The housing market in Australia has been notoriously tough for quite some time already. According to Property Update, CoreLogic’s national Home Value Index rose to 0.6% in February, marking the strongest monthly gain since October last year. Additionally, stats indicate that housing prices continued to soar high in March 2024, matching February’s increase, taking the market to its 14th straight month of growth. PropTrack reported that national home prices lifted 0.34% to hit a new record in March, bringing prices up 1.57% so far this year to sit 6.79% above March 2023 levels.
If you’re keen on buying a house considering this competitive market, let’s dig a little deeper into how you can stand out as an appealing home buyer in a sea of eager home buyers eyeing the same prized property as you.
Five Powerful Tips to Be an Appealing Home Buyer
Show that you are prepared
Make sure that your finances are already sorted out. This reassures sellers that you won’t flake at the last minute because your funds are insufficient.
Get conditional approval from your lender
This demonstrates your commitment to the purchase and assures the sellers that you are financially prepared.
Be flexible with your move-in date
Try offering a shorter or longer settlement term based on the seller's needs. The seller might need more time if they haven't found their next home yet.
Have open communication
Talk and discuss with your seller which settlement date works best for them. This makes you stand out more, knowing they already have a buyer in you, plus extra time to secure their next home.
Negotiate other inclusions
There may be things or stuff that may seem daunting to move for the selling party and may be useful for you and your child, like an outdoor playpen. So, might as well throw in a little more money to purchase it with the house. This makes a win for the seller as it saves them the time and hassle of moving.
In a competitive market, working with a qualified mortgage broker can be a game-changer.
Leverage a Mortgage Broker. They have access to a wider range of lenders and loan products compared to going directly to banks. Moreover, a broker can manage a significant portion of the administrative tasks and legwork involved in the mortgage application process, ultimately saving you precious time and reducing stress.
Complete the inquiry form for any questions or to schedule an appointment.
Ready to buy your next dwelling place? Read more from our resources and hit us up to talk more about it.
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