Buying a house in Perth can be a tricky process, especially for new home buyers. With the competitive nature of the Perth property market, some buyers choose to engage the services of an agent to look out for the best deals in the market.
Some of the most important things to consider when buying a home are hidden costs, do your research, get expert advice and ensure you get a building and pest inspection before signing the contract.
What home buyers should look for & consider
There are many things to consider as a first home buyer or when purchasing an investment property, and most of them are more important than paint colours. According to Canstar, a leading research agency in Australia, some of the questions you need to ask and consider in buying a house are the following;
- Consider where you really want to live
- Is the house close access to essential facilities?
- Does the home have enough rooms to suit your needs?
- Are the building and roof structurally sound?
- What are the neighbourhood noise levels?
- Does the home have good natural light?
- Does the home have adequate power?
- Is there any sign of termite activity?
- Are there any planned developments nearby?
- Is the garden suitable?
Do your research on the location
Researching a suburb before buying a home is crucial.
The best suburb to live in is the one that suits your needs. You should consider many different factors when trying to find a new home, including how much money you can spend and what type of living environment appeals most to you.
You also want to familiarise yourself with the median house price in the area, what other properties are selling for and how many listings exist within this particular region? Knowing all this information before settling down will help ensure that your purchase was worth it.
The good news for home buyers in Western Australia is that Perth has the most affordable property market in Australia.
What do you want and not want in your home?
Before considering purchasing a home, home buyers should first know what they want versus what they don’t want. When viewing a property, it’s essential to have your list of must-haves and deal-breakers and be as flexible as you’re willing to be here. This will save you from wasting time on properties that aren’t the right fit for you.
Get expert real estate advice
Local real estate agents are experts in property and will have a unique understanding of location and what it can offer potential buyers.
The opportunity to have access to and ask real estate agents questions and find out as much as you can about the property is invaluable and one you should take seriously when you find a home you’re genuinely interested in. Asking the agent plenty of questions could be one way you can feel secure and widen your understanding of the property.
Thoroughly inspect the properties you look at
When you buy a home, you are purchasing everything that comes along with it. Viewing the whole property from a few steps could be a good way of totally assessing the location.
Considering the interior and exterior parts of the house, from the fences, brickwork, roofing, neighbouring properties, and pathways can make a big difference in understanding the state of the property. Thoroughly assess the location, take a walk up the street or drive around the block to better understand the area.
Things you need to know about buying a property
There are a number of hidden costs when buying a house. From Government fees and stamp duty, to insurance and maintenance fees. Make sure you do your research and if required speak to an expert.
Before you go looking for properties, you should approach a broker or lender to get a fully assessed pre-approval for a home loan which details how much you can borrow.
Once you’ve done your own sums about what you can afford, find out whether you can get a home loan, what the home loan amount is and whether you are eligible for any financial assistance.
As a first home buyer, purchasing a new home means you could be eligible for a number of grants, including no stamp duty or no mortgage insurance.
Employing expert building inspectors
Employing experts is beneficial as they are trained to check things you may not see or even think to look for.
The types of inspections you may want experts to conduct include:
- A building inspection
- An electrical inspection
- A plumbing/sewerage inspection
- A timber pest inspection
What do home inspectors assess?
Building and pest inspectors look for various issues, such as cracks in walls, rust, dampness, mould or leak stains. They also check to see if windows and doors are functional and potential plumbing or electrical issues, such as rotting timber and pests.
When organising the inspection service, you should discuss any concerns you have, so your inspector can thoroughly assess your concerns.
The importance of building and pest inspections
Home buyers may feel that employing the services of a pest & building inspector would only add to the expenditure; however, the truth is far from that.
Getting a building inspection guarantees you make an informed buying decision, which eventually saves a lot of money. For most property owners, buying a home is the most significant financial investment they will make in their life, and it would be extremely unfortunate if expensive issues were to be overlooked.
Although the Australian standard states what is to be included in an inspection report, the inspector you employ and the amount they charge will determine the level of detail you’ll receive in a report. Here is what to expect in your building inspection report if you use a SURE Building and Pest inspector.
At SURE our inspectors will assist with interpreting the report, and pinpointing key issues and how much work needs to be done.
Do you need a house inspected fast or on the spot? Want to ensure you don’t miss any building defects? Would you like your report issued the same day?
At SURE Building & Pest, we pride ourselves on providing Perth homeowners with the highest quality property inspection services. Our extensive range of building and pest inspections comes with detailed reports sent on the same day of the inspection. We are the only inspection company in Perth who backs up their reports with 12 months of free advice!