We have high call volumes due to COVID-19, but we are here to help. For info, or to apply for COVID-19 home loan support see rams.com.au/covid-19-assist. We will contact you as soon as possible.
  • First Home Buyers: Doing your property homework


    Tips on what research you should do before purchasing a property 


    Deposit saved. Tick (thanks for your help flat mates)

    Finances sorted. Tick

    Loan pre-approval. Tick

    Mike’s smashing this whole first home buyer thing so far, but before he pops that bottle of Champagne, there are some last-minute hurdles he’ll need to clear before that property dream becomes reality. Mike’s got a can-do attitude, but before he gets in too deep he’s going to make sure he has done his homework on the property he wants to buy… 

    We’re talking: 

    • Getting a building & pest inspection – so faulty wiring or termites don’t ruin your dreams.
    • If you’re after an apartment, checking the health of the owner’s corporation. If a place seems too good to be true it just might be… the sinking fund for the apartment block might give you a sinking feeling, or the owner’s corporation may have huge works they are planning to take on which could mean additional costs for you if you become an owner in the building… Don’t get stung.
    • Reading the fine print in the contract of sale for your property purchase, or better still get a solicitor or conveyancer to help you with this – you might be surprised at what’s on page 151! Remember: contracts are negotiable, and you can request changes to some of the terms (like settlement periods). 
    • Researching the suburb and potential developments - you don’t want a highway going in over your back fence. Give the local council a call for the lowdown on anything that’s in the planning stages. 

    Once you’re satisfied that you’ve got a winner, either put in an offer, or put your hand up at the auction. SOLD.  

    Originally published on flatmates.com.au

    Select a topic to view more blogs and videos:


    About the author

    • Raymond

      Raymond A Ram is the RAMbassador for RAMS Financial Group. Raymond works with the RAMS team to bring simple, helpful and expert information on home loans and savings accounts to life with his down to earth and cheeky personality. He enjoys seeing everyday Australians turn their dreams of saving for a goal or getting into a home a reality. 

      Growing up in Goulburn, NSW, Raymond was brought up with good old-fashioned Aussie values of hard work and a fair go. It soon became apparent that Raymond wasn't content for the conventional path of grazing, producing the very best wool, and finding a nice sheep to settle down with. So it wasn't long before his passion for performing and his talent as a likeable larrikin shone through - landing him a few roles such as 'RAMlet'. He was even tipped to play RAM-bo at one point but chose to become star of the small screen instead as RAMbassador for RAMS. He now finds this role so much more rewarding.

      Contact your local RAMS Home Loan Centre about your home loan options.

      Raymond A Ram

  • Like to know more?

    Find your local RAMS Home Loan Centre

  • Disclaimer:

    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.

    The views and opinions expressed in this article are those of the author alone and do not necessarily represent the views or opinions of RAMS Financial Group Pty Ltd ABN 30 105 207 538 (RAMS),  Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or their related bodies corporate. This article is strictly for information purposes only and neither RAMS, Westpac nor any of their related bodies corporate make any representation as to the accuracy or completeness of the information in this article or endorse the views expressed in it.