Hi,
My wife and I are looking at buying a new home, any advice would be greatly appreciated. We are looking at something pre-built and new. Any pointers for dealing with real estate agents or what sort of deal to push for when buying a new home?
If this is the wrong place to ask this or it's been covered before please just amend it.
Cheers!
We are mid breeding phase of our lives and looking at timing things to maximise convenience for when the next spawn may arrive, not too concerned about interest rates but thanks for the pointer and i do agree that there may be another cut soon.
Enjoy renting for the rest of your life then.
"mid breading"?
Do you mean 'breeding'?
So where do you want to buy?
What is your budget?
Real estate agents are in it for the commission but there are some honest ones out there, whatever they point you towards remember it is up to YOU to due your due diligence. Don't skimp on proper pest and building inspections look up council planning schemes to make sure they aren't going to put a highway next door, that kind of thing. NEVER buy a heritage listed home and do not buy a unit where you have to deal with a body corp.
That's all I got until you give us some more info.
Thanks so much for such a thorough response! Yes, I meant breeding haha. Looking around Geelong, anything between Geelong and Torquay really. Looking at a NEW house in one of the estates around that area and around $500,000 but happy to go a bit higher or lower. Only just started discussing it so very early days, just gathering info at this stage.
Also, we are in no hurry… Looking for something in the next 12 months or even 2 years.
Cheers EightImmortals!
2 years ?
okay, do a spreadsheet and start logging the prices of the estate/area that you're interested ; update quarterly
interesting times ahead.
Look into house and land packages offered by builders…no commission for real estate agents
Thanks!
Just remember if you buy in a new estate and you are one of the first there, you will have construction traffic, noise, dust etc… for possibly years to come.
Thanks for that, the areas we are looking at are reasonably established but we will keep that in mind.
Such a broad question
Wanted to go broad as we are novices and all advice is appreciated. Also, have a lot of time before we want to buy so interested to hear anything anyone has to say.
Yes to deal with real estate agents you must engage them through a form of communication, such as verbal, email or messenger pigeon.
You should push for any deals that are consistent with your goal of buying a new home.
Good luck.
Great advice! Cheers!
In my opinion, you're better off buying an established house, rather than a brand new house.
Any particular reasons why?
Look at all the threads about problems people have with builders. If you buy an established house you will know what its problems are if any.
I see, cheers for that!
if your going to finance try to get pre-approvals before you locate a house, it can be updated if you do not find one within a reasonable time. They usually have an expiry I think. So do your due diligence on interest rates if not ready keep tabs on the rates while your looking around.
Thanks for that, we are starting to look into that end of things next week.
My advice would be to go for an older house, and get handy with some of the basic renovation bits and pieces. There’s an enormous false economy in brand new houses IMO, in such that brand new or near new houses attract a massive premium that I don’t think is actually realised once you can potentially spend $50K less and do some innovative or creative ways of repainting or reno’ing an older house.
Thanks for that. Great advice but attempting renovating while having 2 kids under 3 sounds horrible to me haha. I do agree with what you have said though.
If you are looking at a pre-existing house, have a look at sold prices. If it sold in the last few years they may be hard to negotiate with since they will have expectations of a larger capital gain. Especially if they flipped/renovated it.
Thanks for that!
Cheers! Simple :)
Wait until RBA cuts rates or banks start foreclosing homes. I'm holding out for the latter before I purchase my new home. Wanna move closer to the workplace.