4 min readBuying a new home can be daunting, but enlisting the help of these top experts will help you ace your house hunt each and every time!
We’ve covered off the advantages for home buyers to seek the support of a buyer’s agent, mortgage broker, solicitor and conveyancer in part 1 of this article.
Here are three additional experts that’ll help you find the perfect property to suit you and your family best.
Building & pest inspector
Another definite MUST on your expert list when buying a property is a building and pest inspector.
Adding a building and pest clause to your purchase conditions is highly advisable. As soon as you’ve signed the contract, call in the inspector to go over the property with a fine-tooth comb.
After all, you’re investing a substantial amount of money into your new home, you want to make sure you’re not buying someone else’s problems.
A building and pest inspector will check out your soon to be new home for any building issues, any potential problems with the property (or issues that could potentially become a problem), along with tests to check the home is not infested with termites, borers or any other nasty little creatures.
A good building and pest inspector will pick up every issue with the property, even the minor issues, and provide you with a detailed report that outlines the defects alongside extensive photos.
Don’t be alarmed if the defect list is particularly long, remember, it’s their job to pick up every issue, big and small. What should alarm you is if they find absolutely no defects. I’ve yet to find a house that an inspector has NOT picked up any problems.
When you get your report back, you can decide if you’ll accept any defects to the property, withdraw from buying the house because of the defects or ask for a reduction in the sale price to have any issues addressed.
A building and pest inspector can’t tell you what to do in regards to proceeding with or withdrawing from the sale but they can give you further advice as to how extensive any repairs are likely to be.
There may be some serious structural or water issues with the property that could set you back thousands or the report may only show peeling paint or loose floor tiles that could simply be a quick inexpensive fix.
Regardless, you’ll never really know what you’re buying unless you get a thorough building and pest inspection. Factoring in the cost of a building and pest inspection into your buying budget is essential and being present during the inspection is always advisable!
Letting your accountant know you’re planning to buy a house is always a good idea, particularly if you plan to buy an investment property and build a property portfolio.
Owning an investment property will likely impact on your income and the tax you pay. Your accountant can give you information in this area and advise on the best way to navigate buying a house in order to minimise your tax obligations.
It is good to find an accountant that is knowledgeable when it comes to property and property investing.
Property investment advisor
I’ve included the property investment advisor last on the expert list but if you were going to engage one, then they are the absolute first person you want to see.
The services of a property investment advisor are used primarily when you’re looking to build a property investment portfolio.
Buying your own home and buying an investment property can be vastly different. Less emotion should be used when buying an investment property. More focus should be placed on the financial return an investment property can bring rather than the colour of the carpet.
Property investment advisors follow the market trends in each state and territory. They give advice on what areas hold a better investment opportunity compared to others. They’ll also factor in your personal financial situation and advise you on a strategy that not only helps you enter the investment property market but allows you to build a property portfolio over a period of time.
A good property investment advisor will be qualified and/or certified by an overseeing association such as The Property Investment Association of Australia Inc. or the Property Professional Professionals of Australia.
If you’re wanting to grow a property portfolio, then engaging the services of a property investment advisor is highly recommended.
Buying a new home is daunting enough without the added stress of trying to do it all yourself. Take the stress and hassle out of your house hunt by engaging the services of highly qualified professionals. In the end, you’ll be glad you did.
Once you’ve aced your house hunt, all that will be left to do is sit back and enjoy your new home.