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  • Open house tips for buyers

     


    Buyer's Advocate and star of The Block, Frank Valentic shares his top tips for first home buyers when inspecting property.

    Transcript:

    Most people buy one or two properties during their lifetime, but if you're a first-time buyer it's a totally new experience for you.

    Today, I'm going to give you some great tips to help you secure your first home.  

    So one of the things I do is always check the electricity box and check the wiring.  This one has a safety switch, so that's thumbs up.

    Always check under the sinks and see that the pipes have been replaced and replumbed and they're in good order, which these are. 

    Check the water pressure. This looks pretty good.

    So give the floors the jump test and see if anything moves.

    If you're wanting to open up the kitchen to the living area, check the walls.  See if they're solid and if they're not it's an easy fix.

    So Carl, it's a tough market at the moment.  Any advice you can give first home buyers to get into the market?

    I think persistence pays.  If you see something that you really like, have a go aggressively.  Have a strategy in place.  I think it's important not to over stretch yourself if you can't afford it, set a target that you willing to go to and walk away if it goes beyond your means.

    Be diligent about what you're looking for.  Don't just buy something because it creates the emotional appeal.  Buy something that you think is going to have the opportunity for good capital growth.  So you know, buy in quiet tree-lined streets, small blocks, you know, good apartments with good floor plans.  From there, look at readjusting the scope of where you're looking.  Perhaps move a little bit further out to secure the right type of property.

    My message to first-time buyers is to be persistent.  Keep trying and don't give up, because before you know it you'll have your keys to your first property.

     

    About the author

    • Frank Valentic

      You have seen Frank bidding at auction on the hit television show, The Block over the last five seasons and have witnessed his competitive instincts and energetic nature first-hand, joining The Block as a regular weekly Buyer’s Advocate judge in 2015.

      Away from the television cameras, Frank is the Director of Advantage Property Consulting and is considered to be one of Australia’s leading Buyer's Agents and Vendor's Advocates. Frank has now teamed up with The Great Australian Dream as the series Buyer’s Advocate to show viewers the many tricks and tactics to purchasing the right property at the right price.

      Frank Valentic
     

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  • 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.