Home Loan

Look at properties in your price range in the areas you like as well as the surrounding suburbs. See what’s happening in the local market by talking to real estate agents about properties that have sold and go to some local auctions. Once you’ve found the home you’re interested in, you may want to speak to a professional about getting the property valued.

It’s important that you set an upper limit and actually stick to it, otherwise you run the risk of biting off more you can chew debt-wise. Don’t allow the emotion of the negotiation get the better of you, but also be careful not to put the owner offside with an insulting offer. If you are making a low offer, make sure to give fair reasons why.

Look at suburbs where there are lots of properties for sale, as there will be less competition from other buyers – but more competition sellers to get their property sold. This will give you a stronger negotiation position with a seller who is competing with other homeowners in the area.

Ever heard the phrase “perfect is the enemy of good”? This is a warning too many prospective fall foul of. You could pass by many great properties in search of the elusive “perfection”. It is always worth staying open minded and listing your requirements in order of priority.

Learning a reason for sale could give you a powerful bargaining chip. In a lot of cases, the seller can be committed to purchase elsewhere, an investor keen to liquidate an asset or even be over invested and desperate to sell. Asking questions can turn out to be really valuable in ongoing negotiations.