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Quick Checklist If You Need to Purchase a Property

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As medical professionals, you need to find a home that will make you feel comfortable after a long day. But if it is your first time finding a property, it can be overwhelming. Following is a quick guide if you plan to buy your own home. Be guided and get your dream house! 

1. Know Your Strong Reasons for Buying

When choosing the right property, it should be anchored on your motivations. Remember, most houses are not cheap, so you need to ensure that your reasons are strong enough. Think of the long-term benefits and see if you are emotionally, physically and psychologically ready for the responsibility. 

2. Understand Your Financial Capacities

Most medical professionals are able to finance a good property in Australia, considering their income bracket. But there are still some who end up in huge debt. Avoid this by knowing what you can realistically afford. Set a price ceiling and look for the suitable options. 

3. Check Out Good Home Loan Options 

It’s good to always shop for home loan options, and there are several companies offering their packages for medical professionals. However, we encourage you to involve experts to determine which home loan is suitable for your requirements and capacity. 

4. Choose the Suitable Location

Your location should also be one of your priorities. As much as possible, it should be accessible to your workplace. Otherwise, you need to spend on huge transportation costs, which can consume a chunk of your monthly budget. This defies the purpose of owning a home instead of renting. 

5. Visit the Location and Inspect the Property 

Whilst it’s good that you research online, we encourage going to the property and taking a look at the neighbourhood. Check the nearby establishments and even the demographics. Just by going around the area, you can already sense if the area is suitable for you to live in. 

Likewise, go to the actual property, especially if you have narrowed the options already. Inspect it thoroughly and see its features and amenities. We also recommend having a professional inspector look at your potential home’s structural and potential safety issues. Remember, it can cost you a fortune to fix damages. 

6. Conduct a Title and Statutory Authority Search 

Look for the official record of the property’s ownership. This will enable you to check if there are issues that might prevent you from purchasing the property. 

When all these are done, you can now negotiate a price and remember to stay within your budget. This is also the perfect time to complete the necessary documents to get a home loan, speeding up the entire process and getting your loan moving forward without further delays. 

Finding the right Sydney Mortgage Broker will help you purchase your dream home faster. Your mortgage broker will provide expert advice and loan options that matches your financial needs.

 

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