If your New Year’s resolution is to become a homeowner, you will need to develop a strict financial plan, says Re/Max’s Adrian Goslett.
You will also need to find a financial advisor to evaluate your financial situation and determine whether it is possible to achieve the goal within this year.
“Buyers need to analyse current income, as well as their investments and set up savings schemes that will ensure the procurement of the funds needed to obtain their goal within the timeframe.”
The next step is to find a bond originator to get pre-approval. “Reaching out to a local real estate professional will also prove helpful. Real estate professionals will give buyers an indication of the true market value of homes within their preferred suburbs.
“They also know the available stock on the market and can, therefore, advise on the likelihood of finding a home that meets the buyer’s search criteria before the year is out,” Goslett says.