5 tips for finding a great property deal

Property markets around the country have softened, which has left many buyers on the hunt for a fantastic real estate deal.

Finding an affordable property can be challenging whether it is a buyer’s or seller’s market however, and you really need to be a little savvy and think outside the square if you want to find a fantastic property at a great price.

  1. Get in early

The early bird often gets the worm when it comes to buying property. If you’re the first person to make an offer then a seller may take you up on it rather then waiting for something better to come along.

The best properties never last on the market for long so you need to be quick to make an offer when you see a good property. This means that you should have financing ready to go so you can jump in as soon as you see a property you like.

  1. Look from ‘oldest to newest’

While you may strike gold by being the first in the door, sometimes the reverse is also true.

When on the hunt for property it’s worth looking at the properties that have been on the market for the longest. Other buyers may not search that far down the list and so you may not face a lot of competition, plus a seller that has had their property listed for a considerable time may be anxious to get it off their hands.

  1. Widen your search

If you limit your search to just one particular suburb or area then you may be waiting awhile to find a property that ticks all the boxes, particularly if it’s a popular area.

Consider casting a wider net and looking at “sister suburbs”, i.e. suburbs that have a similar lifestyle on offer but a smaller price tag.

The more areas you look at the more options you will have.

  1. Don’t judge a book by its cover

You can find fantastic properties at discounted prices simply because they have a few cosmetic issues that need fixing.

If you are willing to do some minor renovations or repairs then you could snap up a property that a lot of other people might not be willing to take on.

Just make sure that you have do the sums on what you think needs to be fixed and get a building and pest inspection done to ensure the property is as promising as it seems.

  1. Keep looking

There’s no getting around the fact that it can take a lot of time to find a property that is just right.

Don’t give up if you have been on the property hunt for a long time and haven’t found anything that suits your needs, just keep on looking and visiting as many homes as you can so you can get to know the property market and what to expect.

It’s also well worth talking to local agents to get further insight on the areas your interested in and to be one of the first to hear about new listings.

Contact Professionals Triwest Real Estate if you’re interested in discussing properties in the Werribee area.

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