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Buying Tips

Owning your own home remains one of the great Australian dreams.
Whether you’re a first-time buyer or a seasoned homeowner, the excitement of finding the perfect property and making a successful offer never fades. At Ray White Narangba, we’re passionate about helping you turn that dream into reality. Our team offers expert local knowledge and personalised service to guide you every step of the way—ensuring you find not just a house, but a place to truly call home.

Property Wishlist

To help you on your journey to finding the perfect home, we’ve created a Property Wishlist.
This handy checklist allows you to prioritise and highlight the key features you’re looking for in your new home—making the search easier and more focused.

We recommend printing and filling out the wishlist, then either sending us a copy or visiting our office. If you’re ready to take the next step, Ray White Narangba is here to guide you through the process and help you find a home that truly suits your lifestyle.

Property Wishlist Checklist

Buying Tips

While owning a home means different things to different people, there are some common reasons many choose to invest in a mortgage:

  • Building long-term financial security through home equity
  • Turning monthly payments into an investment, not a rental expense
  • Gaining freedom and stability that renting can’t always provide
  • Making your home truly your own—with no need for landlord approval
  • Creating a valuable asset that can appreciate over time
  • Planning for a more secure retirement with a mortgage-free home

General Buying Tips

1. Build Equity Over Time
Paying off a mortgage is one of the most effective ways to build wealth. Unlike rent, your monthly repayments go toward owning a tangible, appreciating asset.

2. Long-Term Investment
Real estate typically grows in value over time, depending on the market and location. Buying a home is not just a place to live—it’s also a long-term financial strategy.

3. More Control and Freedom
Say goodbye to rental restrictions. No landlord inspections, lease renewals, or permission required to make changes. Homeownership gives you full control over your living space.

4. Retirement Planning
Many people aim to have their home paid off by retirement, reducing living costs and offering peace of mind in later years.

5. Get Pre-Approved First
One of the biggest hurdles for first-time buyers is loan approval. Getting pre-approved not only boosts your confidence but also strengthens your negotiating power when making offers—especially in competitive markets.

6. Buy Within Your Means
Set a realistic budget. Consider future life changes such as marriage, children, or job changes. Always factor in a 2% interest rate buffer to ensure you can handle possible rate increases. Your dream home is worth some sacrifice—but not your entire financial future.

7. Understand the Full Cost
Before signing anything, make sure you understand all ongoing costs:

  • Mortgage repayments
  • Property taxes
  • Insurance
  • Utilities
  • Maintenance
  • Strata or council fees (if applicable)

8. Conduct a Pre-Settlement Inspection
Visit the property just before settlement—after the furniture has been removed—to ensure everything is in the agreed condition. This final check helps avoid unexpected surprises caused by damage or overlooked issues.

9. Get Everything in Writing
Verbal promises don’t count. Always ensure all terms, inclusions, and agreements are documented. Keeping a written log of all communications can help resolve potential disputes and protect your interests.

Buying at Auction: What You Need to Know

Purchasing a property at auction can be exciting—but it’s not without risk. It pays to do your homework before raising your paddle. Here’s a practical guide to help you prepare and make confident decisions when buying at auction in Queensland.

Do Your Research

Before bidding seriously:

  • Attend other auctions to observe how they work
  • Research property values in the area to set realistic expectations
  • Review recent auction results to understand trends and pricing

Understand the Conditions

  • Bidding at auction is unconditional—you cannot include special conditions like subject to finance
  • There is no cooling-off period in Queensland auctions
  • Be prepared to pay your deposit (5–10%) on the day, immediately after a successful bid

Review Contracts and Conduct Pre-Auction Checks

  • Have a solicitor or trusted advisor review the contract before auction day
  • Conduct building and pest inspections, and ensure all title and council searches are completed
  • Read the terms and conditions of the auction, which must be made available and read out before bidding begins

Register to Bid

To place a bid at a Queensland property auction, you must:

  • Register before the auction starts
  • Receive a unique bidder identifier, usually in the form of a number or paddle

Set a Firm Limit

Auctions can become emotional. To stay in control:

  • Decide your maximum bid limit in advance
  • Consider bringing someone along—a financial advisor, agent, or friend—to keep you focused and objective

Vendor Bids

Auctioneers in Queensland are permitted to make vendor bids (on behalf of the seller) before the reserve price is reached. These must be clearly declared by the auctioneer.

If You’re the Winning Bidder

  • You must sign the contract immediately following the auction
  • A deposit (usually 5–10%) is due on the spot
  • There are no cooling-off rights—if you win, you are legally bound to settle, regardless of finance or later discoveries about the property