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House Hunting Tips

Buying a home? These tips can help make your house-hunting experience positive and rewarding.

  1. Location counts. You've probably heard the old real estate joke about "location, location, location," but the point still bears repeating. Location is crucial. How far are you really willing to travel to your place of employment? How good are the local schools, shopping centres, public transport and other public facilities?
  2. Make a list. Do you (and your partner) really know what you need and want in your home? You'll save yourself many hours of looking if you make a list ahead of time. Focus in on the features you must have, would like to have, definitely don't want and would prefer not to have. Tip: Start compiling your wish list by thinking about what you like and dislike about your current home.
  3. Do your homework. Not long ago, consumers had very little access to information about recent home sales prices, market trends, houses for sale, suburb statistics and the home-buying process. Today, all this information and more is readily available on the Web.
  4. Get pre-approved for your home loan. Use our How much can I borrow? calculator to estimate how much you can afford to borrow. Aussie can offer you an Aussie Approval card which allows you to look for a property confident in the knowledge you are approved for a specific amount. The maximum borrowing capacity may be much more than you think.
  5. Use checklists. Inspecting multiple homes can be a confusing experience for some people. Rather than relying on memory, make notes about the homes you visit. Turn your priorities into a personalised home-shopping checklist and use it track the features of each home.
  6. Wear comfortable clothing and sturdy shoes. House hunting can be tiring, especially if you're looking at lots of homes in one day. There's no sense in torturing your feet unnecessarily.
  7. Be prepared to make an offer. House hunting can also be frustrating, especially if you know in your heart you're not really emotionally or financially ready to buy a home. If you're not ready, don't put yourself through the exercise.
  8. Relax . Granted, buying a home is a major life-altering event. But it's not worth making yourself insanely crazy or super stressed. Make time at the end of your house hunting expedition to unwind, calm your thoughts and emotions and keep the whole experience in perspective.