How do I buy my first property?
Located in: Blog
When getting started in real estate and purchasing property, it is essential to have the right team behind you! First and foremost you need;
- Deposit saved
- A good financial institution
- A good mortgage broker to assist you with your finance structure
- A good settlement agent
- Solicitor (if necessary)
- Accountant – an accountant can make sure you have the right structure set up before you purchase a property.
If it is your principal place of residence, it is far straighter forward and you would generally only need the above mentioned points 1-4.
However if you wish to become an active investor, its best practice to make sure you are structured in the most beneficial way possible. These particular ways that you may not have thought of could be;
- A Property Trust
- A Unit Trust
- Joint Tenants or Tenants in Common
Setting up finance is the most crucial point but also making sure you’ve done your research to confirm you have indeed selected the correct property in order to fund your ideal, long term situation.
Buying your first property is very exciting! Just make sure you set everything from your finance to the property structure up that best suits your position.
Feel free to talk to one of our helpful property consultants that can look at your situation from the ground up. We have a full including Sales, Property Management, Strata Management, Commercial Sales and Commercial Leasing. Call now on 08 9225 7000.
September 19, 2018
Posted in: Blog