Get organised when preparing to enter the property market

I often see people getting out and about attending open homes and speak to many who tell me they are spending several hours each week searching on real estate websites when they haven’t done the basic preparation. If you’re one of them then here are a couple of tips to point you in the right direction:

Securing finance pre-approval – Before you start browsing through the ‘for sale’ listings take the time to get your finances in order and have your loan pre-approved. By getting this in place early you will know exactly what your budget is and you won’t waste time searching for properties above your price limit. In addition, you won’t risk missing out on the property you like while waiting for your loan to be signed off.

Preparing a needs and wants list – Write out what things you actually ‘need’ and under a separate heading create a 'wants' list. That way you have a check list to refer to. For homebuyers, this approach can prevent you from becoming emotionally attached to a property that looks great but isn’t really practical and will keep you focused on ensuring you purchase a property that has all the features and benefits you need rather than more of your wants. For investors, your needs list should be based on facts and figures and a good return on investment rather than emotion.

For a detailed approach to this process order a copy of my book "The Insider's Guide to Buying Real Estate".