Tips for buying the right home

Brought to you by People’s Choice Credit Union.

Buying a new home can be a very stressful experience, especially if you don’t do the proper research. You can easily fall in love with a home when stalking the real estate pages, or visiting open homes. When you decide to move house, take on a renovation, or even refinance your current home, all of these decisions can be messy and painful if you aren’t sure where to start. My husband and I have done it many times. We’ve built 3 times, renovated twice and bought a couple of times. Each time we’ve decided to move on, I am the one who does all the research. Usually it’s a long process and one I don’t take lightly! Out come the spreadsheets and notepads. I like to cover every base and make sure the end result is going to be the best option for us financially.

Today I have put together a short checklist of things you might think about before buying your new home…

• What price did it sell for previously?
• Find out what your yearly council rates will be and factor that in to your budget.
• How long will settlement take? 30 days? Or longer?
• How much will the Stamp Duty be?
• Are you eligible for the First Home Owners Grant?
• Have there been any obvious extensions or sheds added to the property? Have these been passed through council?
• Check for any plumbing or electrical reports.
• If it’s a unit, what are the strata levies and other fees (like gardening)?
• Are there any recent building or pest inspections available for review? If not, consider getting these done yourself before making an offer.
• What would the fees be to pay a solicitor or conveyancer eg. property searches, certificates?
• Who does all the communicating of the sale? Will that be you or the solicitor?

…

Once you’ve gone through all of those things on the checklist you’ll probably also be thinking about your finances and how to make that work for you in the best way possible.

You should check out People’s Choice Credit Union. People’s Choice is one of Australia’s leading credit unions and will take the time to understand your needs, explain all the options and provide you with the information you need to make an informed choice about your home loan. From fixed, to variable and a mixture of both you’d be crazy not to see what’s on offer!

People’s Choice were also recently named CANSTAR’s 2016 First Home Buyer Customer Owned Institution Of The Year – SA. To celebrate the win, People’s Choice Credit Union has reduced its three year fixed home loan package rate for first home buyers to 3.74%p.a.* (comparison rate 4.83%p.a.). Jump over to their website to read more about this awesome rate.

You might also need to consider how much you can afford to borrow and calculate possible repayments before you fall in love with that house! Usually that’s my first port of call too. The borrowing calculator helps to make sure I am in the right price bracket before I jump in. I think having a handy calculator at your finger tips just gives you some confidence that your new home is more achievable than you think.

Buying a new home doesn’t have to be as stressful as you think it might be. Especially if you have all the right information in front of you. People’s Choice Credit Union is member-owned and truly has some of the most competitive and comprehensive rates on the market. Pop over to their website now and see how they can help match your finances to the home of your dreams! You can also follow them on Twitter and Facebook.

Happy house hunting and good luck! KC.

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