For many people, buying a first home can be a scary thought. After all, you’re taking on a valuable asset with a significant home loan to fund it. You might feel dizzy at the thought of jumping headfirst into a property market with many houses to choose from. Perhaps your palms start to get sweaty when you wonder how to submit a competitive offer. But buying a first home doesn’t always have to be such a nerve-wracking experience – there are many ways you can help yourself to conquer first home buyer jitters.
Do your due diligence
As a property is a significant purchase, it makes sense to perform the proper due diligence before you finalise your purchase. Due diligence involves keeping an eye on market trends, obtaining a professional inspection for any potential purchases and putting in research regarding amenities and neighbourhoods. This will help to calm any fears you may have about the condition of the property or the area before you finally sign the contract of sale.
Get your finance done and dusted
Before you enter the real estate market, it pays to get your finance pre-approved. This will help you find out how much you can borrow so you can search for a home with confidence. Instead of looking for a home while worrying if it’s too expensive, you can have your search parameters set after meeting with a lender. Don’t forget to factor in other costs you may incur in the purchasing process, such as legal fees, loan establishment and stamp duty – otherwise you might find you blow your budget!
Stick with an agent you trust
As a first home buyer, it’s likely you’ll want to have someone you can trust by your side. From submitting your very first offer or working your way through a sea of bids at an auction, it’s important to have someone guide you on your journey. A trustworthy and knowledgeable real estate agent is the best person to help you through this as they have a sound understanding of the market and the jitters first home buyers can have. After that, it’ll be smooth sailing on the path to home ownership.