Buying Property For Dummies

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John Wiley & Sons, Mar 23, 2011 - Business & Economics - 256 pages
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Created especially for the Australian customer!

Learn to:

  • Find the perfect property for you

  • Finance your dream

  • Choose from an established home, brand-new property or a 'fixer-upper'

  • Get your foot on the property ladder!

Open the book and find:

  • Strategies for getting your deposit together

  • Pros and cons of buying a period home

  • What's involved with becoming an owner–builder

  • Pitfalls to consider when buying 'off the plan'

  • How to secure a home loan if you're self-employed

  • Tactics to beat the auctioneersat their own game

Unearth your dream home and negotiate the mortgage maze

Do you search property websites, wondering whether a particular property could be your dream home? Do you feel like you're wasting money on rent but are confused by the world of real estate — and real estate agents? Relax! This practical guide covers all aspects of buying property, from buying a piece of history to building from scratch to signing on the dotted line.

  • Work out whether you're ready to buy — find out whether you're ready for the commitment of buying property, financially and psychologically

  • Focus in on the right property for you — determine your 'must haves' and 'like to haves', and whether you'll need to make a trade-off between these and your preferred location

  • Decide what kind of property you want — discover if your best option is to buy off the plan, find an established property or build yourself

  • Deal with property professionals — cut through real estate agent spin and understand how buyers' agents work

  • Find the right finance — choose the home loan that suits you and your finances

  • Negotiate a great deal — move smoothly through the buying and settlement process, whether buying at auction or through private treaty sale

  

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Contents

Introduction
1
The Great Australian Dream
7
Squeezing Your Foot onto
23
Calculating Your Monthly Outgoings
32
The Position or the Property
43
Dealing with Property Professionals
55
Finding Your Dream Home
67
Narrowing Down the Search
76
Taking the package
130
Building from Scratch
139
Borrowing For Buying
155
Going Going Gone Buying at Auction
183
Making an Offer Buying Through
195
Expressions of interest
206
The Part of Tens
223
First Home Buyer
225

Taking a Critical Look at a Property
84
Renovators Dream or Nightmare
103
Getting a quote
120
Ten Areas Almost to Check
233
Index
243
Copyright

Common terms and phrases

About the author (2011)

Karin Derkley is the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor magazine. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home.

Bibliographic information