The #1 Thing You Need To Do Before You Purchase A Home
When it comes to buying a home, most people begin with pre-conceived ideas of what they want and where they want to be. However, things aren’t always that easy and the more you look, the more you start to realise that buying a home in Melbourne is a time consuming and complicated task.
While some people may choose to rent in an area to get familiar with it (this could be a 12-month exercise, which could cost you thousands) and see if they like it, others prefer to buy and move straight into their so-called dream home and that too can be a mistake.
Instead, you want to spend time in an area, maybe 2 or 3 weekends in a row. Become a local; get to know the people, the area, the local shops and cafes, the places people hang out, the demographic, the traffic flow and the schools if it is relevant.
You want to make sure you are going to like where you live and who you are going to be sharing your life with because you are likely to be spending a lot of time and money in the area.
Some streets in a quiet part of the day may seem lovely while at other times those same streets can become significant cut-throughs for traffic and can ruin your chance of quiet enjoyment.
If security is important to you, some suburbs may be safer and feel more secure than others, and in this instance, the home itself may not be as important as the location you are buying in.
Our suggestion at Real Asset Property Group is that you make a list of the 3 or 4 most important things you want in a home, but also in a neighbourhood, as well as preferred locations.
One of the directors of Real Asset Property Group, Melinda Walker, is a single mum and when she moves into a new suburb she always looks for a chemist, a supermarket and medical practice. After that, she looks for things like proximity to transport and shops, and how safe the neighbourhood is.
For Melinda, with two girls, proximity to amenities and security is paramount. For you, however, it may be completely different and that is why making your list is so important so that you have clarity on what you want and need.
Melinda Walker and John Paul Mitilineos lead Real Asset Property Group. They are fully licensed, have over 25 years of being in real estate, have worked in several Melbourne property cycles and seen many fluctuations. They have been on both sides of the negotiating table on many occasions.
Where Real Asset Property Group differs is they don’t rush into buying you just any property. Instead, they take their time, narrow down the search to suburb, location, street and even the section of the road you should buy in or avoid because they know that buying property is a long-term investment and not a short-term one. They don't allow you to make costly mistakes. A little investment in their services will not only make your investment more profitable in the long run, but you will also have peace of mind you haven't purchased a lemon.
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Please leave comments below or email Carolyn@cazinc.com.au.