Buying property

Determine the budget for buying a house (please ignore it if you are financially sound).

Learn about loan options and get pre-approval from your bank.

Consider additional costs such as stamp duty, legal fees, home inspection fees, whether the equipment in the house needs to be replaced or renovated, etc.

Ie. apartments, single-family villas, townhouses, etc. What expenses will there be in the future, such as property fees?

Commercial projects: such as office buildings, commercial stores;

Industrial/agricultural projects: industrial plants, warehouses, industrial land; farms, businesses

This includes schools, transportation, shopping facilities, future amenities, etc.

• Second-hand house: It is best to have a professional organization conduct a house inspection to understand whether the house structure, electrical system, plumbing, construction and design, and additions are in compliance.
• New house: If the house has structural problems, the developer will have a 6-year warranty and a 2-year warranty for non-structural problems (Australian real estate developers must have compulsory insurance before they can start construction).

Consider a termite and pest inspection.

Have a professional attorney review the contract.

Make sure all agreements and terms are clear.

Understand market value and negotiate based on market conditions.

Never rush into making an offer without being fully prepared.

If you need a loan to buy a house, be sure not to participate in the auction without getting pre-approval for a bank loan (a very popular auction in Australia is conducted by public bidding). If the loan is not approved, you will face high risks. In addition to Facing late delivery penalties, 10% deposit loss, the seller must also be compensated for loss of advertising and opportunity, and the intermediary's commission must also be compensated.

Confirm the legality of property rights.

Check land tenure, easements, etc.