How do I get the best value for money when I’m buying a property?

June 29, 2019
by Hannah Carney

The best place to start from is research. Look closely at comparable properties in and around the area/s that you’ve pinpointed for your property hunt. So that means looking at similar real estate options – e.g. two bedroom apartments with garages or three bedroom houses with swimming pools.

Think about where you feel the value lies in that property. What is your goal in buying and does this property help you achieve that? Is it a house for a growing family or an apartment for a downsizer? Also remember that what works for you in a property may not work for someone else. For example, you may find a home desirable because it has two separate living spaces and no other available properties can offer that. Someone else looking at that same home may find it less desirable because the living space isn’t all open plan.

Sometimes ‘value for money’ can be hard to define if you’re looking solely at external references or comparisons. If you’re buying an investment property on the other hand, external market factors may well override your personal ideas of value.

Your relationship with your Real Estate Agent is vital. They can help keep you on track towards your goals (provided they are realistic and achievable of course!). Your property agent’s role is to be a source of extensive knowledge about the area they work in. This means they can help you to fill in any gaps in your research and identify if this is the right property for you.

Have more questions about finding and creating value in a property? Email us at enquiries@schwarzre.com.au using #AskSchwarz. The top three questions asked before 15th July 2019 will be featured here on the Schwarz website.The best question will also receive a $100 Uber Eats voucher (terms and conditions apply). So, ask away! Find out more: https://www.schwarzre.com.au/ask-your-northern-beaches-property-experts-and-win/.

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