So you are looking at purchasing a property.

Questions should you ask to avoid confusion and stress when looking to purchase a property

What am I hoping to achieve from the purchase?

This seems like such a simple question but many buyers do not stop to ask themselves this first to clarify why they are buying. Do you have a specific need or are you just purchasing because you have been told by friends and family you should?

What is my actual budget?

This is one of the fundamental questions before you do anything! Just because you can get a home loan for a specific amount does not always mean it is correct for you right now and that you can afford it. By asking this question straight up it will also help you to identify the locations within your budget, making your research easier.

If there is more than one party involved in the purchase what are the negotiables and non-negotiables for the purchase?

Typically, this question is for husbands and wives/partners. I find both parties have different opinions on what the next home ‘has’ to have for them. I strongly suggest to my buyers to separately sit down and create a list of negotiables and non-negotiables in the purchase. Then, once this is done, sit down together to amalgamate this list to unify you moving forward. There will often be things on the negotiable list which are unfulfilled as unless you are building, very rarely do you find a property with everything you want. These negotiables can be added later -like a pool or man cave to customise the property to suit your needs.

What is happening in the area?

This is a great question to ask when looking at different areas to buy, what is the future growth? Are there road/development applications and expansions that are planned that may not be evident straight up that will affect your property either positively or negatively.

Is the proximity and location correct for me?

Do you need to be close to schools, sporting facilities, shops, transport etc.? Does this location give me the proximity I need or will I get frustrated soon after the purchase with the amount of travel required or lack of services?

Are aspect and position important to me?

Position and location are not always thought of by a purchaser, in fact they are quite often over looked or dismissed in a property that meet the buyer’s other requirements. Position is, and aspect are, very important to consider when purchasing. Will the house allow natural light in? What direction does the weather come from? Will it be warm in winter and cool in summer? Does it look directly west with no protection from the sun making it unbearable in summer?

Realistically what will I get for my money?

All too often I get presented with a list of non-negotiables in a property that we are looking for in a certain area. To give you a better idea, buyers regularly come in with a list of things that they need in a home and it must be Buderim “on top”. Realistically, properties matching their description start at around $900,000 and go up from there, this is all great until we find out the upper limit in their budget is $480,000. We can certainly can find them a property but they need to alter the location or non-negotiable list for purchase to achieve their ideal property.