Strictly Conveyancing’s Tips For Buying Property

If you’re thinking about buying property, we have to take a moment to congratulate you. Whether it’s your first home or adding a property to your portfolio, it’s a big purchase and a cause for celebration. While the team at Strictly Conveyancing might not be real estate agents, we’ve specialised in conveyancing in Baulkham Hills for quite some time, and we’re here to impart some of our wisdom to you.

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How To Choose Where To Buy Property

One of the most challenging things to decide is where to buy property. There are so many factors that influence a person’s decision on where to buy, so it’s important to consider everything carefully and find a location that suits your needs.

  • Are you buying to live or invest? If you’re buying to live in the property, you’ll need to find a location with all the amenities you need to live comfortably. However, if you’re looking to purchase an investment property, you’ll need to consider factors such as rental yield, location growth, and what your tenants might look for in a suburb.
  • Is there much development going on in the area? Whether you’re looking to buy in an urban, regional, rural, or remote location, make sure you research current and future development in the area, as it may increase or decrease the property’s value over time.
  • Pros and cons. As with everything in life, there are pros and cons to every suburb across the country. It’s your job to weigh them up and decide whether the property in that area is right for you. For example, a pro might be centrality to a city or major town, but a con might be heavy traffic in the mornings and afternoons. A pro might be proximity to the beach, but a con might be the distance from any major CBD.
  • Look at property value in the area over an extended period. If you can, speak to a real estate agent about getting a report that indicates the property value in that area over the last five years to get an idea of whether or not the value is increasing, decreasing, or stagnating.
  • Do you know the area? There’s only so much you can learn from reports and research, and one of the most effective ways to gauge a suburb or neighbourhood is to explore it yourself. Look for property in areas you love spending time in and know very well. That way, you can be sure you’ll be happy there.

Questions To Ask Yourself Before Buying Property

Buying property is a huge financial commitment, so you need to know precisely what you’re looking for in a home now and into the future. Here are a few questions to ask yourself to make sure you get exactly what you want and need.

  • How do I plan on using this property? Are you buying a property to live in long-term, or are you looking for an investment to lease out? Maybe you’re looking for a fixer-upper to renovate over time, or you’re looking to purchase a holiday home. You need to figure out exactly how you’ll use the property before starting your search.
  • What are your non-negotiables? Non-negotiables are the aspects of a property that you simply can’t live without. Whether it’s wheelchair access, a backyard, parking, storage space, or natural lighting; make a list of the things you won’t budge on to give to your buyer’s agent or real estate agent.
  • What’s on your ‘nice to have’ list? Separate from your non-negotiables, your ‘nice to have’ list features things you would like to have in a home but are willing to forgo if necessary.
  • What does your future family look like? Try to picture yourself in 5-10 years time. Are you starting a family? Maybe your children will have grown into adolescents or even flown the nest. Do you plan on getting any pets? Do you foresee any family members coming to live with you long-term? Make sure you get a good idea of where you’ll be so you can plan for it with your new property.
  • What does an ideal neighbourhood look like? Do you like bustling urban living, or is suburban bliss more your style? Make sure you list everything you need from your new neighbourhood, such as schools, shops, parks, sports facilities, public transport, and anything essential to your and your family’s lifestyle.
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Professionals You Need To Speak To Before Buying

While you’re in the research phase of purchasing property, it’s important to make a list of professionals you’ll need to work with throughout the process.

  • Mortgage broker. Before you even start inspecting houses, it’s good to get pre-approval for a home loan so you know exactly how much money you can spend. It’ll save you the heartache of falling in love with a property only to discover that it’s outside your price range.
  • Buyer’s agent. If you’d like professional advice and guidance when purchasing a home, it might be a good idea to chat with a buyer’s agent. This individual looks for properties that suit your needs perfectly, and they advocate for you every step of the way.
  • Real estate agent. Even if you don’t go through a buyer’s agent, it’s still a good idea to speak with a real estate agent and get their insight and advice. Let them know what you’re after, and they’ll be able to find one of their listings that meets your needs.
  • Conveyancer. You’ll need a reliable conveyancer to conduct all your searches and organise the legal documentation for purchasing your new home. When it comes to conveyancing in Baulkham Hills, the team at Strictly Conveyancing are the best in the business.
  • Building and pest inspector. Typically, to fulfil the conditions of your contract, you’ll need to organise a building and pest inspection. This ensures that the property is pest-free and in a stable, livable condition.

Conveyancing For Buyers

Conveyancing is an essential part of the property buying process, and there are several things your Baulkham Hills conveyancing specialist can do to make your purchase far simpler.

  • Looking over the contract. Once you’ve made an offer for your new home, the seller’s conveyancer will help them draw up a contract. We can look over this document and advise you of the contract’s terms, conditions, and obligations. If you need special conditions added, we can negotiate these on your behalf. We’ll also look for unfair clauses, caveats, or expensive risks so you don’t get caught out with obligations you can’t meet.
  • Searches and adjustments. Even before the contract has been signed, we’ll take care of the essential searches and prepare a statement of adjustments, so there are no surprises in the form of debt or negative interest. We’ll take care of title searches, local authority searches, pest searches and assess the structure and any risk to the property. We can also take care of strata searches if you’re purchasing an apartment.
  • Checking conditions have been met. Once you’ve fulfilled the contract conditions, we’ll go over it to make sure you’ve ticked all the boxes and haven’t missed anything along the way. From there, we’ll submit the contract to the seller’s conveyancer and make the contract unconditional.
  • Settlement. On the settlement date, we’ll make sure the sellers receive the full agreed-upon amount, and we’ll work with the seller’s conveyancer to make sure all necessary legal paperwork has been submitted properly.

Contact Strictly Conveyancing For Help With Conveyancing In Baulkham Hills

Since 2006, Strictly Conveyancing has provided a range of services in property and conveyancing in Baulkham Hills and the surrounding areas. Whether you’re buying or selling property, it’s our mission to help make the complexities of the process a breeze so you can focus on other aspects of the purchase or sale. Our Australian-owned and family-operated conveyancing practice is award-winning, and when you see how committed we are to our clients and their needs, you’ll understand why we’ve built such a strong reputation in the area. So if you’re after a conveyancer in Baulkham Hills, don’t hesitate to reach out to the team at Strictly Conveyancing.

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  02 9630 5553

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