Friday, June 14, 2019

Advice for Those Who Are Buying Sydney Property

Image Source : Pixabay

If you are planning to relocate, and Sydney is your choice of locations, you certainly wouldn’t be alone. This vibrant city and its many suburbs have much to offer, and with such a desirable region, you need to be quick when looking at properties. Here today and gone tomorrow would be an accurate description of the Sydney real estate market.

With that in mind, here are a few tips to help you source that dream property in Sydney.

Source a Good Mortgage Broker

Number one on the list of things to source, finding a proactive mortgage broker in Sydney is a must, and by dealing with a leading independent broker who has associations with all the major lenders, you can find a mortgage that suits your lifestyle. You are wasting your time looking at properties without first getting mortgage preapproval, and no seller will take you seriously without the green light from a lender.

Making an Offer
Image Source: Unsplash

If you do find something that hits the spot, you need to be quick to get the ball rolling, and with a proactive independent mortgage broker in your corner, you can get ahead of the pack when it comes to buying a prime piece of real estate. The mortgage broker can make things happen within hours, rather than days, and aside from being able to hook you up with the right lender, they also get to know when prime properties come onto the market.

Crunch the Numbers

The very worst that could happen is you commit to a property that you really can’t afford, so do crunch the numbers, and make sure you factor in everything. Legal fees, stamp duty, and the great thing about using an independent mortgage broker is their services are free to the borrower, as the lender pays a small remuneration on the loan. Don’t forget relocation expenses, and you are likely to need some basic furnishings, all of these things require money. There is also a great article for first time buyers, complete with useful information that will make it a little easier to acquire the home of your dreams. If the mortgage is high, be realistic, as the last thing you want is to get behind with your home loan payments, and if you are buying the house with your partner, sit down and look at all the pros and cons.

Carry Out Searches

Once you find a property you like, have a building surveyor take a look, and they can also ensure that the title has no restrictions, and nothing is owed by the seller. The structural integrity of the building needs to be verified, and a good conveyancing lawyer would advise you regarding the searches you should order.
Image Source: Unsplash

Sydney is a very desirable location, and the land prices reflect this, but if you can afford it, factor in all of the above and you should be able to find the ideal property. The mortgage broker is the key, and once you have forged an alliance with a local mortgage broker, they can get you preapproval, and the search can begin.

1 comment:

  1. Before you buy, you first need to consider the property ballon, what may happen when the all time low interest rates start going up, pathetic 2-3% net rental returns due to high ongoing costs and taxes.

    ReplyDelete

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