Buying an apartment in Australia
What you need before you go to open apartment inspections
- A 10-20% deposit amount
- Know you borrowing power and get home loan pre-approval with a mortgage broker or negotiate directly with your bank if confident
- Find a solictor that can help you review your property sales contract and strata reports
- Calculate your monthly home loan repayments and what you are comfortable paying every month
- Calculate maintenance fees such as strata rates, council rates, and water rates
Off-the-plan apartments
Buying an off-the-plan apartment can be highly risky without doing your due diligence. Be careful of the fancy brochures and understand how you can reduce your risk and enjoy the benefits of a brand new apartment.