OH! Magazine - Australian Version April 2015 | Page 27

(Financial Fitness )

BUYER BEWARE! TIPS TO

TIM
BOYLE

AVOID THE TRAPS
Tim Boyle explains the traps to avoid when buying your first home.
o doubt, buying your first property
is
a
major
decision
and
commitment; for most of us, a property
purchase is the biggest financial decision
of our lives.

N

Unfortunately, it is often full of traps and
pitfalls that cause much undue emotional
and financial stress. Things never seem to
go the way we thought they would and we
get surprised when further ‘urgent’
requests (or bills) arise, whether it be from
the bank, agent, conveyancer or any of the
other people involved in the property
transaction.
There are so many people we have to deal
with and, inevitably, they have all been in
the industry for years, doing this all the
time. There is a huge imbalance of
experience in the property transaction,
which unfortunately tilts against the buyer
and towards the seller.
I often receive comments from clients who
just feel bullied or pressured into making
decisions on the spot, when they would
prefer not to. It seems we enter a vortex of
buying a property and don’t quite know
what is going to happen next or what is
around the next corner.

The good news is, this doesn’t have to be
the case. There is a way to cut through the
inexperience curve and get yourself to a
level where you will have confidence from
the time you start to think about buying,
until you move into the home you really
want.

indicators before each flight and they have
done it hundreds of times.

The best way to get there is to follow a
proven method to assess and make your
home purchase.

Over the years, I have developed a sevenstep system (see image below) to give a
buyer the best opportunity of buying well.
If you adopt this system, you will
successfully buy the best home for you at
the right price and avoid so many of the
problems and horror stories that are all too
common.

Such a method becomes your total
framework for buying your property; you
will find yourself referring to it throughout
the buying process, and it is a great tool to
help you in what can otherwise be an
uncertain, stressful, and frustrating
process.
The word ‘system’ or ‘methodology’ may
put you off; but honestly, it is amazing
how little proper planning most people put
into a property purchase. Many of us
spend more time planning our next holiday
than buying a home (be honest!).
Another way to look at it would be to think
about how much preparation an airline
pilot has to do before undertaking a flight;
they have to check all the instruments and

If you have a system that you know is
proven, you will get a great head start;
even if you have never thought about
buying a property before.

The whole process can be enjoyed and
there is no need to face the pitfalls and be
bossed around by the experienced players
you are dealing with.
By adopting a more methodical approach
you will save yourself a lot of unnecessary
stress and drama when buying your home.
Better still, you will end up with the right
property for you, will buy it at the right
price, and finance it the right way.
Time to convert that home ownership
dream into reality!

( OH! MAGAZINE ) APRIL 2015

27