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#11
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As Kato has said, Make sure you put in the contract that the building inspection is to your satisfaction. The agent may try and tell you that its all part of the "standard" paper work, but insist that you will only make an offer if your own "clause" is included... |
#12
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De facto Relationships Need to be in a marriage type relationship for 2 years, not 6 months. Rent receipts could also be used by the court to prove financial input by the partner. There are far better and easier ways to protect investments if you are worried about a defacto partner 'taking half'. Anyway, back to how to buy a first house. Not losing your first house
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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR] |
#13
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The professional building reports aren't worth the paper they are written on. My building report had so many disclaimers saying that it can't be relied upon. You don't get to read that until after you have paid for it. Mine also said...wiring appears modern. $5 k later for a full rewire...I can tell you it was original 50 year old crap.
Factor in mortgage duty, transfer of land duty less any first home buyers grants. If you don't have 20% deposit then you will also have to factor in mortgage protection insurance. This can be expensive. And as others have also said....once you move in you will want to upgrade bits and freshen it up. Just like a wrx..... |
#14
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Get the building report done by someone you do not know.
With your mates if possible, talk to that person at the time as there may be things that can be said but not written. Watch out for the seller trying to suck up to the inspector. On prices, some agents try too hard to get a high price so do your checking in the area. If you make a very low bid, a genuine agent and seller can think you are a tyre kicker not a buyer. dont let this idea put you off tho', you show you are serious by having finance approval and ability to make a proper deposit. Ask lots of questions, the agent represents the seller but cannot lie to you. Make your offer only after the inspection. and if you drive a wrx, even if not lowered, check the driveway slope. |
#15
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Having mates "in the know", ie tradies in related areas, are good for cross referencing the findings of inspections performed by the 3rd parties. To use kremers previous example...if the report states "wiring appears modern." (quite a vague statement for a supposedly comprehensive report imo), yet your mate who is a qualified sparky has examined the property himself is adamant it's the original 50yr old wiring, you would have good reason to be questioning/doubting/challenging the reports validity/other findings, and as to whether or not you should find another inspection company.
Another added bonus of having good mates in trades is they can tell you right away that yes, the wiring is 50yrs old, but they would be able to sort it out for you at $x cost, and you can then account for that extra cost when making your offer. Saving money wherever possible definitely helps take some of that financial pressure & resulting stress off, however, taking the cheapest option every time isn't necessarily the best way..shop around & compare - the more info you can gather & cross reference the easier it will be choosing the best option for you.
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God gave us feet...so we could work the pedals properly That wasn't a U-turn! It was two consecutive right hand turns. |
#16
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Ok guys just to clarify, i myself am a qualified sparky haha.
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The one perkent... |
#17
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I'd be checking the title for any easements, encumbrances, memorials, notifications, restrictive covenants, etc before you make the offer.
Depending on where in the hills this place is, you could be affected by aircraft noise (maybe not now but under the airport's Master Plan it could cop it).
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MY09 Evo X - 1.6bar@3500rpm - got lag? Barbagallo - 56.03 (S); 1:08.09 (L) Collie - 50.77 Possibly the most under-driven Evo X in the world?? |
#18
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I know I am not adding much here but my wife and I have just started diving into this and I would say make sure you capitalise on the grants that are out there at the moment. There are a few in Auss and WA that would put some money back in your pocket.
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#19
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Ok quick question does anyone know if the First home owners grant can be used as part of your deposit. Been doing alot of research about the current houseing situation in Perth and it looks as though prices are going to start increaseing again. So id like to get into a house now rather than later.
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The one perkent... |
#20
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Yep it can Tony, most people use it to boost their deposit. I am doing exactly that at the moment.
Try to get around 10% for a deposit (including FHOG), most big banks are cutting back on the number of 95% loans that they accept according to my broker. If Sam see's this he'll be in a better position to comment. Sent from my GT-I9100 using Tapatalk 2
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Ryan |
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buying, house |
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