Purchasing an apartment is really exciting but sometimes it can be overwhelming trying to navigate everything that needs to happen before you can officially move in.
To assist and guide you through the buying and settlement process with ease, Lacey Group has a Buyer Relations team who work directly with buyers in the lead up and beyond property settlements.
To help you navigate the buying and settlement process, we’ve put together a go-to guide to assist buyers in preparation for settlement.
Preparing for settlement: key points to consider
1. READ OVER THE CONTRACT OF SALE THOROUGHLY
Before you purchase the apartment, it is important to read the terms carefully and ensure you understand your legal obligations as well as your rights into the settlement.
2. HAVE YOUR FINANCES READY
The first thing you will need to do is to prepare for settlement by securing your finances. It is important to make sure that you have the necessary funds available to complete the purchase. This may involve speaking with a broker and discussing products that are best suited to you and your circumstances.
3. START PLANNING YOUR FUTURE
Lead times on new furniture can be lengthy, so it’s a good idea to start thinking about how you might like to furnish your new apartment sooner rather than later.
4. INVEST IN STORAGE
If storage is a concern for you, invest in pieces that double as storage. This will help you maximise your square footage and keep your apartment looking neat and organised. Read more on how to maximise your space with The Organised Housewife.
If you’re downsizing, start planning what you’re going to take with you: Take the time to declutter. Sort through your things and decide what you want to keep, what you want to donate, and what you want to throw away. This will make packing and moving less overwhelming and save you time and money.
6. GET TO KNOW YOUR NEW NEIGHBOURHOOD
If you haven’t already, get to know your new neighbourhood: Take a walk around and explore nearby amenities.
7. ESTABLISH A BUDGET
Establish a budget for the outgoings associated with your new home: Rates, Body-Corporate Fees, Insurance and Utilities
8. RESEARCH LEASING AGENTS
If you’re an investor be sure to allow plenty of time to research and compare agents in the area. Some things to consider when selecting an agent are:
- Local knowledge and presence
- How they market the property and on which platforms and,
- Fee structure.
Other considerations might be:
- What type of tenancy would you like?
- What type of tenant would you prefer?
- Would you like to lease it furnished/partly furnished?
For more information about buying off the plan, read our blog Expert Conveyancing Tips to Buying off the Plan.
Contact us today for more information on purchasing and settlements.
*The information provided in this document has been prepared as a guide and does not constitute advice. Every effort has been made to ensure the information is complete and accurate. The information has been provided in good faith and with due care. The developer and seller of this project makes no representation (expressed or implied) as to the accuracy, adequacy or reliability of any statements, data, images or information contained within. Lacey Group Pty Ltd reserves the right to make changes to the contents of this document at any time. Whilst all endeavours have been made to ensure the content of this document is correct at the time of publishing, the information it contains is to be used as a guide and for information purposes only.