When purchasing a property or land, feelings of excitement and happiness spring to mind. However, this process can be tricky if we rely on just those two feelings. Purchasing property/land should be a strategically thought out move that allows for an effective return on investment. As such we have put together this list so it is top of mind for when you go house or land hunting! In this edition of The Arlington Blog, we provide the 4 common mistakes experienced by buyers
1. Getting emotion involved
A common mistake that occurs with buyers is a developed emotional connection with land, suburb and neighbouring areas.
When focusing on investing it is very important to think strategically. Going in with a plan around, budget, type of property and desired financial return, in the long run, are all fundamental. A chaotic approach to planning will only yield poor results.
Sometimes it’s love at first sight.
2. Not doing your research
The block may tick all the boxes, but failing to research the area is a big mistake that could lead to an amazing development, but in a terrible area.
It is important to get to know the area in which you’re seeking to buy.
Research nearby shopping complexes, schools, public transport and future developments. This is particularly important for ensuring the future of the property is trending upward. There are several people that can aid with this research, architects, real estate agents and property experts.
Save yourself a lot of money and do the research.
If you have any questions or would like to get in touch with the team at Arlington Homes please contact us on firstname.lastname@example.org or visit our contact page!
3. Failing to prepare
The smart buyer will make sure they have assessed finances and what they require in a property before getting involved.
When purchasing a property it is important to have all finances understood, this will ensure accurate planning for the costs associated and the accurate and timely completion of developments. A good start would be consulting your bank on the possibility of purchasing. You may even wish to consult with a mortgage broker to help assist with this process.
Are you prepared to get a home?
4. Underestimating costs
There is not just one cost when it comes to building a development.
It is often the case where buyers forget to take into account fees around soil test’s, town planning, council rates and land tax. These were just a few of an extensive list. Without the correct information and understanding building it can be a daunting process. The right builder should provide the convenience of transformation without the inconvenience. At Arlington Homes, we provide a detailed building brief that includes all costs prior to the build of a new home. This ensures that clarity and confidence are developed before the first turn of soil.
Our mission at Arlington Homes is to inspire, nurture and develop our customer’s wonderful journey that is building. We exist to create experiences where passion and purpose connect, only then can we display these efforts to our customers. Through this, we exhibit the highest level of integrity and business ethics to all stakeholders in our community as one of Melbourne’s Leading Custom Home Builders.
These have been the 4 common mistakes experienced by buyers. If you have any further questions or would like to get in touch with the team at Arlington Homes please contact us on email@example.com or visit our contact page!