The market offers a lot of houses for sale every year with an average of 500,000 dwellings sold each year in Australia and if you are looking for that specific one that you have always dreamt off, you really need to put efforts in the process of searching. Just by simply being updated of what’s happening in the real estate industry,  you can find the home you want at the budget you have since properties for sale can be looked up online as well as everything you need to know about the market.

When searching, always try to research every week so that you could be updated of the rate of prices allover Australia. As of the moment, the prices in the market are continuously increasing which is why you need to equip yourself with the necessary knowledge so that you could be able to know when to buy, how to buy and where to buy.

First, you need to research the city, region, and suburbs to at least get an idea of which are the safest to live in and which ones to avoid. This knowledge is going to be helpful for your search because if you look at New South Wales as a whole, it is a very big state. This step will help shorten the list of cities, regions, and suburbs you want may it be up in the mountains, near the beaches or any type of spots you would like.

Ones your list dwindles down, you may start looking for houses that may interest you and after that, you need to know the area it is in. Knowing the area around the properties that you like will definitely be one of the most important factors to keep in mind. You need to research whether the property you like is near the necessary facilities that you and your family need. Grocery stores, malls, schools (whether a primary school for your toddler, or even a college or a university), bus stations, police station, fire department and hospital are some of the most important facilities to most family. You may even include searching for parks, reserves, recreational centres, sports centres, entertainment centres and the likes if you love to go spend time outdoors.

If you want, you may drive around the area of the houses that you think might be a good fit for you and your family. You need to get a hint of how the neighbourhood works as well because it is very important especially for your kids (if you have). You should also check the local council and how effective are they in keeping everyone safe. If you don’t have such time to do so, you can access google maps as it is an effective way of finding out about the area around properties. Google maps can help you locate the important facilities mentioned above and more. In terms of safety, you can look up New South Wales’ Bureau of Crime Statistics and Research website named www.bocsar.nsw.gov.au as they provide up to date crime reports and their corresponding rates. They even have a mapping tool that you can navigate to help you in your search for the safest city or region.

Now, let’s talk about the much-needed item in buying a property, your money. Buying a house is a very big decision which will be incurring most of your savings (if not all). On top of that, you also have to consider other fees and payments you need to make after you buy the property. It includes fees for legal requirements and conveyancing, stamp duties, valuation cost, solicitors cost, loan application fees, moving cost, transfer fees, building inspection, mortgage insurance and you might even be spending cash on new furniture, appliances, maintenance, or renovations if you have to. On top of that, you should also consider ongoing fees (if you have) and let’s not forget daily expenditures which include food, electricity, water, transportation costs and many more. You need to remember that interest rates are now increasing, and you should think about it if you plan of getting a loan.

So, you need to have a lot of time planning on where you will be spending your money. Look for properties that are cheaper than expected because you might see properties that are worth it at a lesser price. If you have failed to find one, that’s the time to look for properties well within the tip of your budget so that you could say to yourself that you did your research. Remember this as well, you would rather have the stress now that you’re on the process of house hunting rather than when you have already made the deal.

It is good to pay for your dream house in full, cold, hard cash but, with the pandemic still at large these days, you cannot just use all of your savings to buy your dream home in cash. You should have extra savings for yourself so that you could be ready in case lockdowns which results to mass buying might occur again. Thankfully, there are a lot of lenders all around Australia that is more willing to help you buy your dream house.

Since there are a lot of them out there, you also need to consider which lenders offers the best for your interest as well. You cannot just go with the first lenders you approach. You should go out and talk to brokers and lenders. Do not be complacent about loans because it can either help you or stress you out. You need to know how these loans work and most importantly take note of the Lender’s Mortgage Insurance or LMI and how it affects the amount you pay for the loan and its interest rate. LMI usually requires you to at least pay 20% of the total value of your property and it’s a good thing if you pay more than 20% because it will lessen the amount you pay for interest and can save you thousands of dollars just on interest. If you don’t even have 20% of the value of your dream home, you should never be in rush because it will be costing you more than the property alone. Think about what’s going to be the best for you in the long run because it is you who will be paying, and you should never take this for granted.

Inspections are always not taken into consideration and that is something that should not be happening when you are buying a house. When making these types of big decisions, you always have to look into every detail that might become a reason for you to back out of a certain property. You need to take in mind that not everything you see is what it seems. You should hire an inspector so that you would be sure if that house is perfect for its price or if you should let it go.

These inspectors will bring out a long list of reasons. They will definitely be giving you a longer list than what you just expected. These lists will be mostly filled with minor problems though so don’t be so shocked because that is what they are supposed to do. Just remember if there are safety hazards for you or your family. Always read and ask them if you don’t understand.

When spending so much of your savings, no stone shall be left unturned. Talk to a conveyancer or a buyer’s agent on how to get a title search. A title search will give you an official record of the ownership history of a certain property. It can also tell you if there’s anything preventing you from buying it. Just remember that each state and territories have their own requirements regarding title searches and that is why you need to consult to a conveyancer or buyer’s agent first. If you are able to get a hold of the title, check the boundaries and make sure that it is equal to what is stated on the title. If you think that it is quite small than what the title entailed, hire yourself a conveyancer so that you would know what to do and act upon it in legal terms.

Before buying, you should also ask the seller or their agent for the contract. Contracts usually have zoning certificates, drainage diagram, plan for the land and the certificate of title attached to them. It is better to get hold of it as well so that you would know what you have and will be dealing with in the future. You should also visit any relevant government bodies (statutory authorities) before you purchase it for you to know if they have any interests in the property as they might have plans of building highways that could eat up your whole backyard in the future. Having certain knowledge like these will be your power as well.

This part is a list of everything good that you should consider for you and your family. Always put your priorities first and never settle for less. Remember, you will be living, eating, breathing, and spending most of your time on that property. Your satisfaction and peace of mind is what’s important because there are a lot of houses being sold at any given time anyways. Don’t buy the property out of frustration, don’t neglect safety hazards, don’t neglect what you consider as red flags, and most importantly, never ever neglect your choices because there will always be a property that is perfect for you. It is better to buy late than to buy now and regret in the future.

Now if you reached this part, you should really ask these questions to yourself:

• Is this property worth it’s price?
• Is this property on my budget?
• What are the inclusions when I buy this house?
• Do I still have enough budget for renovations after buying this?
• How long will I or we be staying here?
• Am I close to necessary facilities and shops?
• Is this property perfect for starting my own family?
• What is the neighborhood like?
• How good are the schools in the area?
• Is the area prone to natural disasters?
• How is the crime rate in the are doing?
• Will this property provide satisfaction and energy for me every time I go home tired from work?

Asking yourself these questions will give you answers that can fortify your decision in buying a property. Always take these questions into account because these are key factors of living the happy life you deserve and dreamt off for a long time. Reaching your property goal is one of the best achievements you can make, and you should make an ultimate decision that you won’t regret eventually.

If you spot a property that checks all the boxes on your list. Then go for it. This list is made to guide you and open your eyes in finding the best house for you and your budget without compromising your taste. Just remember to not take anything for granted and take your time because new properties will be up for sale in the future. You just have to find the right one in the right time. If you still haven’t found that property even though you have the budget, then just go, and save more money and maybe even invest so that you can acquire a bigger budget.