Factors to Take Into Account When Buying a Property

Buying a property is likely to be the biggest single investment you will ever make, and in order to ensure you make a good investment, there are many things to take into account. A house is a complex structure, and with as much going underground as above, you really do need to be absolutely certain of the structural integrity, among other things. If you are soon to become a property owner, here are some important things to bear in mind before signing on the dotted line.

  • Use The Services Of An Established Conveyancing Solicitor – This is absolutely essential, and River City Conveyancing are property lawyers in Brisbane area who will ensure that your rights are protected, and with their extensive knowledge of Queensland law, you can be rest assured that the property is all it seems to be and you will be entering into an agreement that you fully understand.
  • Adopt A Realistic And Practical Approach – Far too many people allow their emotions to get the better of them when house hunting, and despite crunching the numbers and knowing the property is a little out of their price range, they go ahead with the purchase regardless. If ever there’s a time for your head to rule your heart, buying a property is it, and providing you are sure you can afford the mortgage repayments and the property is structurally sound, you can proceed with confidence.
  • Don’t Forget Additional Expenses – Buying a property isn’t just about the deposit and monthly repayments. You also have to consider furnishing the home, and even if you do this sparingly at first, there are still many essentials you will have to acquire in order to live in the property. Building maintenance is another thing that some people overlook, and then there’s taxation, landscaping the exterior and a few other essential expenses you will have to cover. If your dream home is a little too expensive, it might be better to lower your sights a little, and besides, you can always upgrade in a few years, when finances are a little healthier.
  • Don’t Be Afraid to Negotiate – The current state of the economy means it is very much a buyer’s market, which might give you some extra leverage with the seller. The majority of sellers already have a new home in mind yet cannot do anything until they’ve found a buyer for their current home, and whatever the asking price, there will be some room for manoeuvre. When viewing the property, point out anything that needs some work, which gives you a strong case for a price reduction, and don’t be afraid to walk away, as some sellers will wait until the last moment before agreeing to a reduced price. Even if there is no reaction and you actually do walk away, after a night to sleep on it, the seller may well contact you and agree to accept your offer. If you are inexperienced at price negotiation, you can find articles online for tips. It will certainly put you in a better position when it comes to finalising the deal.

One important thing to remember is to take your time and not allow yourself to be rushed into anything. With a good conveyancing lawyer in your corner, you can move ahead with confidence, knowing you have considered every aspect of the purchase.