Buying a property is hard enough as it is but buying a property in a hot market when everyone else wants to do the same is even harder.
So what can you do?
- Be prepared – Make sure you’re prepared to buy. Organise your finances, deposit, review contract early, get a building inspection done and don’t waste time shuffling papers.
- Be flexible – If prices rise fast in your ideal location, have some backup areas that also fit your budget and property type.
- Be clear – Get clear on what type of property you want, the slower you are to research, the higher the prices are potentially going to be
- Be proactive – Ask around agents for listings that are coming up soon to get the first look, don’t hesitate if something good comes up, take action; if you don’t, someone else will!
- Be smart – At the end of the day, understand that markets go up and down, so other opportunities may arise in the future. Keep your emotions in check to protect yourself against taking on too much debt and pushing yourself too hard.
Plus, we dive into some of our top suburbs to invest in Melbourne.