10 Buying Secrets that might assist you to make the most of the real estate market when purchasing a property.

1. Make a “wish list” detailing the location, size and features you require in your home.

2. Create a household budget so you can accurately see what mortgage repayments you can afford.

3. Speak with your mortgage provider to work out what you can afford to borrow. Get them to provide a full list of charges for preparation and stamping of the mortgage including application fees, ongoing monthly fees, stamp duty etc.

4. Contact your agent to start looking for suitable properties, make sure you give them the “wish list” you created and the price you can afford.

5. Ask your agent to provide an additional cost breakdown covering things like Building inspection reports etc.

6. Locate a solicitor to handle your purchase and ask for a list of their charges and any other costs involved like Title searches and Lands Title Office fees etc that are included in the settlement of the property. Conveyancing costs for a $150,000.00 home are likely to start at $250.00 for the conveyancer, $110.00 for title searches, and $661.00 for LTO fees. Stamp Duty is $4830.00. So your starting cost would be almost $6000.00. Percentage of council and water rates will be added to this.

7. The cost to move an average 3 bed/study home is over $700.00 not including boxes and packing. If you wish the removalists to pack your home for you the price will start at about $1400.00. A professional house cleaner to clean through after you have moved will start at around $100.00.

8. Once you have signed a contract on a property you will need to arrange an insurance cover note to insure the property (the actual building) up to the settlement date, and once settlement has taken place you will need to insure both the building and contents (your personal belongings). Premiums vary greatly but be prepared to start at $600.00.

9. If you have pets consider placing them in a kennel the night prior to and the day of your move as they may become very stressed, also your pet may escape due to doors and gates being left open to allow access to the removalists.

10. In the period when you are house hunting, and after you buy but before moving, make a list of ALL incoming correspondence and then send a note to everyone who has written to you, giving them your new address and contact details.

Buyers should make their own investigations and not rely solely or partly on this advice.