How Do You Take The Pain Out of Purchasing a Property?
Purchasing a property as an investment or as a home can be a painful process. First you need the skills required to find a property that matches your criteria and then there is the risk of overpaying or missing out on the property if you don’t act fast enough.
A home buyer may face different challenges than a property investor, but regardless of your circumstance a buyer’s agent can help ease the blow of searching for a property and ultimately purchasing it.
Professional Buyer’s Agent Miriam Sandkuhler shares exactly how she helps her clients with their unique purchasing needs in this highly competitive market.
Getting into a home can be stressful. You want something that will meet your criteria and budget in a timely manner. Most home owners want to find their “dream” home and get into it. Here are some common challenges a home buyer faces and ways that a buyer’s agent can help!
- Lack of Time: It is nearly impossible to get out and do all the research yourself. There just isn’t enough time. A buyer’s agent has access to the information at their fingertips and the time to narrow down your search for you.
- Limited Budget: Along with lack of time comes a budget. If you don't know what to buy, where to buy it or how to start a buyer’s agent can help to streamline the process and make it simple.
- Who Can You Trust? It’s hard to trust real estate agents. Miriam says, “Even when it comes to a buyer’s agent you want to make sure they have the right credentials and formal qualifications.”
Missing Out on Properties: You aren’t saving money by not working with a buyer’s agent. In fact, you might be paying a price indirectly! Miriam points out, “If you have a $600,000 budget and you have been looking for 3 to 6 months and the market has gone up 5 % in that time, it’s actually costing you more than if you engaged and paid a buyer’s agent to do all the work.”
Purchasing a property for investment isn’t any easier than home buying. While you might have different criteria than purchasing a dream home you still don’t have all the extra time to search for the right place. Aside from that you want to work with a buyer’s agent with extra investment qualifications, not someone who is just an ex-selling agent. Here is why:
- Assess & Analyse Property: Investment qualified Buyer’s agents have expertise and knowledge of how the markets and growth drivers work. They know how to research, source, analyse and assess a property for its investment merit. For an investor, it’s like trying to compare an apple to a banana or an orange as not all properties are the same. Having experience, skill and expertise in this area is really valuable.
- Sworn or Licensed Valuer: Sworn Valuers are professionals who can assess and put a firm price on a property, at a point in time. They may not factor in what you have to pay at an auction, but they can tell you the minimum worth of a property.
Matching your Risk Profile: Some investors are conservative and low risk and others are high risk when it comes to investing. It’s important to work with a buyer’s agent who understands the risks associated to different investment strategies and properties so they can match it to your risk profile. Miriam says, “matching your risk profile is really important to help you sleep at night and get a good outcome.”
A buyer’s agent in Melbourne or your own city can help you make more informed choices. If you’re looking for a buyer’s advocate in Melbourne to help assist you with purchasing an investment property, Property Mavens has you covered.
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About Miriam Sandkuhler, Property Investment Advisor
With Diplomas in Property and Business Studies – in a non ASIC regulated industry, she’s uniquely qualified to develop and also fulfill successful and sustainable property investment strategies for her diverse range of clients - investors, SMSF trustees and home buyers alike.