Buy Property in Balmain

Rebecca Fearon takes a more personal approach when it comes to real estate. As an expert real estate agent, there's no job that's too big or too small with Rebecca. Whether you're planning to buy a property or sell one, she can provide you with open and in-person availability to match your schedule. All whilst letting you experience the highest quality service and skills that you can expect from a seasoned real estate expert.


If you’re looking for the best suburb to invest in, consider buying a home in Balmain. It’s an affluent neighbourhood in the west of Sydney CBD that has a laid back but upscale vibe. It’s one of the oldest and most historic suburbs in Sydney. What makes it more attractive is its waterfront location, proximity to the city and family-friendly feel.


Rebecca Fearon can help you buy your dream property in Balmain as you navigate through the housing market with ease. We'd love to learn more about your stories and homeownership aspirations so we'll know how to help you. Send us a message to get you started!

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rebecca_image_bio

Welcome

Do you want to sell a property?

Buy a new property?

Or receive an appraisal on your property?


Rebecca Fearon, one of the leading Inner West real estate agents is here to assist you achieve your goals


Contact Rebecca now and discuss how she can help you make your move 

VIEW LISTINGS CONNECT WITH REBECCA

What To Look For When Buying a House?

When buying a house, you need to first have an idea regarding the size of property you want before starting your house hunting. Property size should depend on what you need and your preferences. If you're planning to start a family soon, it's best to look at properties with more bedrooms and bathrooms. Meanwhile, if it'll only be you and your partner, then it's more practical to look for smaller houses.


A house location is another consideration. You can change the house designs and live with the imperfections, but you can’t change its location. Its proximity to work, accessibility and neighbourhood safety are some of the things you should also look for.


Inside the house, you can check if the heating and cooling systems are working or what type is installed. Would you need to have it updated? How about the basement? You should determine whether it’s finished or remodelled and if you can use it as an added living space. Also, watch out for any signs of water damage.


When looking at house listings, you should also consider the house exterior. Make sure to check on the roof and foundation and see if they’re decaying or collapsing. You wouldn’t want a deteriorating exterior.   


Don't let your excitement rule over when looking at houses. Schedule a house inspection to help you see if there are a few red flags to watch out for.

How Much Deposit Do I Need to Buy a House?

Banks and other financial institutions would primarily require you to pay at least 20% of your target property's price. So, if you're planning to purchase a $500,000 property, then you'll need to save at least $100,000 for the down payment. Although it may take a long time to save, paying a higher amount will help you pay less interest.

How To Buy Your First House

You need to check your financial health. Do a complete audit of your expenses, as well as your savings. The outcome of your audit will let you know whether you're ready to become a homeowner or wait until you get your finances settled.


Check your savings. Remember, homeownership is more than about paying your monthly mortgage bills. Building an emergency savings account worth six months of your living expenses is advised before considering buying a home.


You also need to know how much you spend each month and how you allocate the rest of your budget. Reviewing your spending will let you know the amount that you can assign to your home loan payment, together with your other monthly expenses. Ensure that you list down all the costs you need so you won't forget anything when calculating your budget.

Should I Buy a House Now?

You should buy a house now if you have the needed money for the downpayment and you’re prepared to pay for your monthly mortgage. To know if you're finally ready to buy a house, you also need to understand your debt-to-income (DTI) ratio. Most financial institutions calculate an applicant's capacity to pay based on their DTI. Debt is about the mortgage you're trying to apply for, including your other existing debts and your overall credit card limit. Income refers to your gross income, including your other sources of income like investments, commissions and bonuses.


You can calculate your debt-to-income ratio by calculating your entire debt and dividing it with your annual income. For instance, if you earn $90,000 per year and have a credit card of $10,000 with a mortgage of $150,000, your DTI is 1.78, which means that you owe 1.78 times your earnings.

What To Consider When Buying a House

Your length of stay is one of the factors you need to consider when buying a house. Think about if your decision to stay for an extended period is more economical compared to renting. Every housing market is also different, depending on your location. It's essential to consider your future plans before deciding to buy a home.


