Property Buying Tips

At One Property Consulting, we like to arm our clients with the skills needed to venture safely through the real estate jungle. You might be considering commercial property versus residential property, or wondering whether now is the right time to enter the market. Whatever you want in real estate, we can provide you with essential property buying tips to ensure you achieve what you’re after. Here are just a few.

Investing wisely

• It’s essential that you understand property values in the area that you’re wanting to buy in. That means visiting every property for sale in the area and following up auction results. You need to research as much as possible, to ensure you know your target market.
• If you find a property that looks like it might be what you want, ask your lawyer to review the contract.
• For a strata title property, ask about the owners’ corporation. Find out what’s going on now and in the future.
• Arrange building and pest inspections. Even if they uncover problems, at least you’ll know what you’re dealing with and can allow for that in your pricing, assuming you still want to proceed.
• Learn some basic negotiating skills.
• Know how auctions work so you don’t get bullied or led through an unnecessary upward bidding spiral.

Things to look for

• Try to find properties that are yet to enter the market. One way to do that is to talk to people at open houses. You might find some who are thinking of selling in the same area.
• Search the internet for property addresses. You might find that the property has been on the market for a long time, which can place you in a strong bargaining position.

Needs more information on property investment Melbourne? Contact One Property!