Buying Tips

Firstly, congratulations! Buying a property is an exciting opportunity in anyone’s life.

We understand it is one of the biggest financial commitments you’ll ever have to make, so we understand it can be a stressful period.

Carlton Real Estate have been helping their clients buy their dream homes for the past 38 years. Our agents are formally trained and can assist you in selecting the right suburb, the right home and negotiate the sale.

We aim to make the end-to-end experience as uncomplicated and streamlined as possible, through our experienced agents and high-tech sales systems.

Below is some information to help you get started with the buying process.

We welcome you to get in touch with us to discuss your personal goals and objectives when it comes to buying the home of your dreams or ideal investment property in the Southern Highlands – we would love to help. Contact us today on (02) 4871 2622.

 

Carlton Real Estate Buying Information

Spend Some Time Researching

The fun part! Explore the Southern Highlands and spend time to see what area feels like home to you. Devote some time researching the area and the nearby local facilities including shopping centres, schools, medical facilities, proximity to transport, recreation and other amenities important to you and your family. Check out our ‘Suburb Profiles’ tab to get an overview of the local towns and villages within the Southern Highlands. Research recent sales and the price of properties on the market to obtain an indication of property values and a better understanding of the market. Please ask us for a free suburb profile and market update report to keep you up to date with market trends and recent sales in your local area.

Set Your Budget

Establish a realistic budget and determine how much you can borrow and afford to repay, ensuring you also consider stamp duty. Consider consulting with a financial advisor to have your finance pre-approved before making an offer on a property.  This will provide you with piece of mind and will also greatly assist in the smooth purchase of your perfect property.

Choosing a suburb

What makes a good location?

  • Access to transport
  • Schools
  • Shopping
  • Parks & gardens
  • Freeway access
  • Neighbourhood
  • Affordability
  • Proximity to work or family

Type of Property

Determine what type of property best suits your needs.  Are you after a free-standing home, townhouse or a unit?  Or do you want to build or are you looking for a rural property?  Will you live in the property or do you wish to purchase the property as an investment?

Property Features

Develop a short list of requirements that best suit your needs and wants.  Particularly consider the maintenance and upkeep required to keep the property looking at its best and in good condition.

For guidance ask yourself the following questions:

  1. How many bedrooms and bathrooms do you need?
  2. Would you like a new or established home? 
  3. Would you like to renovate?
  4. Would you like a large or small backyard?
  5. Would you like a garden or acreage?
  6. Do you need a carport or garage?
  7. Would you like a pool? Or space to build a pool?
  8. Are stairs suitable for your needs?

If you are purchasing an investment property, it is also vital to consider the needs of potential tenants.  It is also a good idea to speak to one of our agents to find out the types of properties and property features that gain the highest returns.

Establish A Wish List

Now you know the location and key property features, you can pull together your wish list. Developing a clear goal of what you want will help you to discover what you are looking for. Determining the ideal location, the type of property, key property features in order of preference. This will all be beneficial to us also when determining the perfect property for you.

Choose a Solicitor

Lawyers or a conveyancing company are an added but necessary expense when buying a home. Choosing someone who knows the local area is important, we can recommend some local solicitors and conveyancers for you to consider if needed.

Agent Meet & Greet at Carlton Real Estate

You are welcome to arrange a time to come in and speak with one of our agents to let us know what you are looking for.  We will be able to help guide you in your search by providing advanced notice of upcoming off and on market listings and email notifications of properties as they become available.  We will also be able to arrange inspection times to suit your individual needs and requirements.

Contract

Draft Contract of Sale copies are kept on file and available to you. Once a successful agreement has been reached, a Sales Advice will be forwarded to your nominated solicitor or conveyancer. They will advise you of any issues you may need to consider before purchasing the property.

Building & Pest Inspection 

It is a good idea to engage a pest and building report before committing to purchase the property.  This will make you aware of any hidden structural problems or pest issues, which may need to be addressed prior to the sale.

Buying at Auction

If buying a property at auction, ensure to arrive early, bring appropriate identification and make sure to register as a bidder before the auction begins.  You may organise for someone to bid on your behalf provided they have a bidding authority form signed by you. Generally, a 10% deposit is required should you be the successful bidder.  If the property fails to reach reserve, the highest bidder normally has the first right of negotiation for the property. Due diligence must be done prior to the auction as the successful bidder is obligated to exchange contracts at conclusion of the bidding process.

Your Deposit

Generally, a 10% deposit is required from you before or on the exchange of contracts.  Your deposit is then held in the agency trust account pending final settlement of the sale of the property.

Exchange Contracts

The vendor of the property will sign their sale contract and the solicitor/conveyancer will arrange to exchange the contracts.  Usually the final settlement of the property takes around 6 weeks, however in some circumstances this may be negotiable.

Inspection Prior to Settlement

It is highly recommended for you to undertake a pre-settlement inspection of the property before settlement occurs.  This will protect your interests by allowing you to ensure that the property is in the same condition as when you agreed to buy it and that all the inclusions meet the final contract specifications.

Collecting the Keys

Once Carlton Real Estate have been notified that your settlement has been finalised, it is time to celebrate.  It’s time for you to come in to our office to pick up the keys to your new home and celebrate.