How to have a bloomin’ good spring property season

Spring property season is usually the busiest time of year for home sales. Not only are there more properties on the market, but there are more home loan deals and auctions to wade through. However, with some simple preparation, home buyers can certainly make hay while the sun shines.

Here are the four key ways to prepare for spring property buying .

Not every Australian suburb is the same, and property trends change constantly. If you know where you want to buy, do your research so you can spot good value in a home – and potentially make capital gains .

Namely, it’s important to research a suburb’s:

• Property prices.
• Geography.
• Home styles and types.
• Shopping and amenities.
• Roads and public transport.
• Local council.

These can all give you a good idea of what to expect going in. Having all this information ahead of time can also empower you to reach out to local real estate agents, negotiate, and ask insightful questions during the home inspection .

There isn’t much point in looking at properties you can’t afford, so crunch the numbers ahead of time and know your budget inside out. This includes:

• The maximum price you can afford.
• The size of your home loan deposit .
• Whether you need to pay stamp duty.

There are other miscellaneous home loan costs to consider, too, such as conveyancing fees and home loan fees, so having an airtight budget will help you suss how to best spend your money. If you’re eligible for federal first home buyer grants , try and get these in order, too.

If you’re unsure how much you’ll need to get started, here are some guides to help you see if you can afford a $600,000 home or $750,000 home .

One of the classic hallmarks of spring property season is the high number of auctions. Buying at auction can be a thrilling experience but also nerve-wracking or gutting if you lose out on your dream home. Preparation is key to making the most of an auction.

Before attending the auction, make sure you inspect the property and have a way to pay the deposit if your bid wins. Consider having a solicitor with you (or, better still, bid for you) to make the process as smooth as possible. Remember, if you overbid at auction and win, you’re on the hook to pay the deposit immediately.

Home loan lenders are aware of an influx of spring buyers, so deals on offer sometimes get more competitive during the spring property season. This may include one-off draws like introductory interest rates or cashback deals, but it’s important to look at the core features you want in a home loan rather than the bells and whistles.

In particular, it’s vital to compare these parts of a home loan:

• Home loan interest rates and comparison rates.
• Features like offset accounts or free extra repayments with a redraw.
• Repayment frequencies (monthly vs. weekly).
• Fees and charges.
• Borrowing power – since this can differ between lenders.

These will give you a better idea of the true costs of a home loan over time, as well as which products could offer you the best value for buying your dream home.

Compare home loans in the table below.