5 Questions to Ask your Real Estate Agent Before Buying a Home in Australia
Buying a home demands, a significant investment. So, the decision that precedes it should not be abrupt, but an evolved, well-thought, and educated one. In other words, you must know what you are buying. Accordingly, besides the home’s price and brokerage, asking these questions can enhance your knowledge about it and help in informed decision-making.
Questions to Ask a Property Agent Before Buying A Home in Australia
The Location of The Home
While buying a home, the property’s location matters. So, understand the location of the house well. Ask what kind of neighborhood you will have after purchasing the home, the kind of facilities such as schools, colleges, restaurants, entertainment centers, etc., and of course, its distance from your workplace. You wouldn’t want to spend hours during peak hours to reach your office in Downtown Melbourne or buy a home in a place that makes you feel isolated.
Questions About The Roof, Interiors, Compliance, Etc.
Enquire about the home’s condition, especially if it is a resale property. Pay a personal visit along with the real estate agent and ask questions onsite about the roof (quality and age), the interiors, inspection report (and if the problems have been fixed, or you will have to fix them), and whether it is compliant, and has the necessary certificates. Get a detailed report about the home’s health to enhance your investment returns and keep critical problems at bay.
Recent Property Report to Know the Home’s Worth
Often, people forget this. But it is as critical as others, as if you don’t, you might end up overpaying! So, insist on looking at the home’s recent property worth to know its actual value and negotiate better. Also, look at the latest property reports of other similar homes, preferably within the same vicinity, and their selling price to get an even better idea. For instance, if you want to buy a home in Greensborough, Melbourne, you must check the latest reports of similar homes in the area.
The Market Duration of The Home and Reasons for Selling
Ideally, a home shouldn’t be on the market for over six weeks. However, if it does, assume there’s some problem with it or incorrectly priced. The average time for a home to be on the market is around a month. But if it remains there for over a month, be careful while dealing with it and probe to know which factors are holding it back from being sold.
The Resale Value of the Property
Further, you must also know the home’s resale value, which depends on many factors. One of them is the location. Again, in connection to the first question, you must try to know the kind of developments the vicinity will undergo and their impact on the property’s price so that you don’t make a loss-making decision in the long run. Additionally, asking about the home’s renovation potential, structural quality, and area also matters.
We hope these questions help. But do not limit yourself to the above ones. Ask questions relevant to your context as well.