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The Top 5 Common Property Buying Mistakes (And How to Avoid Them)

Buying a property is a huge decision, and there are several common mistakes that many first-time buyers (and even seasoned investors) make. Check out these top five mistakes to avoid.

The Top 5 Common Property Buying Mistakes (And How to Avoid Them)

Buying a property is a huge decision, and there are several common mistakes that many first-time buyers (and even seasoned investors) make. Check out these top five mistakes to avoid.

  1. Skipping Due Diligence: Always research comparable properties and the overall market. Don’t rely solely on what the agent tells you—make sure you’re fully informed.
  2. Overlooking Hidden Costs: Beyond the price, there are extra costs like stamp duty, legal fees, inspection costs, and potential repairs that you need to account for.
  3. Trusting Only the Agent’s Advice: Agents work for the seller, not the buyer. Seek advice from an independent expert negotiator to ensure your interests are protected.
  4. Not Having a Clear Budget: Don’t get emotionally attached to a property and allow it to cloud your judgement. Set a realistic budget that includes all your costs and stick to it.
  5. Neglecting Negotiation: Many buyers accept the asking price as the final price. Always try to negotiate—there’s usually room for adjustment, especially if you’re working with an expert.

Avoid these mistakes and make a smart property purchase.

Scott Aggett is Australia's #1 expert property negotiator.

Book a consultation with Scott today and learn how our expert negotiation services can help you avoid overpaying and secure the best deal.