Adelaide Real Estate

Working in the Adelaide real estate market I have dealt with many different types of buyers over the years. Some are eagerly excited about finding their first home, others are looking to upgrade due to an expanding family, and yet others are looking for purely investment reasons. Whatever their reason for looking to purchase Adelaide real estate, many are unprepared for the task ahead. Therefore I have gathered together a few tips that will help you to buy that perfect piece of Adelaide real estate that you require for your specific needs.

1. Ensure you visit your mortgage broker or local bank or lender before you start house hunting. It is important to work out your maximum budget, then make sure you stay below that budget. If you do not set this budget, you can easily get into the difficulty of looking at property above what you can afford and be tempted by a bigger, newer, or fancier home in a better location. It is important to be aware that it is not always a good idea to go to your maximum budget just because you are able to. Financial circumstance can change quickly, such as loss of employment, interest rate rises, unexpected medical expenses, an addition to the family, and if you are already at your lending limit, any of these such unexpected financial circumstances can place undue stress on your finances. So make sure you stick to your budget.

2. Make sure you study the Adelaide real estate market. You as a potential buyer should know your market thoroughly. Surprisingly there are some Adelaide real estate agents out there who do not know the market that they work in very well. If you study your market you will more than likely make the best purchase for your needs. Study internet advertising, newspaper advertising, go through open homes, talk to as many Adelaide real estate agents as you can. You will very quickly become familiar with price ranges, the length of time properties generally remain on the market, whether the market is rising, falling, or remaining stagnant. And once you get to know the answers to these questions, you will be in a better position to make a great investment decision.

3. Study the areas you are considering to purchase in. Narrow these areas down as much as possible, taking into account such things as location to work, kids’ schools, amenities, public transport, family and friends, hobbies. If you are thinking of compromising on location for a particular property, make sure you consider this carefully. Over time this compromise may not be worth it, and you may find you are selling again in order to change location.

4. When entering a property to view, make sure you look past the furnishings and personal effects. Many people do not properly prepare their homes for selling, I have seen many homes for sale which are cluttered, filled with floral wall paper and matching curtains, coloured every shade of the rainbow, filled with teddy bear collections, tea pot collections, kids toys, and family pets. If you can look past all these distractions to the actual basics of a property, you may just find yourself a great property deal.

5. If you find a good Adelaide real estate agent who you trust, then make sure you stick with them. An experienced and professional agent is well placed to spot a good purchase and see the potential of a particular property.

April 2009
Jason Keiller