Exploring the real estate market demands a proactive approach. Instead of relying solely on flashy ads or online snapshots, take the investigator's stance.
Dive into sales data, land appraisals, past listings, architectural blueprints, and the neighbourhood's vibe.
These pieces of evidence form a robust foundation when evaluating a property's true value.
When you're ready to stake your claim on a property, resist the urge to rush.
Crafting a solid offer involves safeguarding your interests with a legally binding contract.
Don't overlook this crucial step in securing your investment.
Firstly, make sure you get to thoroughly know sales evidence in the suburbs you wish to buy in, this is essential in order to determine the over-priced properties that will require extra negotiation to achieve a realistic price and also highlight any well-priced properties for your consideration.
It is a good idea to try and establish the price of the land the house is built on as a starting point for estimating the value of the property. Even though a home may appear to be much better value than another, it may in fact be overpriced because it is on a much cheaper block.
Also be on the look out for advertisements that say FIRST TIME OFFERED. Read the fine print, it may say…at this price. It could have been on the market for 6 months, or they have just put the price up or down.