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4 top tips for buying a property in 2019

4 top tips for buying a property in 2019

Author: Pranil Maharaj
Date: 2019-01-25

1. Plan for a deposit, even if you don't have to: Putting down a deposit, approximately around 10% of the purchase price will help to minimise the risk your bank is taking by granting you a loan. This can have a significant effect not only on their likelihood of granting you finance, but also on the interest rate they're willing to offer you.

2. Don't bypass prequalification: A good property, for a fair price, will often attract many competing offers, regardless of what the broader market is doing. The last thing you want is to find the perfect home and then lose out to another buyer simply because they took the time to get prequalified, and you didn't. Apart from making your offers more competitive, the prequalification process also helps define a realistic price range for your property search.

3. Get to know your local realestate agents: Being able to talk through your hopes, your concerns and your questions with a professional who not only understands the market, but also the area you're buying into, is a great way to get comfortable with the process and ensure you are making a smart property decisions.

4. Explore the market - and have fun: Getting to know the market is an important step for any prospective buyer - how else are you going to learn to recognise a great value property when you see one Online listings are a great place to start, but open houses give a far more complete picture. Photographs never tell the full story, and visiting a bunch of show houses is half the fun of being in the market for a new home, after all.