Hi guys,
I’m a newbie @ this so please forgive me if I ask what seems like a “stupid” question. I’m currently 22 and a student. That means I don’t have a regular job but I do have some cash on hand.
What I’m looking to do is purchase a house/apartment in the Brisbane area (preferably within 15km of the CBD).
1) How does one decide/judge whether a certain unit as above/below the market rate?
2) What are the procedures like for purchasing some property in Brisbane?Regards.
Getting started into the property matket is a good step.
You need to do good research in terms of:
1. What u wanna buy (IP or Home to Live), & what price are u willing to pay and loan.
2. Do a through research with the estate agents, council, once u have decided the property, try to find comparable sales figures so that u have a fair bit of idea of what the property is worth.I’d say these are the first 2 steps and later on you have to decide on a negotiation strategy…. like how to approach the seller, how to approach banks and so on….. Have a look around and wish u luck…
I was just browsing around there and it’s got an ok summary of the process there.
and regards to the market price for a property, agents use http://www.realtor.com.au to make a CMA (Comparative Market Analysis). Im not sure how you pay the subscription fee from what I saw browsing the site, but I know numerous professional investors use it.
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