Over more than ten years in the real estate business, we have gained first-hand experience and knowledge through interaction with our valuable buyer and seller clients.
We are delighted to bring this series to you, where we provide YOU with answers to the questions we most frequently get asked.
We start with a buyer question –
Should I talk to a bank before I start looking at homes?
The answer to the question is YES! And there are many reasons for that.
First and foremost, talking with your bank or mortgage consultant, like Bond Gallery, Peyper Bonds, or Betterbond, will help you understand exactly how much you can afford. It may be less than you thought, but oftentimes it could be more. It puts you in a strong bargaining position right from the start.
Talking with a bank before looking at homes will introduce you to the many first-time home-buyer programs and subsidies available if you are a first-time home buyer. Knowing precisely what’s available to you is critical and can help you overcome some early hurdles easily.
Another important reason to talk with your bank or financial advisor before looking at homes is so that you can understand exactly what costs are associated with buying a home. This way, you will avoid any unpleasant surprises. For example, a buyer must know the upfront cash requirements, such as your deposit and transfer fees and the total monthly recurring commitment. This includes your monthly bond repayments, insurance, utility costs, etc.
Do make sure that you partner with professionals with the relevant know-how to guide you throughout the home-buying process. The advisory services mentioned here are all FREE of charge to you.
We are there to guide you and ensure that you receive the best advice and service possible.