Get pre-approval and secure your new home

Many of us have been there. You’ve found the perfect house – the one that you’re convinced has been set aside just for you. You’re walking through the open for inspection as if it’s yours already, imagining where your furniture might fit, dreaming of happy family celebrations, interior design projects, or raucous parties to come. Then you spot your ‘competition’ talking to the agent, and you overhear them discussing an offer. Freeze! Are you ready to make an offer, or will you be missing out?

This bad case of aspiring property owner heartache can be avoided – via preparation and understanding your budget. Prior to beginning your home-hunt, contact a mortgage broker and organize your finances. Find out exactly what you are able to spend and obtain a pre-approval – meaning that you will not need to make an offer ‘subject to finance’. 

Some offers which are ‘subject to finance’ are turned down by vendors – even if they are the highest offer on the table! Vendors love certainty and clarity – and you’ll be the most attractive purchaser if you’ve done the finance groundwork before. This preparation means you’re in the best possible position to negotiate – as presenting the best and most competitive offer to the property seller includes considering favourable terms (i.e. settlement periods that suit and unconditional offers). Another benefit of being organised?