BUYER'S CHECKLIST
What to look for in a property?
When you're thinking of buying, your requirements will vary depending on your personal circumstances and on the sort of property you wish to buy.
You may be looking for a family home, a "sea change" property or a holiday home. Once you have found the property of your dreams, you may want to pause for a while and reflect before making an offer or signing on the dotted line.
Consider the following checklist:
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Before you decide on anything do you have your finance pre approved?
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Will you enjoy living in the neighbourhood?
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Is the house sound? If you have any doubts at all, hire building inspector to check.
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Is it in an area likely to hold resale value or benefit from capital growth?
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Are there any long-term costs or issues such as body corporate fees, jointly owned driveways?
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What type of Title is the property? Is it Fee Simple Title, Unit Title, Strata Title Cross Lease, or some other? Ask your solicitor to advise on the Title.
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Does the entire house, including alterations, have the required Council Consent or Code of Compliance?
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Is it built for the climate? Is it insulated? Will it be warm in winter, cool in summer?
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Have you asked your local council about planning issues like the possibility of any big developments planned or construction of new roads nearby?
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If big changes are needed to make the property comfortable, then it's a good idea to know the costs before you make an offer.
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Is the house and land suitable for your stage in life - are there too many stairs, is the garden too steep?
Then think about the detail:
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Does the house have enough bedrooms?
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Are you happy with the garden - or its potential?
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Will you have good access to the facilities you need such as schools, doctor, medical centres and shops?
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Are there enough bathrooms? Is there enough garage space? Is the garage accessible from inside the house?
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Will you have problems with traffic or noise?
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Is the kitchen serviceable?
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Is it safe for your family, e.g. children,the elderly or disabled?
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Is it suitable for pets?
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Are you happy with the building's security?
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Check under the house - is it dry?
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Is the block well drained?
Buying in a rural or coastal area?
You may also wish to consider other practical issues, such as:
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Is there a good water supply?
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Is there any risk of flooding or erosion?
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How much maintenance work will you need to do - or pay someone else to do?
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Are you likely to be bothered by nearby farming or orchard work?
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Are there any industries in the area that could affect you?
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Will you still have easy access to your family, friends, work and recreation?
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What will be the long term impact of corrosive sea air?
