Questions to Ask the Real Estate Agent

When inspecting properties, don’t be afraid to ask questions. A real estate agent’s job is to sell, so it’s up to you to dig deeper and ensure the property is a good fit. Here are some essential questions to ask:

1. Why is the owner selling?

Understanding the seller’s motivation can help with negotiations. If they need a quick sale, they may be more willing to accept a lower offer.

2. How long has the property been on the market?

If a home has been listed for a long time, there may be underlying issues or room to negotiate on price.

3. Have there been any recent offers?

This gives you an idea of the competition and what price range others are considering.

4. What’s included in the sale?

Clarify what comes with the house (appliances, light fixtures, blinds) to avoid unexpected costs later.

5. Have there been any recent renovations or repairs?

This helps identify if major work has been done or if you’ll need to budget for repairs.

6. Are there any known issues with the property?

Sellers must disclose certain problems, but it’s always good to ask directly.

7. What are the council rates and strata fees (if applicable)?

Ongoing costs like rates and strata fees can impact affordability, so it’s important to factor them into your budget.

8. What’s the neighbourhood like?

Ask about nearby schools, public transport, crime rates, and future developments that may impact property value.

Essential Property Searches and Why They Matter

Before committing to a purchase, conducting the right searches can save you from future headaches. Here are some key ones to consider:

1. Building and Pest Inspection

A professional inspection checks for structural damage, termites, and other potential issues. This can save you from expensive repairs later.

2. Title Search

Confirms the legal owner of the property and checks for any restrictions or caveats that could affect your ownership rights.

3. Flood and Bushfire Risk Assessment

If the home is in a flood or bushfire-prone area, this could affect insurance costs and long-term safety.

4. Zoning and Planning Searches

These searches reveal any future developments planned for the area, such as new highways, apartment complexes, or shopping centres, which may impact your living conditions or property value.

5. Strata Report (for apartments and townhouses)

If you’re buying into a strata scheme, this report shows the financial health of the building, upcoming maintenance costs, and any disputes among owners.

6. Utilities and Services Check

Ensure essential services (electricity, water, internet) are readily available and functioning properly.

Moving Out of Home: The Reality of Living on Your Own

For many first-home buyers, moving out of the family home is a major lifestyle change. Here’s what to expect:

1. Financial Independence

• You’ll be responsible for mortgage repayments, utilities, insurance, and council rates.

• Budgeting becomes essential—set aside money for unexpected expenses.

2. Household Responsibilities

• No more parents reminding you to clean! You’ll need to manage cooking, cleaning, and maintenance on your own.

• Unexpected repairs (like a leaking tap or broken appliance) are now your responsibility.

3. Lifestyle Adjustments

• You’ll have more freedom but also more responsibility. Balancing work, social life, and home maintenance takes planning.

• Noise levels and lifestyle changes may come as a shock if moving from a family home into an apartment or suburban area.

4. Emergency Preparedness

• Set up an emergency fund for unexpected costs like appliance breakdowns or rate increases.

• Know where your main water and electricity switches are in case of emergencies.

Final Tips for First Home Buyers

✔ Get Pre-Approved for a Loan – Knowing how much you can borrow helps narrow your search and gives you negotiating power. Mortgage Matrix offers free appointments to help you understand your borrowing capacity.

✔ Stick to Your Budget – Don’t get caught up in bidding wars that push you beyond what you can afford.

✔ Think Long-Term – Choose a home that suits your needs not just now, but in the future.

✔ Seek Professional Advice – Work with a mortgage broker to compare loan options and secure the best deal.

✔ Understand Government Grants & Incentives – First home buyers may be eligible for grants, stamp duty concessions, or other benefits.

Next Steps

Purchasing your first home is a big step, but with the right knowledge and preparation, you can make a confident and informed decision. At Mortgage Matrix, we specialise in helping first home buyers secure competitive home loans and navigate the buying process with ease.

Book a free appointment today to find out how much you can borrow and take the first step towards homeownership!