Buying the house you want in a competitive Australian market can be tough. A home that catches your eye will often times have other buyers looking at it as well. Therefore, you need to take advantage whenever there is one to be had. There’s more viable advice than looking where others are not. Here are some useful tips to score your dream home before anyone else can take it before you.
Attend more open houses. The real estate world unofficially recognises Sunday as an “open house day.” Take your opportunities to gather listing in the area or cities such as Sydney, Melbourne or Newcastle you want and attend them as promptly. This strategy goes well, especially if everyone else is on vacation or celebrating the holiday.
Take advantage of stale listing. Comparing the average time on the market to particular properties presents you with the opportunity to take advantage and capture a stale listing. Most sellers who have a house that’s been idle on the market for a month or two will likely be willing to entertain your offer. Also, don’t just assume something’s wrong with the house until you see or have it inspected for yourself. The home might simply be in the wrong listing at the wrong time or just bad marketing, repeatedly being passed up because it has been idle for so long.
It could be an awesome home, maybe requiring only a slight cosmetic change. A house that’s been on the market for a while might even be the right home for you.
Capitalise on your own worth. Sellers, especially those who are anxious to sell fast or are already exhausted from the sales process, look for more serious buyers. Many of them have spent their time showing their house, only to have people look who aren’t really interested in buying.
Try making a deal. There are fewer Ozzie buyers during holidays and off-seasons, so it may be your chance to not only score the home you want with a great deal but also get it faster. Even in a seller’s market, not all home sells fast or creates a bidding war.
If the home has been in the market for a while, then you’re in a good position to negotiate lower cost if you want to. Simply offer less than the asking price, take a chance for quick closing, or keep all the appliances with the house.
By looking for a property when the buyer pool is lesser, you can get yourself a good deal. And don’t forget, a lower price isn’t the only bonus to be had. This is also the time to inquire for any other seller features you might be interested in as well, like keeping that cool swing out back.
Cash is still king
This obviously isn’t an option for a lot of Aussie buyers, but if you can wing it, you’ll be in a better position with a cash offer. Cash closings are quick and uncomplicated. There is no concern that an appraisal will be lower than the price in the purchase contract. There are no fears that the buyer’s lender may realise something objectionable while raking him over the coals, which would exclude him from gaining a mortgage to buy the home.
If you can’t purchase a home via hard cash, then a good, flexible home loan is your second best option. Learn more information about Home Loan on NPBS home page once you’ve chosen a property you want, let’s say in Newcastle or nearby area like Sydney. Act quickly to position yourself higher than anyone else. Remember, home hunting for the right property is a race against time. Best of luck!