Details You Need to Pay Attention to When Searching for a New Home

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Photo Source: Lendi

Searching for a new home can be an exciting experience! First you find the home you really like and usually followed up by a visit and inspection to the home and than the final step; starting the home loan approval process. Although not a crucial step in the process, it might be worthwhile exploring the Bureau of Statistics for property price changes giving you an indication of property pricing and changes for each suburb.

You can learn more about a home without setting foot on the property. Using online services that provide you with a free property report, you can discover important details that may help you determine whether a specific property is the right choice for you.

Estimate the Property Value

With a property report, you may receive an estimate of the property value. This estimate is based on recent sales in the area. Comparable properties are used to provide a more accurate estimate that may be useful in determining if the home is within your budget.

Sales and Rental History of the Property

Along with a price estimate, you may be able to learn more about the rental history and sales history of the property. While this information is not always available in the report, it can provide a better picture of the current value.

For example, if the home has sold for considerably less than the current value in the past several years, the current asking price may be too high. You may also find that the home has sold frequently, with new owners every few years. These details may indicate that there is an undisclosed issue with the property or the surrounding neighbourhood. NSW Government has a portal which maybe of use also.

The Current Condition of the Property

Your free property report may also include a few details about the current condition of the property. You may find out whether the property has been cited for any property (council) violations or experienced any significant damage. These details may not always be disclosed by the homebuyer, even when required by law.

Photographs of the Property

Property reports occasionally include pictures of the property. A variety of partner services provide these photos. For example, photos may be obtained when the property is listed for sale or being made available as a rental.

The Location and the Neighbourhood

By exploring the sale of comparable properties in the area, you may gain more insight into the neighbourhood or location of the property.

For example, if the recent sales are above the market average, the neighbourhood may be experiencing a renaissance. If the current sales are below the market average, the area may be experiencing an economic decline. Here is a compiled list of the 5 best places to buy for investment.

Obtain Your Free Property Report Today

How can you learn more about the details discussed? With a free property report you can discover valuable information about the property that you are thinking about buying.

Along with homebuyers, home sellers can use these property reports to determine how others view their property. You may find information that helps you adjust your sales price for a quicker sale or discover areas for improvement that may help increase the value of your property.

To get your property report, you need to know the address of the property and provide an email address. Get online and request your free report today.