The process following the decision to move is exciting.

Many people enter the real estate market looking for that ideal property, but soon leave and decide to stay where they are when they don’t find anything that suits their needs.

To make your next property purchase easy, consider the following:

1. Set your budget. I suggest you have a meeting with your mortgage broker or financial planner to determine what you can comfortably borrow. With the current interest rate increases, it is important to consider all the options, from a fixed to a variable loan.

Some buyers we work with choose to have 50% of their mortgage fixed and 50% variable, so that they reduce the risks associated with increasing rates. Knowing what you can spend may also involve having an agent view your home to provide an opinion on its market price. This allows you to finalise all the numbers and to enter the market with confidence.

2. Develop a list of all the things the property must have. For some people, bedroom and yard sizes are the most important, while for others functionality of the kitchen and bathrooms play a vital role.

Although you can always renovate or upgrade components of the home, make sure you have allowed for these additional expenses in your budget.

3. Work out your preferred areas. One consideration here on the Coast is beachfront versus beachside. Beach front means you actually have the beach directly in front of your property, while beachside means that you are located close to the beach.

Those properties with a connection to water (ie canals or the beach) often gain a higher sale price, due to the desirability of the location.

It is possible to have the same home on two different sides of a street and have two very different sales results. Consider what you can purchase for the money you have available.

Before you purchase, consider how long you will be in the home. If you intend to stay for a long time, then views of the beach might be a really important factor as opposed to a slightly better home at the time of purchase.

4. Communicate with your agents. There are a lot of people who are thinking about doing something in real estate. Often, the speed of inquiry can make you feel that the agents don’t care about you and your purchase.

To find the best homes, you may wish to keep in contact with a few key agents to keep abreast of what is coming onto the market. Many buyers also sign up to www.realestate.com.au’s daily email alerts to stay informed about properties available.

If you have any questions you would like answered, simply email amber.werchon@raywhite.com