22 November 2016 House hunting tips Useful house hunting tips for first home buyers with real estate expert Nikki McCarthy. Transcript: So we all know how hard it is to find our first home and within the budget. We've got Tom and Loz inside so let's see if we can help them with their research. Hi how are you. I'm Nikki. Nice to meet you. So we've been together for the better part of a decade. Recently married and decided to get serious. It's really hard for first-home buyers to find their first home. They've got to save the deposit. They've got to stick to their budget. They've got to find something that fits the budget. It's not easy. So can you tell anything about property just by looking on the website? You can. I think it's really important to really look at the floor plan. Always check the land size. The other thing is all the new properties are at the top. Now they're the ones that are the most competitive, that there will be most people looking at. If you scroll down the pages to page four and five you'll see properties that have been to auction and they might have failed. So they'll be up for private sale and they might just have a buy price. So when we're making our short list, what kinds of things can we afford to cull and what things should we include? So there are some things you might have to compromise on, like location. Potentially it could be a car space. Properties that don't have a north-facing rear for example and then you might get back into your budget. So on settlement terms are there any rules about that what's most ideal. As the buyer you have a little bit of power so you can come to the agent and say "look - we really like this house and we want to move in in 30 days. Would that suit the vendor?" They are up for negotiation more often than not. Are there any terms or anything that we need to be aware of ? The 'subject to council approvals' one that comes up all the time. If you're just looking at renovating an existing home you've pretty much likely to get it through council. If you're looking to knock something down and rebuild you need to go to council before you purchase. You should always try and find out what it sold for, because that'll give you an idea of what it might be worth. It's important for people to get into the property market. It's nice to start early so this is a young couple Tom and Loz are young. They've done all the research, they've got their finance organised. Now they can make their money work for them and have somewhere to live.