If you've been searching for property for a while, it can be extremely tempting to simply take out a home loan and secure the first property you fall in love with.

Seeing a particular feature or design trick that sets your heart aflame may feel right, but don't let passion trick you into making an emotional buy.

Furthermore, becoming attached to a property leads to the possibility of overspending, as you may become convinced that if you don't make the highest bid you will lose out to someone else. This can be a problem, especially if you're in an auction situation as a first home buyer.

While a degree of feeling should be involved with property purchasing, you also want to keep your head on and your facts straight to avoid being duped or overcommitting to a subpar property.


The most crucial aspect of purchasing real estate is ensuring you have budgeted for all the costs involved with the buying process. This should include any extra fees or charges involved with the transaction – such as stamp duty –  as well as the bulk of your deposit.

One trick to help give yourself some wiggle room when it comes to negotiations is to set your budget slightly lower than necessary. This way you can play it cool, knowing that if the property you have found is the perfect place for you, there's some backup funds available to help secure it.

Quality Checking

Once you've found a home, be sure to have an independent professional property inspector come to take a second look over the house.

The last thing you want to happen is to find out the amazing house you fell in love with was all smoke and mirrors, with a number of deficiencies undeclared or covered up. 

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!

Share on:

DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.