We asked Your Property Hound to share their expert advice and 3 reasons first home buyers should use a Buyer’s Agent.
In this blog we also cover the most frequently asked questions, the benefits of using a buyer’s agent and how you can get your dream house by making your offer more attractive to a seller without offering more money.
Here at North Brisbane Home Loans we like to go the extra mile to take the stress and hassle out of finding – and moving into – your dream home. This article from our of partner is just one example of this.
Plus if you’re a North Brisbane Home Loans client, you’ll get access to exclusive discounts from our partner network, including $500 off buyer’s agent fees with Your Property Hound. Find out more about our special partner offers here.
Buyer’s Agent FAQs from First Home Buyers
Here are the most frequently asked questions we get from first home buyers:
Will I be able to find my dream property, in the right suburb and in my budget?
Research is key! Search past sales in your criteria before you start inspecting properties to get an idea of what the market is like.
What additional costs are there when buying a home?
What should I look for when inspecting a property?
It’s best to avoid properties with costly issues, look out for these things on inspections:
- Cracking in brickwork can be a structural issue
- Water damage in wet areas
- Retaining walls and drainage problems in the yard
3 Reasons a First Home Buyer Should Use A Buyer’s Agent
Here are some valuable ways a buyer’s agent can help first home buyers:
- A buyer’s agent is will ensure you aren’t being taken advantage of by providing advice, support and helping navigate the negotiation process. The negotiation process can be extremely stressful and emotionally charged, leaving you paying more than the property is worth.
- At Your Property Hound, we will assist with property searches and inspections. In addition to carrying out detailed due diligence and providing advice on pricing. We will perform negotiations directly with the sales agent to get the best possible price and conditions.
- We will even support you through the settlement process until the contract is finalised. Including arranging conveyancing, building and pest, and pre-settlement inspections.
How can I get the best price and still beat out other offers?
All house prices are negotiable, and many more factors than just the price can come into having your offer accepted. Sale prices will depend on the level of interest in the property, how long it has been on the market for, and how motivated the vendors are to sell.
Before you raise the price of your offer there are a few other things you can do to make it more attractive to the sellers:
- Shorten the settlement period
- Have your finance pre-approved so that it is not part of the conditions
- Waiving conditions such as the building and pest, cooling-off period etc
Top 5 things every First Home Buyer should know
- Not all advice is good advice.
Friends and family may be well-meaning, but not experts when it comes to purchasing a property.
- Buying property can be an emotional roller-coaster.
Don’t let frustration or disappointment put you off your search
- No property is perfect.
Be prepared to make some changes to a property over time.
- Think long term.
Try to buy the property you can see yourself living in, in 10 years time.
- Be on site for building and pest inspections.
Don’t rely on written reports, instead speak to the inspectors directly to better understand their concerns.
How much does it cost to engage a buyer’s agent?
The cost varies between agencies and depends on the level of service required. The total cost for a ‘full service’ typically starts at around $9000+GST. A portion of the fee is generally paid upfront, and the balance of the fee is paid when the contract goes unconditional. However, most buyer’s agents will make up for this cost in the negotiations.
Your Property Hound is offering $500 off their fees for North Brisbane Home Loan clients. Read more of our partner offers here.
Everything First Home Buyers Need to Know about Buyers Agents
Find out everything you need to know about purchasing a home for the first time, including how a buyer’s agent can get you the best price.
Get in touch with the team at North Brisbane Home Loans on 07 3889 9719 or enquire online here.
You can also connect with Matt Reeves from Your Property Hound on 0422 303 103 or send him an enquiry here.
North Brisbane Home Loans is Brisbane’s leading mortgage brokers with more than 90 years’ combined experience.
We offer expert advice on a huge range of services including First Home Loans, Purchasing Your Next Home, Refinancing or Home Loans for Self-Employed. Contact us today on 07 3889 9719 or enquire online today!