House hunting can very quickly go from an exciting time, filled with potential to a seemingly endless nightmare of lost opportunities and wasted time. You want to make your approach as strategic as possible and that requires a bit of industry knowledge and some planning. We’ve put together a few top tips to help you along the way.
Setting up the search
One of the most important parts of finding a new home is making sure you know what’s out there. Instead of scouring all the listings on every single site every single day you could enlist the help of professional property managers like Metro Property Management. They do all the grunt work for you and make sure you get results that are tailored to your area, home type and budget. Be as detailed as possible when working with your property manager. If you need a big yard because you have a dog or you need an extra bedroom because you get many overnight guests let them know. Any and all information is valuable. if you are a light sleeper prefer to be in a quiet area or away from the train tracks or nightlife, this kind of information will help them find the right place for you.
Cast a wide net
Don’t be too picky when it comes to areas. The right house can you just be a few hundred m away in the next suburb but if you refuse to see it because of the ZIP code you could lose out on your dream home. The increased need for housing in most urban areas, formerly underdeveloped suburbs are being revived with renewed investment and the area you thought too rough for you, could just be a great place to live. If you’re being hampered by needing to be close to work speak to your manager about possible relocation or part-time remote working this could drastically cut down on your travel and open up the possibility of several new areas for relocation.
Set a modest budget
When setting a budget with your property manager, try to lean for towards the modest side. Don’t max out your monthly budget when it comes to rent or home loan repayment calculations. Remember there are many factors at play and slight changes in the interest rate, homeowners association fees, or any similar costs could have serious effects on your monthly expenses.
Don’t be surprised
Make sure you know all the possible costs involved. Registration fees, transfer costs, lawyers fees and application fees are often not considered with considering the cost of a home. Be sure to do your homework on these fees and include them when summing up what you can afford.
Know the neighbourhood
If you’re looking to move to a new area, make sure to take some time to get to know the neighbourhood. Depending on your lifestyle needs, find out if there are good schools, parks or community centres in the area. Also research what the local healthcare facilities are like to ensure they can cater to your needs.