Short Form Valuation – A Home Buyer’s Most Valuable Tool

Buying a property is a significant investment milestone. It does not matter whether you are just starting a family or are headed for retirement. Careful consideration must be made before a purchase like this can have a major impact on your financial health. Here are some important factors to think about before you shop for a new home.

First, determine whether you really need to buy a home or if you can simply rent one out. This may seem like an obvious idea yet many people who do not really need to buy a house push through with the purchase. If you do not really intend to stay put in a particular location, renting a property is your best option.

Should you really need to have a place you can call your own, it is a good idea to ensure that you have a good credit rating. This will serve as your leverage when you shop around for a loan. Months before you start looking for a suitable property to buy, it would do you good to get a copy of your credit rating and the corresponding adjustments. When everything is in order, you might want to get pre-approved for a housing loan. First, this allows you to save time for processing the requirements should you find a suitable home to buy. Second, by having a pre-approved loan, you are sending a message to the home seller that you are a serious buyer.

Of course, almost everybody wants to move into a big house in a posh village but try to keep things grounded. When looking for a home to buy, stick to those that you can actually afford based on your family’s income.

In choosing a home to buy, consider its proximity to vital facilities like schools, hospitals and malls. Apart from the convenience this will give you, when the time comes for you to sell that property, you can use its good location as your leverage for a good selling price.

When you have finally found a property that you intend to buy, do not make a bid without doing prior research. Consider getting a short form valuation from myrp.com.au. This brief report contains an objective assessment of the property as well as the median price of properties sold recently in the area. You can use this to determine whether the property you are eyeing to buy is within the median or if its price has greatly deviated from the average price. In turn, you can use this information to bargain with the seller.

Before reaching an agreement with the seller, it will be to your advantage to get the home inspected by a professional builder or engineer. This professional will pinpoint any potential issues that can give you massive headaches and cost you thousands of dollars.

About the author: Oliver Finney is a real estate enthusiast who makes use of the Internet to gain significant amount of knowledge about the ins and outs of the real estate industry. He actually visits sites like http://www.myrp.com.au. He shares what he has learned through writing informative content.

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