February 24th 2017
You’ve been searching high and low for your perfect first home; analysing the location, price and floorplans of the properties you come across—you think the facts are all there! Before you make a decision however, it’s best to seek some advice from people who have been in your shoes before, so you can ensure the final decision is the right one.
To help you begin, continue or finalise the search for your first home, we have compiled some tips and tricks from our agents Kate Garvey and Steven Zervas who understand exactly what you’re going through—because they’ve recently been there!
What’s the best advice that you received before buying your first home?
Kate: “The best advice I received before buying my first home was when calculating how much you can afford always do the following: crunch the numbers of how much your repayments would be if interest rates went up to 15%. If you can still pay your monthly repayments at that cost, you can afford it!”
Steven: “The top advice I received was to save up at least 20% deposit to avoid lenders mortgage insurance, buy the best house I could afford and shop around for the best home loan rate—don’t be afraid to look outside from your normal bank! Get out to as many auctions as possible to see who is bidding, how they are bidding, the vibe of the crowd and get to know the agents.”
What tactics did YOU implement?
• Buy the best home you can afford
• You may need to make some compromises—your first home is not your dream home
• Have a short and long term plan—your first home will not be the last home you will ever own
• Get into the market as soon as you can. History shows that property prices increase over the long term; what may seem like a lot of money now won’t be in 5/10/20 years time. You will find a way to service the loan—just get in the market!
• It’s always a good idea to buy close to shopping facilities, a freeway and public transport if possible
• Always ask the agent if the vendor will sell before auction
• Open for inspections are a great insight into whether a home is popular or not
What are your top tips for first home buyers?
Kate: “Ensure you get something with land. I would suggest thinking outside the box; invest in another location like Adelaide or Reginal Victoria to get into the market.”
Steven: “Be careful when buying into a body corporate complex. Find out exactly what you are paying fees for, and get a building and pest inspection. Always get a legal representative to check the contract and section 32. Don’t be afraid to ask the agents lots of questions and even get them to send you recent comparable and relevant sales around the property you are interested in. Don’t forget that stamp duty is around 5.5% on top of the sale price!”
Ready to tackle the task of buying your first home? Have a look at the properties we have recently added to the market, or contact Shore Financial on 1300 416 700 for obligation free advice on home loans.
February 23rd 2017
Craftsman built and tastefully finished with exceptional attention to detail, this new prestige family residence sits in a peaceful and leafy setting. Expansive living and entertaining areas include a study/sitting room, lounge/home theatre and upstairs rumpus/teen retreat.
The highlight of the light and open floorplan is the expansive, provincial influenced kitchen and family/dining space with its stainless-steel Blanco appliances, Carrera marble splashback, oversized caesarstone island bench, walk-in pantry and separate butler’s pantry. The adjoining undercover terrace and plunge pool add to the alfresco appeal of this outstanding home.
Koonung Creek Reserve and walk/cycle trail, Koonung Secondary College and city bus are within easy walking distance. Local shops and cafes, supermarket, primary schools, Westfield Doncaster and the Eastern Freeway are just minutes away.
Click for more information about 20 Chessell Street, Mont Albert North
February 22nd 2017
WONDERING how to choose the right real estate agent to sell your home? It seems like a simple task, but when it comes to getting the best price for your most valuable asset – finding the right agent is key. Here’s a few tips to get you started.
Fletchers Director, Jeremy Desmier, says research, referrals from friends and your own judgment are key in finding the right agent to sell your property.
“The best way to find an agent to represent you is research. Look at who is getting consistently good results in your area. Fluking one big sale doesn’t mean an agent can deliver the same result for your property.
“Referrals and recommendations from friends who have recently sold or purchased a property are invaluable”.
Above all, Jeremy recommends property owners use their own judgement.
“If you need to interview more than one agent, appoint the one who you feel will do the best job and market your property to the widest possible audience. This may not be the agent who quotes the highest potential sale price, and is almost never the one who offers the cheapest commission.
“And if you’re in the market to buy, take note of about which agents have been professional, responsive, and displayed integrity in their interactions with you, while still working hard to negotiate the best result for their client – the seller”.
Agent referral sites aim to connect potential sellers with a number of agents in their local area. The chosen agent then gives a cut of their commission to the referral site. So what’s the catch?
Although the process seems simple enough, Jeremy warns that there are issues with the way these sites work and encourages sellers to conduct their own research before choosing an agent via a referral site.
“Generally, little or no effort is made to accredit or qualify the quality of the agents referred. They don’t mind which agent gets the job, as long it’s an agent that they have a referral arrangement with.
“These sites use clever marketing, claiming to provide valuable comparisons and reputable agents, to gather seller contact information, and then sell the information to numerous local agents as a ‘lead’. The agent is charged a referral fee, usually calculated as 20-30% of the agreed commission.
Jeremy encourages sellers to be particularly wary of referral sites that list agent’s fees as a point of comparison.
“If you’re comparing agents only on their level of fee, they inevitably end up with a low quality agent. If you think about it, you are appointing someone as a professional negotiator to maximise the price of a substantial asset. There is definite irony in appointing a professional negotiator to represent you based on who will offer the cheapest commission rate”.
February 21st 2017
A manicured garden landscape with verdant lawns and a substantial central courtyard with a fountain centrepiece are a perfect backdrop to this exquisite 4 bedroom plus study residence on 1.5 acres approx.
Every living space provides the opportunity to socialise, relax or enjoy a range of activities. The massive games room with fitted bar, dedicated theatre room with tiered seating, formal dining room, and inviting meals and family room with gas log fire are balanced by the attraction of a sweeping under-cover alfresco zone with outdoor kitchen.
Catering is a breeze within the deluxe chef’s kitchen with large granite surfaces, 2 ovens and a walk-in pantry. The main bedroom features a retreat, dressing room and lavish marble and porcelain dual vanity ensuite.
In the exclusive and highly sought after Carrington Estate, appreciate the close proximity to Lysterfield Primary School and Eastlink.
Click for more information about 97 Grange Drive, Lysterfield