Five tips for first home buyers: Robert Klaric

GUEST OBSERVATION

1. Why have a plan?

Good preparation and a ‘plan’  before you buy can save you thousands of dollars.  

There’s no point in making a wish list so long that you’d need to win Lotto to even come close to fulfilling your dreams. Think clearly, realistically and as unemotionally as possible about your property needs and try and set the wants to one side.

2. Why are you planning to buy?

It sounds easy, doesn’t it? But actually, your reasons for wanting to buy have a big impact on the style of property you should look for. Missing out this important first step in the planning process could make for a very expensive mistake down the line.

3. How much can you afford to spend?

“Fail to plan and you plan to fail”.

Note that the key word here is afford. It’s essential to do a proper budget, listing all your regular expenses, so that you can establish the level of repayments you can make without starving the kids.

4. What are the ‘must haves’ for your purchase?

Yes, we would all love a fabulous harbour view, ensuites off every bedroom and space to garage at least three cars, but for most people, the wish list has to be a little more humble. Think about the way you live as a family and how this will affect the property you’re seeking:

5. Where do you want to buy?

A few lucky people can be very flexible about the location of their property purchase, perhaps because they work from home, or don’t have children, but for most of us, a number of factors are going to affect where we want to buy:

• Price. Many areas will exclude themselves on the basisof budget alone.
• Distance. Where do you work and how long are youwilling to travel to get there?
• Transport. Do you need decent public transport links?

Robert Klaric the CEO and founder of The Property Expert International, a Property Advocate and Advisor.

Robert is also the author of 'Secrets of the Property Expert’.