First home buying tips for Ben
Our colleague Ben is looking to buy his first home in Wellington this month. As a team we are in various stages of home ownership, so we thought share some of our collective wisdom for Ben, to get him off to a good start on the property ladder!
Read below some first home buying tips!
- Look beyond the pink curtains, floral wallpaper, and beige carpet. Don’t let the “cosmetic aesthetic” of a property put you off a good investment opportunity
- Unless you are planning on staying forever in your house, don’t go too crazy with the renovation colour palette just yet. It is easier to sell/rent a house that is neutral and easy on the eye.
- Don’t shackle yourself to a mortgage that’s more than you can handle – yes, home ownership is awesome, but make sure you have enough surplus after mortgage repayments to still enjoy your twenties!
- Get a relationship property agreement if you are buying with someone else ..
- See above - Do it now….
- Don’t lie in your mortgage application.
- Take good advice from professionals, as well as Mum and Dad/friends. Etc.
- Always paint with an undercoat, don’t short cut. You’ll kick yourself later.
- Put in an offer earlier than the deadline or tender date if the listing says “unless sold prior”.
- Read the builders report, and don’t lie to yourself about the implications of said report. You don’t need the house that bad.
- Can’t go past the classic - Buy the worst house on the best street.
- Some easy renovations make a huge difference to the feel of the house (floors, paint etc).
- Buy a house with a good bathroom and kitchen, they’re expensive to do up yourself.
- Get Preapproval asap. Then you know exactly the price range of properties you can purchase at. You will then be ready to hit the ground running.
- Measure twice, cut once!!
- Once you've bought your house, stop reading the property news.
The VF Team :)
Disclaimer: This post is intended as general advice. Before you make any decisions, discuss your situation with an adviser from Velocity Financial, and seek advice from professionals, such as a lawyer and accountant, to find the best solution for your unique situation.
Read our disclosures on our website:
https://www.velocityfinancial.co.nz/disclosure-statement