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You have decided to take the JUMP!

So, you’ve decided that you want to buy your first home. Maybe you’re sick of renting or maybe you’re ready to start building some equity! Whatever your motivation, home buying is an exciting step in your life! The best way to enjoy the excitement is to become an educated buyer, so that you will know what to expect along the way.


Step 1: Mortgage pre-approval

It’s easy to get excited about finding your first place! Before you get wrapped up in the shopping stage, don’t forget that the most important part of the process is securing your financing. The first thing to do is to get in touch with a mortgage broker. If you don’t already have one you want to work with, ask your real estate Sales Professional ("agent"). Pre-approval is a short process that will let you know how much a bank or financial institution will lend you. This step is incredibly beneficial before you begin your shopping, so you won’t waste time looking at homes above or below your price range.


Step 2: Be prepared for other related costs

When you buy a home, there will be other costs related to the purchase that can catch you off-guard.

The most important cost is your down payment. For most residential transactions, you will require at least 5% of the purchase price for your down payment. In some circumstances the down payment may be higher, but this depends on the property you purchase.

Other associated costs include legal fees, moving costs, home inspection fees, home insurance, mortgage insurance, deposits for utility accounts, and you may need some additional furniture or appliances for your new home as well.

Take some time to look at these costs and set out a budget for yourself to ensure that when they arise, you are prepared for them.


Step 3: Separating wants from needs

Before you get out looking at homes, the best way to start your search is to identify what you need in a home, and what you would ideally want to have.

Try making a checklist, starting with things that are a must. As an example: the house must be in town, have 3 bedrooms, at least 2 bathrooms, a finished family room, and a fenced backyard.

Once you know what you must have, have some fun and make your “wish list!” It might include things like hardwood floors, a back patio, a rain shower, or a master ensuite.


Step 4: Make sure you are represented!

A local Sales Professional is your inside track to finding the right home. They will ensure that you are finding the right home quickly and are well represented in your purchase. A common misconception is that you need to call the Sales Professional who has the property listed for sale; however, this is not the case. Any licensed Sales Professional has access to the properties found on the MLS system.

When you are choosing a Sales Professional to work with, it is important to make sure that you feel comfortable working with them. At any point in the process, you should be able to ask any questions you have and should never feel rushed or pressured into making a decision. Remember: their biggest concern is to make sure you find a home that will work just right for you!


Step 5: The offer and purchase

Once you have found the home that is perfect for you, the next step is making it yours! Your Sales Professional will prepare an offer, referred to as an Agreement of Purchase and Sale, and negotiate the terms of the sale on your behalf. Together, you will look at comparable sales in the neighbourhood to determine a fair purchase price to offer the sellers, and which items you may want to be included in the purchase price (such as appliances).

Your Sales Professional will also include the appropriate conditions to make sure you are protected during the process. This could include things like a home inspection and/or a financing condition.


Step 6: Move in and enjoy your new home

Remember: not everything has to be done right away. Take some time to enjoy this experience: cleaning, painting, and tidying will all be complete in good time. Welcome to the wonderful world of home ownership!

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What People are saying


Keith I take this opportunity to thank you sincerely and convey my appreciation for the hard work and diligence you showed during the process of selling our home. As you will recall our home had been with another agent who brought through 2 groups of people in 3 months and gave us no feedback. In 10 days you had 9 groups through and so it went on. Your consistent and regular feedback was much appreciated. From day 1 you were determined to sell our home and did so successfully. At all times you kept us informed of market conditions and interest in our property. Our open homes were well organised and expertly handled you both yourself and Brendan. I have no hesitation in recommending Keith Murphy from Refresh Properties to any buyers or sellers – believe me Keith will ‘make it happen’. Odette Palmer

WOW - SOLD IN 14 DAYS!!!!!

Selling your home can be a stressful and worrisome experience, but through Keith's very professional efforts, it became an enjoyable and comfortable process for me. When I found I had to do some unexpected painting, Keith did not hesitate to help me get that done - and she is a brilliant wall painter! If I have the opportunity to help anyone find a realtor on the Gold Coast, I would send them directly to Keith Murphy.

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About Refresh Property

Refresh Property Australasia is a sophisticated boutique international real estate group primarily based in Australia. With a single international website and a superior brand incorporating a soft colour scheme, Refresh Property operates only in specially selected metropolitan and lifestyle locations where a savvy, discerning clientele appreciates our premium, boutique identity and unique points of difference.

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