So you’re finally venturing into buying a new townhouse; that’s great! Living in this day and age also means that new townhouses prioritise your lifestyle by developing a low-maintenance lifestyle packed with amenities and even downright convenient. However, if you are still struggling to go through the process of securing your home within new-build townhouses Melbourne, we’re here to guide you from financing to the final walkthrough, so you won’t hesitate to start.
Get Pre-Approved for Financing
The reason why this is the first step and not visiting available open houses is that having a pre-approval for a mortgage is like an identification for the seller to know that you are a serious buyer, so they’ll give you a realistic budget to work with your mortgage type.
Work with a Knowledgeable Real Estate Agent
If you do not have any experience within the real estate world, this step can be a great advantage, so they can guide you in finding townhouses that suit your lifestyle and budget and would even negotiate the final price. What’s more is that they help you evaluate the townhouse based on your preference and other technicalities like HOA fees and the potential of it being your permanent home in the long run.
Start Your Search and Narrow Down Your Options
This is where the excitement starts—laying out your negotiables and non-negotiables. In this step, you are going to list down the number of bedrooms you want, how big the bathroom should be or the kitchen, and which location is best for you.
Make an Offer and Negotiate
And once you find the townhouse that ticks all your boxes from the list you did, it’s time to make an offer, so in this step, your real estate agent comes in handy because they will help you in determining what is a competitive bid based on the current housing market.
Conduct a Home Inspection and Appraisal
Even if the seller tells you that the townhouse is new, unexpected issues still happen, especially if there are things that were overlooked after turnover. With this step, you can also negotiate the budget so you can allot them for repairs.
Secure the Final Financing and Close the Deal
And once the inspection and appraisal are completed and good to go, your lender will finalise your mortgage so you can officially receive the ownership of the townhouse you want.
Do a Final Walkthrough
This last step ensures that there will be no unexpected issues when you move in, so the final walkthrough or punchlisting the space is crucial so you can verify that your new home is in the condition you expect it to be.
The steps are there so you will know what to expect, so you’ll have fewer things to worry about and more ways to look for the townhouse that suits you best. But also make sure that in all steps, you inspect everything, just to make sure you’re getting the home you deserve to stay in without the impending unexpected stress. Happy hunting!
