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How To Survive Your Next House Hunt

August 27, 2018
Couple looking to buy a new house

House hunting seems like fun…until it all gets too real!

Looking for a new home to buy can be a stressful, time consuming and difficult process. Between trying to fit in inspections and deciding what you truly need in a property, it often isn’t a quick process.

But there are some things you can do to ensure your next house hunting expedition goes as smoothly as possible.

Be realistic about your budget

One of the main things that traps people out is not being realistic about their budget and the types of properties that will be available to them.

If you’ve only been pre-approved for $500,000 there is no point in looking at properties advertised in the $600,000 range – it is highly unlikely you will be able to talk a vendor down such a large amount.

Always try to look under your budget. While you may not get the property you truly desire, you can always work your way up the property ladder once you’re established.

Be mindful of the location

Couple buying a new home

As the saying goes, “location, location, location”. But can you really afford it? This ties into being realistic about your budget.

While we would all no doubt love to have a five-bedroom home right on Bondi Beach, it’s probably not something most of us can afford.

Once you’ve worked out what your budget is, you will then need to narrow down the suburbs you can afford to purchase in.

Utilise the tools available

You want to stay organised during your house hunt to avoid any mishaps. Make use of free tools such as homesales’ PropCalc.

This handy little tool can help you work out the approximate upfront and ongoing expenses for any property you purchase including stamp duty, legal fees, LVR, council rates, repairs and so on.

It’s a great way to work out if a property is worth purchasing and how much money may be required from week to week in running expenses, whether you purchase it as a home or investment.

Have a wish list

There are some things you just can’t compromise on when it comes to purchasing a new home.

It’s easy enough to change the vanity in the bathroom or remove a couple of plants from the garden. It isn’t however easy or cost effective to completely change the layout of the property.

Before you go house hunting, make sure you have a list of “must haves” and know the features you’d like to have but are happy to negotiate on.

This ensures you won’t be wasting your time or effort on properties that simply don’t suit your actual needs.

Be prepared

Couple moving into their new home

House hunting is hard, it’s long and it’s time consuming.

Be prepared with a list of the inspections you are attending and where they are (plus the agent’s contact details), wear comfy clothes, shoes that are easy to slip on and off (not everyone likes shoes in the house), snacks and lots of water!

Also ensure you have a tape measure, a notepad and pen on hand – you don’t want to fall in love with a house only to realise that you can’t fit any of your furniture inside.

Don’t stress and don’t rush

Simply put, house hunting takes time. But don’t let it consume your every waking moment and don’t settle on a property “just because”.

If you purchase a property in a rush, you’ll likely get hit with buyer’s remorse and start questioning whether you really made the right choice – it’s too late to start questioning yourself on settlement day.

By understanding that the search for a new home can take a good couple of months, if not longer, you’ll minimise stress levels and find that the process runs a lot smoother.

Take the time to do your research and to think about the things that are important to you in a house. As with most things in life, the more prepared you are, the less stressed you’ll be.

Looking for your dream home? 

Soho can help you find it. Set up your profile on Soho to find properties for sale and properties for rent in your favourite suburbs. But don’t just stop there, download our app to get access to more features. Just remember to shortlist or swipe left on our listings so we can send you others that better match what you’re looking for.

Soho
Soho is your expert team in Australian real estate, offering an innovative platform for effortless property searches. With deep insights into buying, renting, and market trends, we guide you to make informed decisions, whether it's your first home or exploring new suburbs.
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Our AI match engine will match you with over 150,000+ properties and you can swipe away or shortlist easily. Making your home buying journey faster and easier.