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Exclusive Guide to Finding the Best House for Sale in Melbourne

So you have decided to buy your dream house in the most liveable city on earth—Melbourne?

Did you know that it is often referred to as the “world’s sporting capital”?

Besides having graffiti laneways, cultural diversities, a bayside location, and mouth-watering coffee, this is a good place to live for many reasons.

It has multiple public transportation options, plenty of job opportunities, low crime rates, an immense arts and culture scene, and, in short, an easy lifestyle. Buying your dream house is a big decision, and it must be backed with solid research to get the best deal.

To help you out, we have come up with an extensive guide to finding the best house for sale in Melbourne. Now buckle up and start reading this article to get a vivid image of the buying process.

Tips to Find the Best House for Sale in Melbourne

There are numerous things to consider while checking homes for sale. To ensure you make the buying process a streamlined one, check out the following things.

Fix your budget

You visit a house for sale in Melbourne. It’s alluring, stands tall, and even beats all your expectations. You excitedly enquire about the price and get disappointed to learn it is way beyond your budget.

This hurts badly. To avoid such unpleasant things, first, fix your budget. Once you have a budget fixed, you can filter the market and visit the houses with the confidence that you can buy one if it meets your necessities.

This is why, when it comes to buying a house for sale, having enough funds is critical. From the down payment to closing costs, you must adhere to strict financial commitments. But it’s not always about the money; it’s about the security and freedom that come with owning your dream house, where you can dwell with your loved ones. First, decide on the budget and finances, and set realistic goals.

What are the must-haves in your dream house?

Now take a pen and paper, sit down with your family, and list the must-haves of the house in Melbourne. This might be a big list, but you need patience to curate it. Because acknowledging your needs helps narrow down your search and find the ideal place to live.

Buying your house starts with one simple decision: finding the ideal location to call home. You have already decided that it’s Melbourne.

But did you know that Melbourne is a diverse city with many suburbs to choose from?

The next thing you must fixate on is the size of the house, including the number of bedrooms and bathrooms, the style, outdoor space, safety, storage, energy efficiency, and parking.

On top of that, while checking out the Melbourne house for sale, don’t forget to consider the proximity to work, schools, and other amenities.

When tailoring your list, ensure it meets your needs and preferences because you are investing big, and it must be worthy and close to your heart.

Thoroughly investigate home loans

Skipping mortgage pre-approval is one of the biggest mistakes you can make.

If you have decided to get a loan, first learn how much your bank will offer. Remember, what the bank says you can afford is different from what you know you can afford.

On the other hand, what you think you can afford to buy a house in Melbourne is different from what the bank is willing to lend you. Your chances of getting a loan can be affected if you have poor credit or an unstable income.

So, ensure that you are pre-approved for a loan before placing an offer on a home or even before you start house-hunting.

Note: Even if you are pre-approved for a mortgage, your loan can be denied at the last minute if you alter your credit score by financing a car purchase, etc. So be extra careful of the things you plan to buy or lend using your card.

Inspect a property before purchasing it.

Usually, the houses for sale in Melbourne will be presented for inspection by potential buyers at different time slots. Some houses are available for private inspection and can be visited with the real estate agent’s help.

You get 30 to 45 minutes for open home inspections. To make the most of the inspection during this time, make a checklist of what to check.

Use the checklist while inspecting properties.

Take pictures and notes of the property, including the exterior features and if any damage or issues are present. You can make a note of your likes and dislikes for that property.

Ask questions to the concerned person, i.e., the real estate agent there.

If it is a new house, you can ask about

The warranty or guarantee and what it covers

Are upgrades or customizations available?

What are the energy-efficiency features the house has?

If it is an old house, you can enquire.

When was the house last renovated?

Why is the vendor selling it?

What’s included in the property?

How long have they lived there?

What were the past maintenance or repairs done?

Are there any known issues with the house?

By asking questions relevant to your situation, you can better understand the advantages and potential challenges of buying a new house versus an old house and make an informed decision.

This process can seem daunting, and you may lack the experience to deal with it. Get professional help from real estate agents to handle it. Professionals can spot hidden problems and ensure that it’s worth investing in the house.

Don’t ignore the neighborhood.

While checking out the houses for sale in Melbourne, you will naturally be more focused on the house and may overlook the neighborhood.

We understand that it’s not possible to predict the future of your selected neighborhood. But asking about its past can help you avoid unpleasant surprises down the road.

If there is any undeveloped land around, enquire about what is likely to get built there.

Is the home value in the neighborhood rising or declining?

What are the zoning laws in the area?

Check the crime rate and safety. Visit the local houses and neighbors to clear up these doubts.

If you are happy with the answers to these questions, you can show a green signal.

Check the property titles.

Check if the property titles are correct because they are the birth certificate of your property. Homebuyers hire a title company to perform title searches on their behalf.

Here, a real estate attorney can also help find out if any legal issues are present and if the property has been legally transferred to you. In addition, ensure the property boundaries are clearly defined and that there are no boundary disputes.

Check with the local council.

Before you seal the deal, check with the local council to enjoy a worry-free home-buying experience.

The local council is in charge of managing, planning, and developing the area, so they know the ins and outs of it.

So, we can safely call the local council the guardian angel because they can give you insider information that your seller or real estate agent might hide from you.

With their expert knowledge, you can know if the house for sale in Melbourne abides by zoning laws and building codes and is in full compliance with regulations.

Or any future development in the area could affect your property value or quality of life.

Money may not be able to buy happiness, but it sure can buy you a roof over your head!

Make an offer and close the deal.

Making an offer to the households is of huge importance. Before you make an offer, determine your budget and strictly stick to it. Also, consider the additional expenses, including the inspection fees and closing costs.

Next, research recent sales of similar houses in the same neighborhood to determine if the asking price is fair. Your real estate agent can aid you in negotiating and sealing the best deal.

Before sending the proposal, consider contingencies. The contingencies in your offer can save you from unfortunate circumstances such as the inability to secure financing, etc. But ensure you don’t mention too much of it, as it can create a bad impression.

Lastly, write a personal letter. Well, this unique idea can make you stand out from other buyers and create an impression. Be genuine and authentic, and explain why you want to buy the property.

Remember, making an offer is just the beginning of the negotiation process. The stronger the offer, the more chances you have of securing your dream home.

Final Words

And to conclude, an important point to remember is: Don’t overthink signing the deal. We understand that buying your dream house is huge. But again, you must have done ample research before throwing an anchor on one.

There are cases where buyers lose the best deal because someone else takes the swift decision and buys it. And importantly, negotiation is important, but overdoing it can ruin the deal. When the house for sale in Melbourne ticks most of the boxes on your checklist, go for it.

Buying your house can be thrilling, but it can also be overwhelming if you put everything in your head. So, hire a real estate agent to hold your hand in the right direction.

RIC Realty is a full-service real estate agency where we are passionate about helping people realize their dreams and aspirations through property. Our team of experienced professionals can make your buying or selling process a breeze. From research and analysis, advisory, and transactions to project management and marketing, we can take care of all end-to-end work while you relax at home, Netflixing and chilling!

#real estate #real estate agency #property for sale

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