You should also take into consideration the economy to which job security is heavily dependent on. You must have a stable job when you buy a property because getting a mortgage is a long-term commitment. Before committing to anything, make sure you have job security. Otherwise, you might end up in bigger debt if you fail to meet your monthly repayments.


Mortgage rates can also heavily affect your ability to pay for your home loan. They can fluctuate, depending on the housing market status. With a reliable property agent, you’ll know how the housing market goes and see if it'll affect your mortgage rates when you decide to look at homes for sale.

What To Look For When Buying a House?

When buying a house, you need to first have an idea regarding the size of property you want before starting your house hunting. Property size should depend on what you need and your preferences. If you're planning to start a family soon, it's best to look at properties with more bedrooms and bathrooms. Meanwhile, if it'll only be you and your partner, then it's more practical to look for smaller houses.


A house location is another consideration. You can change the house designs and live with the imperfections, but you can’t change its location. Its proximity to work, accessibility and neighbourhood safety are some of the things you should also look for.


Inside the house, you can check if the heating and cooling systems are working or what type is installed. Would you need to have it updated? How about the basement? You should determine whether it’s finished or remodelled and if you can use it as an added living space. Also, watch out for any signs of water damage.


When looking at house listings, you should also consider the house exterior. Make sure to check on the roof and foundation and see if they’re decaying or collapsing. You wouldn’t want a deteriorating exterior.   


Don't let your excitement rule over when looking at houses. Schedule a house inspection to help you see if there are a few red flags to watch out for.

How Much Deposit Do I Need to Buy a House?

Banks and other financial institutions would primarily require you to pay at least 20% of your target property's price. So, if you're planning to purchase a $500,000 property, then you'll need to save at least $100,000 for the down payment. Although it may take a long time to save, paying a higher amount will help you pay less interest.

How To Buy Your First House

You need to check your financial health. Do a complete audit of your expenses, as well as your savings. The outcome of your audit will let you know whether you're ready to become a homeowner or wait until you get your finances settled.


Check your savings. Remember, homeownership is more than about paying your monthly mortgage bills. Building an emergency savings account worth six months of your living expenses is advised before considering buying a home.


You also need to know how much you spend each month and how you allocate the rest of your budget. Reviewing your spending will let you know the amount that you can assign to your home loan payment, together with your other monthly expenses. Ensure that you list down all the costs you need so you won't forget anything when calculating your budget.

Should I Buy a House Now?

You should buy a house now if you have the needed money for the downpayment and you’re prepared to pay for your monthly mortgage. To know if you're finally ready to buy a house, you also need to understand your debt-to-income (DTI) ratio. Most financial institutions calculate an applicant's capacity to pay based on their DTI. Debt is about the mortgage you're trying to apply for, including your other existing debts and your overall credit card limit. Income refers to your gross income, including your other sources of income like investments, commissions and bonuses.


You can calculate your debt-to-income ratio by calculating your entire debt and dividing it with your annual income. For instance, if you earn $90,000 per year and have a credit card of $10,000 with a mortgage of $150,000, your DTI is 1.78, which means that you owe 1.78 times your earnings.

What To Consider When Buying a House

Your length of stay is one of the factors you need to consider when buying a house. Think about if your decision to stay for an extended period is more economical compared to renting. Every housing market is also different, depending on your location. It's essential to consider your future plans before deciding to buy a home.


You should also take into consideration the economy to which job security is heavily dependent on. You must have a stable job when you buy a property because getting a mortgage is a long-term commitment. Before committing to anything, make sure you have job security. Otherwise, you might end up in bigger debt if you fail to meet your monthly repayments.


Mortgage rates can also heavily affect your ability to pay for your home loan. They can fluctuate, depending on the housing market status. With a reliable property agent, you’ll know how the housing market goes and see if it'll affect your mortgage rates when you decide to look at homes for sale.

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