Hints for home buyers

Buying a house is usually the biggest decision a person or family makes. Few people can buy real estate without the provision of finance, usually formalised in the form of a mortgage. The mortgage is no more than the security for the payment of the debt. The amount you can afford depends on what you can repay. Calculate the amount that you can repay by using the mortgage CALCULATOR.

It is also advisable to conduct a title search. The titles are kept at Landgate. A title search will reveal the name(s) of the owner(s) and also mortgages, caveat(s) and easement(s).

It's also advisable to investigate programs that helps you towards ownership, whether itíll be the Purchase Assistance Scheme(s) provided by the government or others.

There are different ways to obtain a home. You may

  1. buy an existing house through a real estate agent,
  2. go and see a draftsperson and then a builder to build your house, or
  3. buy a home from a project home builder or
  4. visit an architect who will design your dream home.

The following gives you some advice on the above options.

1. Buying an existing house through a real estate agent
The saying in real estate is location, location, and location. Although true this may not always be the salient point in selecting your home. The advantage of buying an established renovated house is obvious, but if you buy an older home to renovate it, then you must weigh up the pros & cons.

Depending on your needs, a house with a big lot in the hills may be more suitable then a house on a very small block in the city. These decisions are essential before you look for your home.

The house should be carefully inspect of structural damages to avoid repair costs that may be required. Make sure everything is in working order (reticulation, air conditioning, electrical outlets like light fittings, hotplate, oven, plumbing fixtures like taps, showerheads, etc). Anything that isnít working should be fixed before you sign an offer; or make it subject to be fixed before settlement. List all the issues that are subject to your offer.

2. Draftsperson and Builder
Before you see a draftsperson you should have made a rough sketch of your house. Draftsperson are not trained like architects and do not prepare specifications. You must be familiar with all building related matters to be able to discuss the building contract and the construction of your house with the builder.

3. Buying a project home
This is the most convenient way to acquire a new home. Project home builders have display homes and you can exactly see what you get for your money. Project builders have standard contracts and you should take them home and study them carefully. Only sign if you are fully conversant with all the clauses of the contract. If you have a stringent budget donít sign anything apart from a fixed lump sum price.. Avoid variation during construction because this can be costly, and may stretch your budget beyond your limit.

4. Visit an architect who designs your home to your specific needs.
If you have a specific idea of your dream home, the architect is the person you should contact. The architect advised you on pre-design services (site selection, zoning, finance, preparation of brief etc), and if you are happy he/she continues with the final design and contract documentation. You may also arrange post construction services (record drawings, maintenance manuals, commissioning assistance etc.).

Please don't hesitate to contact Boeing Consulting if you want advice on building related issues.