6th September 2014
THREE EASY STEPS TO OWNING YOUR OWN HOME Buying your own home is one of the largest purchases you will ever make. What should you do to get ready? The key to a successful home purchase is using research and facts – not emotions – to make the right choice. The process may require patience, but here are three keys steps to helping you make the right decision: 1. DECIDE ON YOUR BUDGET Looking carefully at your finances will determine how much you can afford to spend on a home. Look at your income, assets and current debt level. Don’t be swayed by what a lender may offer you, it’s what your financial position says you can afford that matters. If your lender says you can repay $1,200 a month, but you know you are struggling with a rental of $1,000 a month, you probably know that you don’t need any more than you already have.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
Don’t forget to consider the 10% deposit required to secure your home at purchase, plus legal costs and stamp duty – usually about another 7% of the purchase price will cover these amounts depending on rates in your state. You don’t have to have a house in mind before you apply for a mortgage. It is a good idea to be pre-approved when you are looking for a home. It will give you the security of knowing that you have funding and the buyer will know you mean business. 2. RESEARCH Spend the time to find the home you want. Talk to your local PPG agent who can help guide you through the home search. Start by checking out neighborhoods and then narrow it down to a few streets. You should consider the schools, parks, public transport and lifestyle advantages. When choosing between homes, look at the size, number of bedrooms and baths, design and amenities. Decide what your “must haves” are and what the “nice to haves” are. For example, you might be willing to trade a large kitchen for a swimming pool. 3. NEGOTIATE THE RIGHT PRICE Once you have the funding in place and have found one (but hopefully more) potential properties, you will need to either make an offer (private sale) or bid at auction. Even if a property is listed for auction, the vendor may be receptive to offers before. You will need to discuss with the agent representing the seller. Whichever method you must use, don’t get caught up in having to get the home and lose sight of how much you can afford. You don’t want to pay more for the home than it is worth. Recent sales in the area will give you a fairly accurate guide to the home’s value. If you are bidding at auction, make sure you have attended a few before you bid yourself. This will help you understand the process and develop confidence. You can also choose to have a friend or professional buyer’s agent bid on your behalf. Terms of settlement are usually outlined in the contract. It is recommended that an independent legal representative look over the contract before making an offer privately or at auction. Once the contract is signed, it’s a matter of waiting until settlement date when the bank, your legal representative and the real estate agent finalise the transaction and your dream home is yours! Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
Jas H Stephens Pty Ltd (Jas Stephens) is bound by and adheres to the Australian Privacy Principals (“Principals”) contained in the Privacy Act 1988. Those Principals regulate most of our activities with respect to personal information collected, stored, used and disclosed by is. Our full privacy policy can be found at www.jasstephens.com.au. The purpose for which we may collect, hold, use and disclose your personal information are:-for security reasons- to keep a record of who has attended open inspections; to contact you in respect of the property and other properties we believe may be of interest to you; to provide you with a contract of sale and other documents you may request; to update you generally through the course of the campaign. We may also use your personal information to market other properties which we think may be of interest to you and to send you marketing material from our agency. You can always “opt out” if you do not wish to receive marketing material. By providing your personal information you consent to us using your personal information as described above. If you choose not to give us your information, we may not be able to provide an effective service to you. Your personal information is stored in a combination of computer facilities and paper based files and other records, which are located on site at our office and off site at secured premises. If you would like to discuss how we manage your personal information or complain if you think we have breached the Principals or to update/correct the information we are holding please call 9316-9000 or email privacyofficer@jasstephens.com.au We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
MEET THE TEAM
Does your career need a new direction?
ALEX TEEUWSEN Personal Assistant to: Terry Fitzpatrick, Anna Grech & George Alexander
Make the most of opportunities. Positive and motivated sales people needed. Part time or Full time.
NATHAN GLEESON Sales Consultant
REECE GOSSTRAY Projects Sales Manager Banbury Village Sales Manager
HELEN CORALLO Personal Assistant for Branko Lemaic & Tate Moore
Mobile 0409 556 584
Mobile 0418 378 276
Mobile 0438 591 785
Email ateeuwsen@jasstephens.com.au
Email ngleeson@jasstephens.com.au
Email rgosstray@jasstephens.com.au
Email hcorallo@jasstephens.com.au
NICOLE GRECH Marketing Manager
LACHLAN MCCRAW New Business Development Manager – Rental Department
DARIA BECK Rental Department Manager
NICOLE SMITH Leasing Consultant Rental Department
SUE STEVENS Property & Finance Consultant
MAX WALLER Director Provincial Home Loans
Mobile 0423 590 508
Mobile 0400 335 498
Direct Line 9316 9007
Direct Line 9316 9039
Mobile 0432 705 815
Mobile 0438 430 436
Email ngrech@jasstephens.com.au
Email lmccraw@jasstephens.com.au
Email dbeck@jasstephens.com.au
Email nsmith@jasstephens.com.au
Email Email suestevens@provincialhomeloans.com.au maxwaller@provincialhomeloans.com.au
Mobile 0487 648 159
Join our successful sales team. Call Nicole Grech on 9316 9012 to discuss your options.