It’s an exciting time in anyone’s life, thinking about buying your very first home. It can also be a time of stress and confusion, as you feel like you want to make all the right decisions. After all, purchasing a home is a huge commitment.
For first home buyers, you’ll want to be extra diligent, so in this article, we’re going to be offering up some tips for first home buyers, and one of the best moves you can make as a first home buyer is to enlist the help of a buyer’s agent.
Agents for Home Buyers
Should I use a buyer’s agent?
The answer is, yes. A buyer’s agent is the best real estate agent for a first time home buyer. But what is a buyer’s agent exactly and how will they benefit a first home buyer?
A buyer’s agent is a real estate agent, but not all Australian real estate agents are the same. Generally speaking, an agent will work on behalf of both buyers and sellers, but many agents tend to focus more on selling properties for their clients rather than focusing on helping buyers find the best (and right) deal. In other words, there can be a bias that’s in favour of the seller rather than the home buyer.
However, a dedicated buyer’s agent works on behalf of the best interests of the buyer and not the seller. This is a huge advantage for first home buyers, who may be confused about their options and inexperienced in negotiating real estate deals. A buyer’s agent will search for properties on behalf of the buyer, evaluate those properties and negotiate a deal on the buyer’s behalf. Buyer’s agents assist buyers in both the residential and commercial sectors and are generally the agents of choice for property investors.
Advantages of Using a Buyer’s Agent
We’ve already mentioned a few of the benefits of enlisting the help of a buyer’s agent for first home buyers, but let’s look at a few more key advantages a buyer’s agent has to offer.
One distinct advantage of having a buyer’s agent on your side is they can advise you on the latest when it comes to first home buyer loans and whether there are currently any government grants on offer. As a first home buyer, you may be eligible for government assistance.
Also, when it comes to home loans for first home buyers, there are other things to be mindful of and your buyer’s agent will be aware of everything you need to consider. The agent will be able to help you work out how much you can afford to borrow, advise you on how much you’ll likely need for a deposit and so on. They may even be able to recommend certain lenders to you that are known to favour first home buyers.
As a first time home buyer, you’ll want every advantage you can get and need access to all the advice you require to make the right choices. A buyer’s agent will be your best friend in this way.
Other Tips for First Home Buyers
Be prepared to take the time to do your research on areas where you may want to live. Find out what the current market value is for properties in the area so you have an idea of what’s a fair price for a particular type of house.
Along with current market prices, you’ll also want to investigate the neighbourhood where you think you might like to live to see what’s on offer there. Is there a supermarket handy? How about schools or a local park? Is there any future development in the pipeline?
What’s also important to investigate are the various first home buyer loan options on today’s market. The more research you do in this area, the better you’ll understand everything there is to know about home loans and what to look out for.
For first home buyers, teaming up with a buyer’s agent will prove to be a mutually beneficial relationship that will take the stress out of purchasing your very first home. Rather than going it alone or working with a seller’s agent, a buyer’s agent will make the entire process far easier and stress-free.