Buying a property for the first time can be exhilarating, and at the same time daunting and emotionally draining. From researching different suburbs to comparing your finance options to budgeting for all the upfront and ongoing costs (think stamp duty, mortgage insurance and mortgage repayments), there’s a million things you need to think about.
To cut through all the noise, and to help you navigate different elements of the home buying journey, we’ve partnered with our friends at finder.com.au to feature in a new online comic series (and let’s be honest, it’s pretty awesome!).
In the comic, we zoom in on the home inspection and auction process. Attending an auction for the first time can be a daunting thought for many. Not only do you need to compete with other cashed-up buyers, but you need to make sure that you don’t get caught up in a bidding war and end up paying more than you can afford and even worse, overbidding for more than the property is actually worth.
Going in with a bidding strategy and knowing your limit can be a good way to prevent things from going pear-shaped. You also need to do your groundwork and research similar property prices in the area to get a feel for the true value of the property.
The comic explained
The saga begins with a first home buyer trying to break into the property market. She comes up against a foreign investor who’s eager to add another property to his portfolio. Who will win?
Is this the end of the first home buyer’s property journey? Will she be able to recover from losing her dream home? Is there crushing news in store for the cashed-up investor?
All will be revealed in THE NEXT EPISODE! Subscribe here to receive it before the crowd.
Happy house hunting!