At The Edge Property Agency, we never forget how exciting it is to buy a home. You’re making plans for the future, choosing a home in an area that appeals to you, and investing in one of the safest methods for acquiring wealth.

At the same time, the event can be a daunting experience if you don’t have sound knowledge and understanding of everything that’s involved.

There are a few things you should know before making an offer to purchase a property:

1. Do your research

How much have others paid for similar properties in the area. The best way to get this information is to ask your real estate agent for a sales report for properties in the area.

2. Confirm your finance

It is a good idea to make sure that you can afford the type of home that you would like to buy. Speak to your bank or a broker to find out what your borrowing capacity would be. They should be able to issue you with a 'pre-approval' to give you confidence to go out and look for your new home.

3. Understand all the costs

There are a few additional expenses on top of the purchase price. Don't forget to factor in Stamp Duty and Legal Fees. In some cases you may also be eligible for a government grant to subsidise some of these expenses - These grants change regularly so feel free to contact me to find out what grants are available to you at the moment.

4. What kind of market am I in?

There are 2 main terms to describe the condition of the real estate market at any one time: A buyer's market or a seller's market.

A buyer's market is a situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations.

A seller's market is just the opposite. The demand is larger than the supply. People have more money to spend on real estate, so sellers will often see several buyers competing to buy their property, which drives up the price. This means that buyers will have to spend more to get what they want.

5. Dont give up!

Buying a property can be a stressful process: from finding the home that is right for you, to working out how much you plan to offer.

Preparation is the key. Understand your rights and have everything in place. If you follow the advice in this page, along with that of your solicitor and your agent, you will be on your way to securing the right home for you.

Whether you are considering purchasing property in the near future, or are currently in the process of buying a home through another company and in need of advice, please feel free to call me with any questions that you may have.

I will be happy to assist you.