Buying a property can be intense. You can very easily and very quickly get bogged down in the logistics, information and process. There’s a lot to know, right? and the more you know the more you want to know, the more you need to know.
However, if we strip it way back, down to the bare bones. There are really only 4 simple steps to buying property and as long as you follow these steps, buying a property does not have to be overly complicated.
As long as you follow this process, you will be a property owner in no time.
1. Have your Finance Ready
See a broker, find out how much you can borrow, and get your pre-approval in place.
2. Know the Market
Research your area. Know where it sits in the property cycle. Find out what is selling, how quickly and for how much.
3. Identify an Opportunity
Step two to will lead you to step three. If you know the market, you will quickly be able to filter out the properties that are good buys and have potential.
4. Make an Offer
Ahh the simplest step that is often the hardest for most. Simply make an offer. Make lots of offers. Make ridiculous offers. Don’t be afraid to make a low offer. The worst that can happen is that they say no. Eventually someone is going to say yes, but only if you ask first.
Ultimately you want to be focusing on the overall result and reminding yourself of what you are trying to achieve in the long run.
Don’t get hung up on a property that may not be ‘perfect’. Chances are there will be no property out there that is perfect.
Stick to the process and get out there and do it!
Until next time…