Top
Buying a property is one of the most expensive investments you’ll make but also one of the most challenging. Because of this, many people make mistakes, especially when buying their first property. Here are the most common ones so you can hopefully avoid them.
Wrong buying decisions are often made because people don’t plan and prepare. Before starting to look for a property, decide what you really need, select some suitable neighbourhoods and get finance pre-approved so you’re in a good position to negotiate. Only then start to look at properties in neighbourhoods you’ve chosen.
Some people buy a house in Cairns based only on their view of the house itself. They forget they’re likely to be living there for a number of years and so, if the location’s wrong, they’ll almost certainly regret their decision for a long time. Check the transport links, local schools and amenities, that you’re not moving into a high crime neighbourhood and that there are no plans for the area that will alter its character.
Many people are so keen to buy a particular house they pay more than they can afford. That stretches their finances and they can suffer for many years as a result.
Before you start to look for new build homes or anything else, work out how much you can afford to pay. Take everything into account and then, once you’ve established a figure, resist all temptations to go above it. Just because a finance company offers you a particular level of mortgage doesn’t mean you have to take it.
If they bother to set a budget, many people don’t take account of everything they have to spend. In addition to moving costs, allow for stamp duty, conveyancing and legal fees, bank charges and building and pest inspections. For ongoing costs in addition to the mortgage, allow for insurance, rates and maintenance costs that are extra to those incurred when renting.
Some people buy a house because they fall in love with it and forget about practicalities. At the other extreme, frustrated buyers who have failed to buy a suitable property despite several attempts often buy one because they’re fed up with looking and just want to end the process.
The rule when buying a house, whether from a 3 bedroom plan design, 4 bedroom house plans or whatever, is not to let your heart rule your head. Instead, look at the practical aspects of a property and only buy it if it truly suits your needs.
The situation with home loans can be extremely confusing, especially for first-time buyers. There are fixed and variable rate loans, split home loans, ones where you pay off only the interest or principal and interest repayment versions. If you’re not careful, you may end up paying more than you expect or have a residual amount to repay at the end of the loan period, which you need to finance separately. Use a professional home loan specialist to help you choose correctly.
At Cairns Quality Homes, we can help you avoid a lot of the basic mistakes because, as experienced Cairns builders, we know the problems. It isn’t as easy as just looking at 2 bedroom house plans in QLD and then making a choice. We have display homes in Cairns plus plenty of plans and ideas as well as a wealth of experience to guide and support you.
There are several reasons as to why you’d want to build a house rather than buy a pre-existing one. With your own space you can bring your visions to life and have a home that is truly yours. You may wonder what costs are involved in such
Most people like to be on holiday and have happy memories of the places they’ve been. Having a home in the Northern Beaches area can be like being on holiday all the time and there are plenty of other benefits to be gained from living
Buying a new house is an exciting prospect but also a challenging one, especially for a first-time buyer. But there are plenty of new construction homes available so here are some tips to help you get the right one. 1. Plan and Prepare The
Buying a property is one of the most expensive investments you’ll make but also one of the most challenging. Because of this, many people make mistakes, especially when buying their first property. Here are the most common ones so you can
A home generally means a lot to the people who live in it so it’s important you make the right choices when moving. Those choices can include whether to buy a house or have one specially built and there are arguments either way. 1. Cost
© 2024 Cairns Quality Homes
Website design refresh by Mindwire 
