Check out this article by Rich Harvey on Domain.com.au, discussing mistakes that home buyers make. I don’t agree that it’s necessary to physically inspect 50 to 100 properties before buying, but certainly you should check out lots of properties online, and particularly note the prices they sell for and the discount on their original price advertised. Many properties are advertised way above their market value.
Seven classic mistakes most homebuyers make
by Rich Harvey
Buying a home is an expensive and time-consuming process so it’s worthwhile considering how to avoid common mistakes that could cost you dearly. As a buyers’ agent, I’ve seen many buyers rush in and make offers without considering their long-term needs or the current market values. The most classic mistakes that we regularly see include:
1. Lack of research
Many buyers are under time pressures due to work or family commitments, so they buy in a hurry without doing enough research. To buy well you should be inspecting at least 50 to 100 properties in your target areas, taking notes and monitoring auction and sales prices. You need to create a “property brief” and set your priorities in terms of suburbs, type of property, features and price range. This helps you shortlist only the most suitable properties and avoid wasting time at inspections.
To read the entire article, go here: http://news.domain.com.au/domain/real-estate-news/seven-classic-mistakes-most-homebuyers-make-20130424-2ie2r.html