Before you start searching for your new home, you should speak to a bank or a broker and find out the amount you can spend. It is important to consider stamp duty and other fees associated with your purchase. You should consider obtaining a written loan pre-approval.
Why get Pest & Building reports
We recommend that you obtain a pre-purchase inspection report, so you can identify problems which may potentially be costly to repair. A building inspection will account for the property’s condition, including any cracks, safety hazards or faults. A pest report will identify if there are any pests present and specifically look for past and present termite activity.
Good questions to ask agents
- Why is the owner selling?
- What is included in the sale?
- How long has the property been on the market?
- Has the owner received any offers?
- Are all the additions council approved?
- Have any pest and/or building inspections already been done?
- What are the council rates and/or strata fees?
- Where are the local schools?
- What is the neighbourhood like?
First Home Buyers
In 2017 the NSW Government introduced new policies to assist first home buyers in purchasing a home. Stamp duty was abolished on existing home purchases up to $650,000 and reduced for purchases up to $800,000 for first home buyers. First home buyers also receive a $10,000 grant to go towards their purchase if they build a new home up to $750,000 or buy a new home up to $600,000. https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/