With its nearly year-round warm weather and breathtaking beaches and harbours, Northern Beaches is indeed a lovely place to live in. It provides a one-of-a-kind lifestyle with affordable homes around the area.
But, there are certain specific concerns to consider while purchasing houses for sale in northern beaches area. Here are some suggestions to assist you through the buying process, whether purchasing a property for investment or your ideal house or simply an apartment.
The land tax
If the land worth is less than $3 million, your primary residence is typically free from land tax; but, if the duties and taxes of land value are above $3 million, you are subject to premium property obligation.
Stamp duties
Stamp duty will be a tax that the buyers must pay when acquiring a home in Northern Beaches. It is due three months after the date of your contract exchange. When determining your budget, remember to include stamp duty because the greater the cost of the properties, the greater your stamp duty will be. It is roughly 4.7% of the buying price in NSW.
Contract
When bidding at auctions or making offers, have a solicitor or conveyancer analyse the contract. By reading the terms before the auction, you will have the chance to negotiate well with sellers on items such as:
- the deposit (5% instead of the customary 10% )
- or the period of settlement
Acquiring at an auction
Unless you are the highest bidder at an auction, you should be mindful that there can be no cooling down period, despite buying property by private treaty. You must also pay a deposit, generally 10%, immediately after the auction, using either a personal check or a payment bond. Additionally, you need your conveyancer to examine the contract, undertake a pre-auction building and pest inspection, and also have your finances in place.
Buildings and pest control inspection
Arrange a Building and Pest Examination on the property before making an offer. For example, when purchasing houses for sale in northern beaches area or an apartment, one should conduct a strata investigation to check the financial condition of the apartment building and the body corporations.
Neighbouring property development projects
Check with the local council of Northern Beaches to see if any pending development projects on neighbouring properties exist. You would not want to find out that your sea view is likely to be obstructed because your neighbours are building another storey to their home.
Make use of a buyer’s advocate
Buyer’s advocates in Northern Beaches, Sydney, may assist you in navigating the maze of buying a home. In addition, your buyer’s agent ought to have strong ties with the local realtors. These networks enable buyers’ agents to be aware of discreet homes on the marketplace that other purchasers are unaware of.
Because buyers’ agents are skilled customers, real estate brokers understand that a buyer represented by a buyer’s representative is a serious buyer. In addition, buyers’ agents have extensive knowledge of the region and visit numerous homes every day, and all of the investigations are conducted for you because they are aware of the market valuation of these properties.
Conclusion
Buying your dream house near the beach from the various houses for sale in northern beaches is something that will give you a feeling of satisfaction. Although it is as easy as you thought it is, there are things that you must consider in acquiring the best house for you and your family.