What to look for when buying a home

Director Craig Bennie discusses the do’s and don’t of buying a home and what to look out for. See the full transcript below.

What to look for when buying a home

Hi, and welcome to Ray White Rosebud TV. My name’s Craig Bennie from Ray White here in Rosebud. Today I want to talk to you about what to look for when buying. This is often a question I get asked when out at open for inspections, or buyers down here on the Mornington Peninsula. I think it just comes down to a case of what you can afford, don’t necessarily overextend yourself, but buy in the best suburb you can, and in the best location. When saying best location, I mean something as close to the beach as you can, potentially. I think long term that’s probably the best option, and if you’re close to shops, transport, and schools for example, that can also be an advantage.

I think if you’re an investor you should be looking for three or four bedroom homes. Not necessarily on large blocks, depending on whether you wanted to develop down the track because I don’t think you get a great return on larger blocks. I think three or four bedroom homes are a much better option. I think depending on what stage of your life you’re at, whether you are getting a little bit on in life, you’re looking at retirement, I think something low maintenance, and something new would be more desirable for example, than if you were younger and you were looking for something to add value, or potentially buy a development site.

But I think it all comes down to what you can afford, but adding value long term is definitely the way to make money, whether it is a development or renovating. Hope you’ve enjoyed this version of Ray White Rosebud TV. If you’ve got any questions please drop us a line. Thanks for listening.

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