Buying a new home can be daunting. Making decisions on where to buy, how much property is worth and if the time is right to purchase can often be overwhelming.
It’s a good idea to jump online and look at real estate websites such as realestate.com.au to search for properties for sale in your chosen area and their listed prices. By conducting some initial research, this will give you a good indication of what property is worth in that suburb so you can decide if the area is right for you and how much you will be looking to pay to purchase in that suburb.
However, just because there is a sale price listed on the property, doesn’t necessarily mean that the property is worth that amount. I recommend that as well as going online, you should start attending open houses and talking to local agents in the area. Ask to be placed on the agents mailing list so that you can collate information about the area to be able to understand what the market is doing. Local real estate agents are experts in the area so they are going to be the best source of information regarding general information and comparative sales for that suburb. It is important to understand that agents will always paint a positive picture as they are motivated to sell property as quickly as possible.
With this in mind, it’s important that you do your own un-biased research. There are companies that record information on properties all around Australia. They provide information on recent sales and property ownership. Valuers, Real Estate Agents and other companies subscribe to this service.
At loans.com.au we offer access to this service by providing our very own free property reports to anybody who comes to our website. These reports are really informative and they tell you about the property you are looking at purchasing, including a description and previous sale prices. They also go a step further and provide information such as recent sales in the area, a profile of the suburb including median sale prices, a breakdown of the demographics of the area including household structure, how many people rent vs. own in the suburb, the age breakdown of the area and the average income in the area. CMA’s are very comprehensive and are a great tool to help you understand the attributes of the property and area.
So if you are looking to purchase a new property, or if you have a property and want to know more about what’s happening in your area, order your free CMA on our website. We do this all the time for customers, and there is no limit to how many you order. By assisting you with your pre-purchase research, we are able to help you purchase that property sooner and with confidence!
For more information contact us on 13 10 90 to order your free CMA property report.
By Marie Mortimer