for 6 months to see if you enjoy it).

  • Am I thinking with my head or my heart over this property?

If there are issues with the property, or it’s more expensive than you can afford, walk away, there will be a better one round the corner more suited to your needs. You don’t want to find yourself struggling financially later down the track – you want to enjoy living there!

Whether you’re buying or selling, our aim is to make your real estate experience exceptional. Our talented helpful team would love to help you with your needs, so drop into the Cardiff office or give us a call on 02 4954 8833. Or send us an email to: mail@apnewcastle.com.au – we’d love to hear from you.

And don’t forget to check out our Facebook page for handy tips on selling your property or what to look for when buying a property.