Buyer's Advocate Directory

What do you want?

Tags: buyers advocates buyers agents needs personal needs property property investment property needs

Now that you know what a Buyer's Advocate or Buyer's Agent is,
why should you use a buyer's advocate or buyer's agent and how you choose a buyer's agent, it's time to focus on the next question:

What do you want?

We alluded to this in the previous entry, How do you choose a buyer's agent? but it's so important we want to talk about it again.

Each of Australia's buyer's advocates or buyer's agents have a different approach to:

• Clarifying your needs
• Searching for your property
• Assessing your property and
• Purchasing your property

We will be talking about this in more detail over the course of the year.

At this stage it is essential that you focus on step 1 and get this right before starting to work with a buyer's agent. Information is power. The more you know and the better you are prepared, the more effective the buyer's agent can be in picking and purchasing the right property FOR YOU. Buyer's agents can assess the value of hundreds of properties, but unless they are sure of your needs, you might be getting the best property, not the best property for you.

Take some time to make some notes of the following, and think about this a little before you choose your buyer's agent:

• Do I want to purchase a house, apartment, farm, townhouse etc?
• Do I want to buy in the inner city, on the coast, in the country?
• Do I want to live in this property or rent it?
• If I want to rent the property how much rental return do I want?
• What is my budget for the purchase? What do I think I can get for this price? Am I prepared to move on this price?
• Do I want to buy, renovate and sell or do I want to buy and hold?

You might need to consult your accountant or financial planner to help you answer some of these questions. Also, talk about them with your parter, family and friends. It really helps to share these ideas. But in the end make sure that they are your ideas that you are happy with.

But knowing what property you want is just part of the equation. What do you want?

• Where do I expect to be in 5 years? In 10 years? Do my property needs match this?
• Do I want children? Will my children have left home? Will my children have become teenagers?
• Do I like to go to the movies, drink coffee, go to the football, rest in the park, cycle to work or take public transport?

These are but a few of the many important questions you need to ask yourself before finalising your needs. Once you begin to think about these property and personal questions and have talked to your buyer's agent, you will sit down and formally assess the options.

This is when you are truly empowered to make the best property purchase FOR YOU.

Last modified: May 20, 2008 9:30 PM