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Why buying a home is like being in the Olympics?



4 years have come and gone and the 2016 Rio Olympics have taken over our televisions and our social media feeds.

The stamina and endurance of athletes isn’t too different to the sport of buying a property. While there are no drug cheats in this swimming pool, there are definitely sharks! Coaching and training is the only way to prepare yourself.

The Search

Before you dive into any sport, you need to prepare. Searching for a property is the equivalent to years of training. You will need to know your budget, the suburbs you want to live in, research the value of the area, watch auction prices, understand the proximity to points of interest and find a place that suits all your needs.

No one said training would be easy. The preparation stage is hard work but your effort and determination will pay off in the long run.

Open House

Consider this the opening ceremony. Your first chance to suss out the competition but also your first chance to assess the arena. You want to ensure every inch is up to your standard. Make sure to the experts evaluate their areas as well, from property valuers to building inspectors. Don’t make this life decision without really knowing what you are in for.

If you’re lucky enough to find home that suits your requirements, you’re now up against anyone else interested. They are now your competitors.

Approval

You have trained and prepared and found a potential winner, but now to check with the officials about your finance. There are more checks to get your finances in order than an WADA test. Make sure all your paperwork is in order before meeting with your bank.

Auction Day

You have been preparing for this day and it is finally here. The main event, but as the adrenaline is pumping, try to maintain your cool. You don’t want to get too eager and blow your budget or worse, lose the place all together simply by not having your head in the game.

If you don’t take home the gold, keep your head up. Keep searching and preparing and come back for the next heat with your eye on the prize.

Signing the contracts

And now for the medal ceremony. As the national anthem plays and you take the podium, the agent or vendor will greet you with your purchase contract. As the excitement takes over, make sure to be vigilant. You don’t want to accept a gold medal only to find out it is stainless steel dipped in paint.  Make sure to check in with a conveyancer to help you through this step of the process.