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Archive for the ‘New Home Tips’ Category

Home Ownership

Posted by Tamara McDowell on February 6, 2010

From the moment you turn the key in the lock and take those first few steps through your new front door, the security of owning your own home is second to none.

But the path to home ownership can be stressful and if not fully prepared it can prove to be time of great confusion, indecision and hard work – especially when it comes to finance. 

I wish you every success in your hunt for the perfect property.

Save time, stress and shoe leather!

Take the leg work out of financing your property through engaging a mortgage broker…………

If you’re buying your first home or investment property – or looking to move to a bigger and better one – speaking to a mortgage broker is a good first step.

A broker will sit down with you, usually in your own home or another location easy for you, and show you the range of loans
available from different lenders. They will then help you narrow them down to a loan that best suits your needs.

A mortgage broker will take the time to understand your needs, discuss your financial circumstances, and identify your loan requirements.

As a first step, they’ll discuss your property goals, factoring in your loan requirements in light of your lifestyle, job, family and
other aspects. They’ll also discuss the type of documents needed to assist you to make a loan application – such as pay slips, tax
returns, and personal bank statements.

Once they have a clear understanding of your financial situation and goals, your broker will be able to advise you on your
home loan options.

Tamara McDowell ~ Mobile Mortgage Broker ~ Licensed Finance Broker #5277

Posted in First Home Owners, Loans, Mortgage Broker Service, New Home Tips | Tagged: , | 1 Comment »

QUICK TIPS BEFORE YOU BUY

Posted by Tamara McDowell on February 5, 2010

When you buy a property you are agreeing to purchase it in the condition you find it at the time of your offer.  Unless it is brand new, then it is likely to have some wear and tear.  As a buyer, you must be aware of any faults at the start of this process because they are your responsibility after the purchase.

 However, if you require certain things to be mended by the owner before settlement, this can be written into the contract when your offer is made.  It is important therefore that homebuyers do a thorough check of the property before putting down an offer.

 The REIWA Offer and Acceptance Form  has a section for buyers to write in any special conditions to ensure the best outcome for them.  This might include things such as all the plumbing and wiring being in safe working order.  If a door, shower screen or window is broken, these are also things you can insist be fixed by the owner before you settle.

 Here are some of the more common things to inspect:

  • Learn how the hot water system works and whether it may need repair.  If it is a solar system ask about the booster switch and where it is located.
  • Check that the reticulation system operates, how it works and ask to see where the valves are located.
  • If there is air conditioning, check that it works properly and that its service record is up to date, where that might be required.
  • If there is a pool, check for any damage and become familiar with the pool cleaning equipment and filter.  Ensure that the property has the required legal pool fencing, given that the rules have changed for this recently.
  • Check that the plumbing and light switches work by operating all the taps and switches.
  • With power points, take a small desk lamp or hair dryer with you from room to room to ensure all the plugs are working.
  • Inspect all the water drainage outlets coming from the roof, ensure the guttering is sound and find out where the soak wells are located.
  • If the property is still on septic tanks and sewerage, check to location of the tanks.
  • Ask about the location of the sewerage outlet pipes and where the main connection is located.

 You can require that the owner fixes any faults prior to settlement as a condition of your offer.  If any items are not working or fixed at settlement and the owner had agreed to this in writing to this, then money can be allocated from the seller’s settlement proceeds to you for any necessary repairs.

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