Are you currently renting and saving for your first home? Or maybe you’re living with family or friends, and are ready to take the first step towards owning your own property. Whatever your situation is, buying a house, block or property for the first time can be incredibly daunting.
The mining boom has slowed down, and house prices across the country are moderating – meaning they have hit a middle ground and are no longer unattainable for first home buyers. Property in areas of Perth that were previously out of reach for the average buyer are now competitive again, and it’s a great time to invest!
Location, location: When choosing an area to
invest in, ensure you talk to your local real estate agent about the best up and coming areas and spots to invest in. First home buyers often stick to areas they know or already live in, rather than taking into account what areas may work best in the long run.
Size: It is obviously important to know what size home you are looking for when you begin the process, and to take into account whether you will need more room down the track. But it is also vital to look at the size of the block you will be
purchasing, the type of land it is on, and the
potential for subdivision or extensions in the
Distance from amenities: Whether you are buying a home for your own use or as an investment property, it is important to take into account what is nearby. Schools, local shops, and transport are the big three, and punters are much more likely to invest in or rent a home with close access to these amenities.
Financial factors: The money question doesn’t start and end with: can you afford the deposit? You also need to make sure you can afford mortgage repayments, rates, maintenance, bills, and all the other bits and pieces that come with owning a property. Seriously take these into consideration and work out a weekly budget.
Those are just four of the key questions to consider when you decide it is time to invest in a home or property. There is much more to think about along the way, and that’s where our friendly ACTON Perth real estate agents and property agents can help you!
Whether you’re considering renting or purchasing and investment property, give the professionals at ACTON a call, your perfect property is just a phone call away.