If you’re a first home buyer, buying property is a huge investment to make. After all, buying property is one of the biggest financial undertakings that most Australians will make in their lifetimes.
Of course, you’ll want to ensure you get the best deal possible for your hard earned cash – and with auctions an increasingly popular way of selling real estate, you could find yourself face to face with other buyers trying to do the same thing.
If the idea of competitively bidding for your dream home sends chills down your spine, don’t worry. The key to a successful auction is to arm yourself with knowledge and advice before beginning the process.
There are several things you should take care of before heading into the real estate arena.
For example, setting a budget is one of the most important aspects of approaching an auction. Understanding exactly how much money you have available (by having your home loan pre approved) means you can pursue your goals without worry.
Ensuring you stick with your budget is also important – you don’t want to find yourself under a larger debt than you’re capable of paying off.
Understanding the local market is also paramount to success. For example, if you’re looking into Carnegie real estate, finding out the clearance rates, median sale price, and other statistics will help you to plan your auction strategy.
Getting in contact with Matthew Hurlston at Ray White Carnegie can help you with this. Specialising in auctions, he will be able to provide you with advice in order to ensure you achieve your property dreams!
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