Tips for making an emotion free real estate purchase

House Purchase Gumtree

So you found a house and it’s love at first site, right? But before you mentally move in all your worldly goods, take off those rose coloured glasses and stop a moment to ask yourself “is there anything I could be missing?” Here’s five potential scenarios worth mulling over before you sign on the contract’s dotted line.

  1. Consider future dated constructionConstruction

If you don’t do your house purchase homework properly, chances are you might not find out about the massive four-storey car park due to begin construction in six months time, or the proposed club that’s put in an application for an upstairs extension across the road, which will block that glorious view (that you are probably paying a premium for!). You need to be aware of what works are scheduled in your area so you can decide in advance if it will hinder your investment – or your happiness! Let NationMaster do the hard work for you, with nearby zoning for every address in Australia available at your fingertips.


  1. Renovations can costs more than you thinkCash

While you might have grand plans of knocking out a wall or three, or think the rising damp in the bedroom will just be a quick fix, it will always pay to have the place thoroughly examined first by a building and pest inspector. Otherwise you might find you are stuck with that poky rabbit warren layout you loathe instead of the spacious open plan living area you’ve already started planning in your mind!

  1. You might overlook your neighbours’ strange habitsHabits

Yes, we know it’s common courtesy not to snoop (or, at least to not be caught snooping) at the houses adjacent to where you are looking to buy. But in the interest of your own sanity, you might want to take a peep over the fence.  Do they have potential to be featured on an upcoming episode of hoarders? Are they known to let their pet snake roam freely throughout the over-gown plains of their backyard? All good things to know before you part with your hard earned cash!

  1. You need to investigate the surrounding areasResearch

Still on the subject of neighbours, it can also prove worthwhile to explore the entire street you are planning to live happily ever after in. Sure, it might be all quiet at Saturday morning’s 10.30am open house, but that’s just because the party down the street only wrapped up a few hours before. If living in the vicinity of a rave house is your idea of location, location, location, then by all means, pay your deposit on the spot! However if you think you’ll be soon on first name basis with the local police when phoning in your weekly noise complaint, it might be better to pass on this property no matter how much you love it’s Balinese inspired pool area. You can also investigate the population density of the neighbourhood by checking in with NationMaster and ensuring it fits in with your needs. You can also investigate local areas using a service such as Gumtree Real Esate Search to see what property prices are going for in a specific region.

  1. Is this location a crime hotspot?Crime

At the risk of sounding like an echo, it’s again in your best interests to do a thorough investigation of the area you might soon call home. Those grills on the home aren’t just an exercise in art deco styling, they could have been placed there on purpose because the original owners were quite fond of keeping the expensive items they worked hard for safe from thieving hands.

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