Next Steps to Own Your Own Home

People will always want a home in which to live with their loved ones. The good news is buying your own home is totally achievable. But many of us don’t know where start and how to get the ball rolling.

Careful planning and strategising are essential. Planning involves determining your budget, financial capabilities and financing options, working out the type and size of the house you want, its location and deciding on which solicitor to use to settle the transaction.

After the planning stage, the next most important step is to figure out your finances. With a budget in mind, it is far easier to look for your specific property. Contact your trusted finance broker to establish exactly how much you can borrow and what you’d be comfortable repaying each month.

From there, you can start searching for your ideal house.  Look at the stock avaiable with real estate agents in your chosen area.  Scour the internet.  Check the local papers. The classified section of the local newspapers is a great place to look as you just may stumble across a real gem.

If advertisements have photos, make sure you can personally verify what you see is what you’ll be getting!  That’s why inspection is the next crucial step.  In Australia, sellers are not required to disclose any defects they are aware of in their house. For this reason, it is essential to personally inspect the property inside and out or if you’re unavailable to do so, have someone trustworthy person to check it for you.

If you’ve finally decided on purchasing the family dream home, obtain a copy of the contract for sale.  Now is the time to find a solicitor who is familiar with contracts of sale for the area in which your house is located.  They’ll be able to check the contract for any irregularities or “gotchas”.

By following these basic steps and ensuring you do your due dilligence, you’ll be that much closer to owning your dream home.

By Wendy Moore, Founder, www.savvywebwomen.com