Not doing
proper due diligence
Buying a home is an exciting time, but it is also one that should be
taken seriously to ensure you’re buying the best property for your future
wealth creation.
So, it’s vital that first home buyers concentrate on the less sexy side
of buying property, too, which includes getting a building and pest inspection
to identify any minor or major issues.
You can then use this to inform your buying decision such as negotiating
a lower price or even walking away from the deal if the issues are significant.
Of course, it’s a no-brainer to get a solicitor to check the
sales contract before you sign
because your signature is worth a lot of
money to the seller— and to their lawyer if you try to get out of the
deal with no legitimate legal grounds.
You should also check, usually via your legal representative, the area’s
council zoning as well as building approvals on the property itself to ensure
you are making an informed decision.
Last, but certainly not least, you must take out appropriate insurance
to protect your asset as well as your ability to repay the mortgage.
The bottom
line…
Becoming a homeowner remains a goal for most young Australians, who are
prepared to do what it takes to make it a reality.
As part of the process, though, they should also consider which property
will be the best one for their needs today, but also which one can help them
upgrade to something bigger and better when the time is right.
RealRenta
has all the tools that a property manager has, but
less than ¼the cost of a property manager.
Join now and the cost is less than a cup of coffee a
week to manage your rental property
RealRenta also has a free vision, so why not check it
out
Jason Gwerder
Thursday, 28 October 2021
