Buying a home? How to get the edge over your competition

Spring and the months leading up to summer are one of the most popular times for the housing market, and this year looks like it will follow the pattern.

Many first-home buyers are planning to return to the market and are motivated by incentives such as government grants and reduced stamp duty.

Although this year should be easier than previous years for first-time buyers, there will still be a bit of competition.

To make sure you get the property you want, here are some tips:

Research!

You need to be ready when you find a property you want to buy. Knowledge is power. Research the location whether it be Balga, Mirrabooka, Girrawheen or Koondoola – become familiar with what other real estate are selling for. Visit open houses and auctions so you have a real understanding of the market you’re walking into.

Be ready to make your move

When you find the property you want to purchase, you have to be ready to make an offer. Waiting for an open home is a waste of time. You should contact the agent immediately to schedule a viewing. This way, you have a head start and a chance to buy the property before others can even view it.

It is also smart to have pre-approval in place so someone doesn’t try to snag the property if you have to wait.

Lowball offers waste time

Even though everyone likes to find a bargain, coming in with a low offer could give the seller a bad first impression, leading him or her to dismiss any further negations.  Generally, if you want to guarantee securing the property you should put your best offer forward.

You need make sure you’ve researched the market in order to decrease the amount of time you spend trying complete a deal. The longer it takes, the higher prices around you are rising. You don’t want to find out that you missed out on your dream property because you weren’t well informed.

Make an offer they cannot refuse.

There are many aspects that are considered when selling a home. Surprisingly, price isn’t always the deal breaker. Sellers will often go with the offer that leads to a quick and low-risk sale to avoid problems. Contracts without finance or inspection clauses are usually more appealing. It is also worth asking the agent if the seller is looking for a long or short settlement as well.

All in all – be patient. That way when it comes to making an offer you are confident and have the best chance of securing the property.

If you’re looking to purchase a home in Balga, Mirrabooka, Girrawheen or Koondoola, don’t hesitate to reach out to the Professionals The Wright Team (08 9349 4655) for further information.

Professionals The Wright Team located in the heart of Balga & services the entire region with a particular focus on suburbs including Balga, Girrawheen, Westminster, Mirrabooka or Koondoola.