I was watching the movie, "THE OTHER SISTER". There was a part where the sister was trying to find a place for herself. She inquired about a flat somewhere in the city and the Real Estate Agent sent her a video about it.
I told my husband, Willy, who is a Real Estate Agent himself, what the Agent in the movie did was great. Tried to convinced him to do the same. The problem however, was, my husband, was a free lance Agent, he had no front shop, he was not connected to any Real Estate Agency, not until now where he work with Vogue Real Estate Australia. He dealt mostly with the developers and directly to the clients, going to their homes giving somewhat like a personalized service. He developed his clientele by word of mouth.
That was decade ago, now with the evolution of internet, changes almost everything. So as the Real Estate Agencies. Unlike before that you need to go the Agencies or read the newspapers if you want to buy a house. Now Agencies have their own website or there are websites where almost all Real Estate Agencies post their properties for sale or for lease. So, you just have to open your computer and visit the website and look for a property, within your budget, in the area you want. If the address is given, you can google it and if you like the area, you can drive pass there or ask the Agency for appointment to have an inspection of the property. Oh, and yes Agencies are now starting to have a video of the properties just like in the movie I watched. I like the First National where the Agent is like a TV presenter, presenting her property for sale.
When buying a house, I think the first thing to do is checking your finance. It's somewhat pointless looking for a house, and assuming you found one that you really want but not be able to get it coz you have no or lack of capacity to buy it. You will only be disappointed. So you go to the bank and inquire about getting a mortgage loan or maybe to a mortgage broker. If everything is fine with you, you've got no other loans, have a very good income, less dependents, go directly to the bank. Otherwise you go to a mortgage broker, who will help you with a strategic plan on how and where to get the loan. Brokers are good especially if you have other loans or you're getting a second mortgage or whatever. When choosing a bank, it should be the one giving an offer that suits your situation. When finding a good Broker, i think it's good to ask your friends or relatives. If talking to your new found broker makes you comfortable that you can almost tell everything, then that's good. But when the broker is someone so domineering and just want you to follow everything he says and or he's not interested talking to you, or he's somewhat jealous with your situation ( you can feel it! ), then change broker at once, don't continue dealing with him.
When you're now quite sure of your finance, then start looking for a property. People have lots of considerations when choosing one for them (himself/herself/family). We ourselves, look for the location, the structure, the set up or lay out for the functionality and the potential, meaning, how much and how long will it appreciate in value. Check out your options. What do you want, a brand new house, house and land package, off-the-plan property, land and design/build your own house or an existing property, including heritage houses. I'll go first for an existing property. Then when we have enough equity from the property then will go for the land and design/build your own. My other two sons want to buy heritage houses. One son though, said it will be scary, there might be lots of ghosts. I said, it's alright as long you're friend with the ghost. As long as there's no murder that happened in that house.
Buyers of house/s can either be an investor or owner occupier. As an investor, I would look for a property that can have at least zero vacancy rate. Wherever it may be. Because at the end of the day, what I wanted is income from it. Whereas, buying a house for me and family, requires so much considerations. We have to ask every member of the family what does he/she want...maybe bigger rooms, bigger kitchen with bigger walk in pantry, it should be near to school/work, etc. No matter who's gonna pay for the mortgage, no matter who's name/s will be in the mortgage, the matter is that we will all be living in that house. You do not want someone unhappy in your family. Maybe you couldn't get what you want all at the same time, but there's always later. Just make sure there's a provision that you can do it later when you settled.
We've been to different Open Houses, when everyone interested in that property can come and inspect it, all at the same time. But I don't like it! When I go to this thing, instead of looking at the property, I was looking at the people coming and thinking, analyzing them whose gonna get the house. I still prefer to inspect the property by myself, i mean, just us, family, no other people. Funny thing, there are Real Estate Agents, who are so cautious that sees everything you do when you're inspecting a property as if you are a thief. Huh! So annoying! Another Agent talks a lot that you don't have the chance to feel the house. I like an Agent who gives you space to thoroughly see the property and contemplate. When I see a property, go inside it, I want to have that warmth, peace, welcoming feeling and that, will I call home.
Pricing of the properties now are different. Before, though very few others are still doing it, they've set a price already. Now, they're sort of having a secret auction. I know the Agents are doing this. They put price like, " from $$$...". Then they ask the potential buyers to submit their offers to the Agent, who will then submit it to the owner.Then the owner will accept obviously the highest offer. How would you know if your offer has been considered or whatever, especially if there are many contenders or say "bidders" ? I prefer to go to a real/public Auction instead of this. But that's the game now! What can you do?!
Then finally, if you find the property you want and that suits your financial situation, go for it. Act quickly, otherwise you'll gonna lose it. Once the keys been handed over to you, make a promise that you will take care of it. Maintain or beautify it as often as possible. The words of the lady valuer keep on reminding me,..."what have you done, what improvements you made since the time you bought the house?"
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