How To Buy Quality Property Under Market Value-converted

How To Buy Quality Property Under Market
Value?

To buy a property in Australia, especially in the suburbs close to the City and
Central Business Districts (CBD's) in Sydney, Melbourne and New South
Wales, becomes a costly affair. Be it new buyers, international students who
have recently started working in professional jobs, young couples who are
relatively new to Australia and backpackers, properties in Sydney, Melbourne
and other cities prove to be expensive. Even with long-term savings and
running salaries, there are limitations to buy high-quality property in
Australia.

Buying a Property in Australia: Don't Make These Novice
Buyers Mistakes

The first time buyers have heaps of doubts and concerns regarding buying
their first house and rely on discounts or getting a decent bargain from estate
agents or brokers. However, doing so leads to more bills and expenses.
The following section explains why first-time buyers should avoid to buy the
high-quality property or buy investment property via bargains and discounts:-

• Buying Property at a Discount

Properties in Sydney, NSW and other leading cities have prominent
signboards suggesting "Get your Own House with a Big Discount", but
it's always a good practice to avoid falling into these money-minting
gimmicks. Buying a property at a discount implies purchasing it at a
discount concerning its asking price.

Sometimes, property vendors go for a slashed price and attract buyers,
but these discounted prices are according to the overall market rates. In
such a scenario, the house-owners can still sell the house at a
reasonable rate and make profits.

• Buying Property with Bargains

First-time buyers who buy high-quality property with bargains means
offering a low-quality house and no future prospects. Down the line, the
property rate keeps declining, and the bargain comes to bite the new
owners since they can't sell their current house at a reasonable price in
the future.

Furthermore, when new buyers buy property in Australia with bargains, they
might have to pay more than estate agents' price guidance.

First time and inexperienced buyers should stay clear from these buying traps
and rather go for more practical ways for securing property/properties in
Sydney, Canberra and others.
How to Buy Quality Property Under Market Value : Some Useful Tips

In order to buy a quality property in Australia under the market value, certain
tips have been laid out by experienced buyers.

These include the following:-

• Getting to Know the Market

The rudimentary step to buy an investment property in Australia is to
know the market value of houses in preferred locations. Be it looking for
properties in Sydney, Melbourne or South-Australia suburbs, new
buyers should always research the market trends and practices.

Visiting open homes during tours and auctions are a great way to
understand the market rates.

• Knowing the Local Agent

Most of the properties on sale or for purchase have the local agent's
contact details on hoardings. Buyers should utilize it to their advantage
and set up a meeting with the local agents. Knowing the agents can
help new buyers buy high-quality property. Exchanging contact details
with the agent can help them understand the buyers' preferences and
ring them up if a particular property suits them.

• Look out for Distressed Builders

Often, when builders or developers cannot sell their properties within
their preferred time period, it can prove a burden. Hence, these builders
are desperate to sell their houses for cheaper rates. Be it to buy a high-
quality property or a house in good locations, it's always better to keep
an eye out for such builders.

• Go Through Divorced Estates

Those vendors going through a divorce may be in a hurry to sell their
property at the earliest and don't want to hold on to their houses for
long. Properties in Sydney and other popular locations can have such
houses. Therefore, going through these properties can help buyers get a
good deal and get their houses relatively lower.

Summing it Up!

Buying a house is a dream fantasy for many migrants and others who have
shifted to Australia. Be it to buy an investment property or high-quality

property, keeping the above tips in mind can help inexperienced buyers get
their first house at a lower price than the market rates.