Things to know before buying your first property - trade-off

The hectic conditions of the current property market have many first-time investors feeling the pressure to secure a property before they’re priced out.

But buying a property is a decision that should never be rushed – and jumping in before you’re ready could be costly.

Do you want to avoid the common mistakes homebuyers make?

Well…here’s a list of some of the common things I hear from more experienced buyers about buying their first home or investment property.

To learn from their mistakes, these are some of those little (and big!) things they wish they’d known before taking the plunge…

There’s always some kind of trade-off

When you’re buying a property, there are three major factors involved:

· Your budget (usually determined by what the bank is willing to loan you)

· The property itself (age, size of the block, how many bedrooms and bathrooms, etc.)

· The location.

You can’t do much about your budget, other than minimising your debts and reducing your credit card limits.

And you can always renovate or extend the property later. But you’re stuck with the location – so don’t compromise.

RealRenta has all the tools that a property manager has, but less than ¼the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Friday, 19 November 2021

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