The Do’s and Don’ts of Buying Real Estate

The process of buying real estate is incredibly complicated, especially if you’re just getting into it and don’t have any prior experience. It could cause you a lot of stress and sleepless nights, just thinking about all that needs to be done.

However, buying real estate doesn’t have to be so complicated, and simplifying the process can make it go much smoother. To help you do just that, we’ve created a list of the top five do’s and don’ts of buying real estate. 

 

Do:

Put Your Financial Ducks Into a Row

The first step of buying real estate is figuring out what you can afford, and whether your budget can accommodate what you want to get. 

You can start the process by looking at houses online to get a general idea of how much they cost, and how much money you’ll need for a deposit. Ideally, you should have at least 20% saved for the down payment, as well as enough money to cover buying costs. 

Then, see if there are any incentives you can qualify in your state, to lift some of the financial burden.

 

Account for the Buying Costs

The buying costs typically include building and pest inspection, as well as the conveyancer or solicitor rate. You should also account for the Stamp Duty, which is a one-off state government property tax that needs to be paid within 30 days of the settlement. 

Find a Trustworthy Developer

To get ahead of, and possibly avoid unforeseen costs altogether, it’s essential you find a trustworthy property development group. By purchasing real estate that comes from a developer with a good track record, you’ll ensure your property doesn’t put any additional financial strain on you in the long run.

Not to mention, they’ll be there to answer any of your questions, and accommodate your financial situation to offer the best options for you. 

 

Don’t:

Rush Into It

A lot of people get sucked up in the thrill of buying a home, to the point of becoming a bit disconnected from reality. They rush through the process, and more often than not, make mistakes that they end up paying for, for years.

So, don’t forget to take your time, examine and think about new information about real estate, loans, etc. Also, don’t rush through, or forego the inspection process, as it can end up costing you a lot of money if it’s done poorly. 

 

Settle For Anything Less Than What You Want

During the process of buying a home, you’ll probably realize that your house “hit list” can be separated into two categories — the needs and the wants. While the wants can be looked over, the needs are something you should never settle on.

For example, if you are planning on, or already have a growing family, you can’t settle for a one-bedroom home with no room to grow. What this example is meant to illustrate is that your needs will still be there in the future, and your home must be able to accommodate them.

 

Final Thoughts

The truth of the matter is that buying real estate doesn’t have to be as intense as we’ve all made it out to be. By creating a clear plan, and following our do’s and don’ts list, you’ll surely be able to take some of the stress out of it and find the perfect home for you.

Top 3 Reasons You Should Move to the Newcastle Area

For a lot of us, the last year (or a few of them) have left us desperate for a change of scenery. Not to mention, a great number of people are looking for areas where they can invest in real estate, or get set up with their forever home.

Whichever category you fall into, you’ll surely find that Newcastle presents the perfect opportunity. Still unsure? Keep reading to find out what the city has to offer, and what makes it so good to live in.

 

About Newcastle

Newcastle District is the second most populous region in the entire NSW. Currently, the population is estimated at 453,515, with a growth of 1.10% since the previous year. So, it goes without saying that it’s one of the most sought-after areas to live in. 

Part of the district’s appeal is that it’s so well-developed, allowing its residents to have everything they want right at their doorstep, and rarely feel the need to step out of Newcastle. Additionally, the city is home to great schooling options, both public and private — ranging from primary to university.

Here are just some of the perks you can expect to have if you live in Newcastle or one of its suburbs.

 

1. Great Job Opportunities

Since Newcastle is so developed, there’s no shortage of great job opportunities for all residents. Perhaps most notably, the iron and coal industries have garnered a lot of business for Newcastle, providing a great number of jobs to the residents. 

However, as the city is also home to some exceptional schools, shopping centres, and a rich cultural background, all sorts of people can find work here. Not to mention, the Newcastle CBD boasts job opportunities for various industries and levels of experience.

 

2. Fun Activities for Everybody 

Newcastle was built with the idea of offering something to everyone, and this is shown in the amenities and activities within the area.

Most residents enjoy spending their time absorbing the gorgeous views of the coast and sunken garden in the scenic King Edward park. There’s also the Blackbutt Nature Reserve, where you can hike, barbeque, and camp with your friends and family. 

On the other hand, if you prefer more laid-back activities, you could visit Stockton Beach and enjoy a day of fishing.

 

3. Diverse Housing Market

With all of these benefits in mind, it comes as no surprise that many working professionals and growing families alike are drawn to the area. Thus, Newcastle’s housing market is quite diverse, comprised of apartments and homes available for rent or purchase.

The downside to this is that real estate, most notably house and land packages Newcastle are a rarity. Instead, many residents opt for life in one of the city’s suburbs. Fletcher, Newcastle East & West are some of the most popular ones for newcomers, as they offer a lot of affordable real estate, and are close to the city’s hustle and bustle.

Additionally, they come with incredibly warm communities, as well as safe and clean neighbourhoods. 

 

Final Thoughts 

Newcastle, and its suburbs, offer the perfect balance of active and quiet living. The amenities, activities, schooling and job opportunities are plenty, allowing everyone to find their own spot in the sun here. So, if you’re looking for an affordable, welcoming place to call home — look no further than Newcastle.