My husband and I keep missing out when it comes to purchasing a new home. Sometimes we are not getting an opportunity to have an inspection and other times we are simply out-negotiated. What can we do? Julie, Port Macquarie
A. Julie you are not alone, it is happening to many home buyers, particularly first time buyers. This is a product of supply not keeping up with demand and the fever-pitched urgency some buyers feel about winning what they perceive to be a property race.
Competing with tax-advantaged investors and cashed up baby boomers is not easy, but don’t feel discouraged.
If you want to stay on top of what’s new on the market, you can register online for new listing alerts via various agents’ websites and the popular real estate portals.
Try to inspect properties that appeal quickly. Where possible take an extended lunch break or get away from work early or for a couple of hours to provide you with an early bird opportunity to inspect. This beats turning up to an open house with twenty other buyers any day.
Most importantly be prepared. Make sure you’ve done your research, have your finance, conveyancer and building inspector in place, ready to act, so you are prepared to pay your deposit and enter into the contract promptly.
Julie, don’t be tempted to hasten a purchase decision recklessly – get on the front foot, be organised and I’m sure you will land your dream home. Answers are general comment, and readers should always seek their own independent professional advice.
Send your real estate questions to email@example.com Greg Trembath is Principal/Licensee at Greg Trembath Real Estate. Licensed Real Estate Agent – Licensed Auctioneer.