Newspaper article The Daily Mercury (Mackay, Australia)

The Top 5 Things Buyers Should Focus On

Newspaper article The Daily Mercury (Mackay, Australia)

The Top 5 Things Buyers Should Focus On

Article excerpt

IN 2017 prospective buyers should look at future developments and infrastructure projects that could have an impact on properties they wish to own, says buyers' advocate and qualified property investment advisor Cate Bakos.

Here are the five things Ms Bakos says buyers should keep in mind in 2017:

1. How sure are you of your finance?

"Lender scrutiny has increased... it's not as easy to get a loan as it was," Ms Bakos says.

Lenders are now pickier about who they lend to and how much they lend, following APRA's changes to borrowing criteria.

Off-the-plan and apartment buys are now heavily scrutinised by the banks.

2. Where is the market moving?

Despite the talk of demand and high prices, buyers need to look at where prices are actually heading.

"Assuming that prices will fall or remain the same is a little bit naive if we still have the same forces driving our market."

3. What's the real value of the property?

Look closely at what is going on in the area, to work out the value of the property you wish to buy. …

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