Agents weigh in on what you should research before buying a home in Canberra

Buying a home is one of the biggest investments most people will make, but the process can be made less nerve-wracking through a process of due diligence.

In other words: do your homework.

Mario Sanfrancesco of Peter Blackshaw Manuka says thorough research can be the difference between success and disappointment.

“A methodical approach to the market will pay dividends in getting you – happily – into a home of your choice,” he says.

“My recommended starting point is budget and that can often be worked out with a responsible lender who can also provide pre-finance approval.”

Sanfrancesco says knowing your borrowing limit allows you into the market with greater confidence.

“I’ve seen the disappointment when buyers have made an offer and then not been able to obtain finance. My advice is to get that pre-finance locked in,” he says.

Holly Komorowski of home.byholly says buyers are far more educated these days and are comfortably researching online.

“There’s plenty of information that can help build a profile of suburbs of interest, sales history, dwelling types and so on,” she says.

“Many buyers have a detailed profile of the kind of home they are looking for and I add my local knowledge including recent sales.”

Komorowski says it also pays to understand the ongoing costs of owning a property, beyond a mortgage.

“Homes need to be maintained and rates always seem to be on the increase,” she says.

“Body corporate fees can also add $3000 to $4000 or more annually.”

Do your homework

• Due diligence. Go online and see what’s available in your suburb of choice and your dwelling type. Talk to an area specialist and get an understanding of recent selling prices and sales history.
• Sense and dollars. Work out what you really need as opposed to what you would like as there can be a big difference. Have a pre-finance meeting with your lender to lock in your budget.
• Boots on the ground. Hit the home opens and inspect. Weigh up the pros and cons: location, street position, level of presentation, age, size of block, proximity to schools, shops, transport, other amenities.

Have you got your finances over the line and are in the market for a high-end apartment? Here’s Allhomes’ top pick of units for sale:

3/22 Canberra Avenue, Forrest

Price guide: $1.495 million

3 bedrooms, 2 bathrooms, 2 car spaces

Three-bedroom apartments are relatively rare, but if you are going to find them anywhere and to an unrivalled level of inclusion and finish it will be in Forrest.

The Dominion Residences’ boutique residential development has been designed with the uncompromising needs of its higher income demographic firmly in mind.

This premium ground floor apartment prepares to deliver on its promise as you enter its foyer. Living spaces are generous and complemented by high ceilings and a quality hardwood flooring system.

All up, there are 152 square metres of internal living and 67 square metres of terrace entertaining that takes in views toward Parliament House and Manuka Oval.

The designer kitchen will not disappoint with Silestone benchtops, an island bench, high-quality Siemens appliances, and a butler’s pantry with wine fridge.

The en suite and bathroom are highlighted by floor-to-ceiling tiling and rainfall showers. The master en suite has an extra degree of luxury with a free-standing bathtub.

Other features include full-length, commercial-grade double-glazed windows, ducted reverse-cycle heating and cooling and recessed LED downlights. The apartment also features underfloor heating and intercom security access and a double car garage in the basement with further storage space.

The apartments are located close to the parliamentary triangle. This high-end development also offers easy access to Canberra’s finest dining, entertainment and shopping precincts, all within walking distance.

Private sale

Agent: Peter Blackshaw Manuka, Mario Sanfrancesco 0412 488 027