Classic mistakes most home buyers make
December 30, 2013 / Written by Rich Harvey
Whether you're a first-home buyer looking at a starter house or an established property owner considering luxury mansions, there are plenty of common mistakes to avoid.
Not enough research
No one wants to feel like they're back in school, but when it comes time to buy a house in Australia, not doing enough research can set you back big time.
Proper research includes figuring out how you're going to finance a home purchase in advance, as well as looking at numerous properties instead of opting for the first one that strikes your fancy.
It's also important to look into the community beyond your property, accounting for things like schools, public transportation and local amenities.
Failure to think ahead
Even if you find the perfect home today, it might not be what you need tomorrow. A beautiful two-bedroom may serve your needs now, but if you're planning on starting a family, chances are you'll need more space.
Also keep in mind how changes in employment and schooling may affect the location of your home and whether your investment will fit your lifestyle down the road.
Trusting the wrong agent
Real estate agents can be invaluable when it comes to buying a home, but unless you hire your own buyers agent, the professional you work with will not necessarily have your interest in mind.
Real estate agents representing a house work for the seller. While their job is to sell the home, it's not to help you get a deal. This is why investing in a buyers agent can be such a big help, as you'll have a professional in your corner who will work for you and only you, assisting with everything from negotiations to bidding at auctions.