Buying a House! The Great Australian Dream!
In addition to securing the services of a qualified and knowledgeable property conveyancing Brisbane law firm there are many things to consider when you first decide to embark on purchasing a house. These include:
- First house or investment?
- Where do you want to buy?
- What type of home do you want – house, unit, townhouse, apartment or acreage?
- Budget – What is your budget?, including:
- Purchase costs
- Sales tax
- Conveyancing fees
- Mortgage fees if applicable
- Building and pest inspection to mention a few
- Mortgage – Do you need to seek financial support from a bank or other lending agent?
- Broker or directly with the bank – Do you want to deal directly with the bank’s/lending agents or utilise an experienced broker to sift through the best loan options on your behalf?
- Conveyancing – To administer all the legal applications,transfers and documentation for a streamlined and successful settlement
As you can see buying property is a very costly and expensive process and ‘should not’ be taken lighthearted. It will be one of the most, if not the most significant capital outlay you will make in your life. To make sure everything runs smoothly from start to finish and you enjoy the process as much as you should a systematic plan needs to be implemented.
- This involves narrowing down your criteria, wants and needs from your new home, size, location, number of rooms, bathrooms, new or old, off-the-plan or from a developer.
- Pre-approved Loan/Lending Capacity – It is advisable to speak to financial lending institutions or a broker before you begin house hunting to gain an idea of your borrowing capacity giving you a buying budget. Sticking to this budget may be hard, however if you over capitalise this can be your own detriment.
- Securing the services of a trusted and experienced Property Conveyancing Brisbane law firm.
Once all the key and initial aspects have identified and ticked off the fun process of house hunting begins. Enjoy this time and don’t be rushed into making a decision until you are ready.
When you have found that dream home, contact your chosen conveyancer and they will guide you on the path of purchasing. As part of their professional services your Brisbane conveyancer should offer you a pre-contract review to ensure the contract is legitimate, they will advise on conditions which need to be implemented into the contract, such as finance approval, building and pest inspection and others as necessary. Your conveyancer will manage your settlement from start to finish keeping you posted of each stage and requesting information from you as required.
Upon successful settlement you Property conveyancing Brisbane lawyer or law firm will contact you to congratulate on the purchase.