Buying a property is a huge investment. There are many things to consider and it requires a lot of time and effort. Where do you buy? How much is the property worth? Is there good opportunity for growth in the area? Are you likely to pay above market price? Not to mention the countless inspections for properties that may not even be the right match for you.
Without industry experience, it’s likely you don’t have the knowledge or time available to carry out due diligence. But don’t be defeated; this is where a property advocate comes in!
Whether you are buying your first home, upgrading, downsizing or purchasing an investment property, there is a lot at stake, so you want to make sure you make the right decision. The aim of engaging a property advocate is to ensure you achieve your objective without paying more than you should. A property advocate represents your interests throughout the buying process, providing advice and expertise on property market conditions.
You may be feeling reluctant to hand over control of the process to another party but they can be involved as little or as much in the process as you like. Here are five reasons why you should reconsider the help:
1. Saving time
Having a professional identify the properties on the market that meet your needs can save you a huge amount of time, efforts and stress. Your weekends are valuable and you don’t want to waste them attending inspections unless the properties tick all your boxes.
2. Investing in the know-how
Property advocates are specialist in their field and have years of experience in the property market. They can help you source the right type of property in locations you can see yourself living in with good prospects for capital growth – reducing your chances of making ill-informed investment decisions.
3. Keeping emotions out of the decision
This is a big one! With the personal nature of property (especially if it’s the one you’re planning to live in) it’s hard not to get emotionally invested when we find one that we love. A property advocate can represent you during the process to avoid you becoming emotionally attached and shut down your competitiveness kicking in so you don’t end up overpaying.
4. Using the right information
A property advocate has access to extensive data about property history and detailed knowledge of benchmarks for residential areas. This gives you the confidence to make the right offer and ensure the property is valued against official, verified data that will allow you to finance your property accordingly.
5. Bidding and negotiating the right way
Bidding at auction can be intimidating, so it’s valuable to have someone experienced representing you. Property advocates are skilled negotiators who can read “the play”, understand the process and can bring confidence, objectivity and the tactics necessary to make a successful bid.
Purchasing a property can be both exciting and daunting, but it doesn’t have to turn into a stressful experience. Engaging a property advocate allows you to leverage off a professional’s expertise, to target, locate and purchase the property you want, stacking the odds in your favour!
Want to know more about Property Advocacy, read on here.
The information contained in it is general and is not intended to serve as advice. DPM Financial Services Group recommends you obtain advice concerning specific matters before making a decision.