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Prepare yourself for Pride of ownership :

If you are eager to get into the market to buy a new property, then here are some tips to help you decide to make the largest and the most expensive purchase
• Savings is the first and the most important point you check before you start
• Affordability check to see if you have enough capital to deal with the initial cost of buying a property like down payment, stamp duty, mortgage insurance, conveyancer fee, pest control, inspection and other petty expenses
• Check with the Banks on the maximum amount of loan that you can get
• Negotiate with different banks on the best rate they can offer you over the prime rate
• Check on the benefits and government grant, if you are a first time buyer
• Check with your accountant or professional, the tax benefits on buying a property and see if you can claim some expenses associated with the purchase of property
• Aim on the property that falls within your limit and affordability
• Check the basic amenities near the property that suites your need, adding to the value of the property at the same time
• Work out your monthly expenses incurred on the property that you are planning to buy
If you are happy with your checklist, then go for it. Remember… some wise people say…..
Buying a property is a great way to make investment and build wealth

By Rimmi Singh
Waratah Estate Agents
Wednesday 4 September 2013