The home loan advisor
Getting your finances right is one of the most crucial parts of buying a property, so you’ll need some guidance here. While friends and family will all have their own take, you might be best talking to professionals who can objectively review your current situation and advise on what that means for your budget.
Pro tip: At UBank, we’ve got a team of specially trained Customer Service Advisors who can quickly figure out whether we’re a match for the type of home loan you’re after. All you need to do is get in touch with us.
The building inspector
Unlike a new pair of kicks or those ill-fitting jeans, a property can’t be ‘returned’ if you decide you don’t like it. After you’ve fallen in love with a place, you’ll want to have an inspector take a look before you pull the purchase trigger. These building professionals will take a structural look at the building, in some cases identifying deep-rooted problems that could cause serious damage to your wallet months (or years) down the track. While you’ll want to employ a professional for the official sign off, it’s not a bad call to ask a tradie mate for an extra set of eyes, too.
The Saturday sounding board
Alongside a professional, you need a trustworthy friend who can give their opinion on whether this home is the right one for you and your lifestyle. Is it close to local schools, shops and transport? Is it too close or faraway from a beach? Will it take you 6 months’ worth of renovations for you to want to live in it? You need someone to join you on inspections who really knows your lifestyle, and can help decide whether the house will be an enabler or barrier to it.
Pro tip: A professional inspector will set you back at least a few hundred dollars, but could save you big money in the long run. For your mate’s advice, a case of beer will usually do the trick.
A conveyancer is a licensed professional you can hire – and it’s a good thing to consider because it could save you big in the long-run. Conveyancers are qualified to handle the fine-print of property purchasing – things like reviewing the contract, arranging building inspections, reviewing inspection reports and organising the transfer of the property to you. Nobody ever said paperwork was fun, so if someone else is happy to take the lead, it’s a no-brainer.
Pro tip: If you’re after more info, we’ve done a deep-dive into the role of a conveyancer and a few other key people you’ll meet on your home loan journey.
The auction buddy
Do you have an Olympic-sized competitive streak for just about any activity, or emotions that completely take over? If so, auctions might be your biggest test yet. Take an auction buddy with you; someone who can calm your senses, keep you on track and crash tackle you to the ground before you lift that paddle beyond your budget. You’ll thank them in the long run.
The ‘been there done that’ buddy
Got a friend who just survived the process of buying a home? Use them to your advantage! Chances are they’ll be more than happy to impart some wisdom or, at the very least, the power of hindsight and tell you what not to do. This person can give you tips for every step of the journey and will often bring a less-emotional perspective, considering it’s not their own hopes and dreams this time around.