Buying a home is a big decision, whether it's your first or your fifth – maybe even the biggest you'll ever make in your lifetime. It takes a lot of research and more than a little bit of luck to make sure the house you put your name on is exactly what you're hoping for.

If you're on the hunt for your dream home, you're likely looking for advice from any source you can get. To give you a bit of an edge, there's no one better to learn from than an experienced realtor who not only sells houses but also specialises in real estate investment.

Enter Lorraine Jordan – a real estate agent with over 34 years of experience and more than 10,000 homes under her belt. As a self-made multi-millionaire and savvy investor, Lorraine has seen the best and worst of homebuyers (and sellers).

But more than that, she's seen the trends in the market and what it takes to make money in real estate.

Lorraine kindly shared her top five house-hunting tips that every single homebuyer should know.

A real estate mogul who has sold 10,000 homes has revealed the five things every potential buyer should know. Credit: Unsplash/tierramallorca.

So, if you're thinking of investing in your first home or taking the plunge and buying your dream home, take some advice from Lorraine now, and you'll be saving yourself some mental (and emotional) headaches later on!

1. Attention to detail: Watch out for fresh paint marks

According to Lorraine, it's the small details that reveal the most when inspecting a potential property. She explains, 'It's the little missing things that you need to worry about.'

For example, fresh paint marks may be an attempt to cover up more significant issues, such as water damage. She advises potential buyers to check the carpet, windows, and roof for any signs of trouble.

2. Keep your emotions in check: Think of a home as a practical investment

While it's natural to be emotionally attached when searching for your dream home, Lorraine stresses that the key is to look at it as a practical investment instead. She says, 'People end up paying more money because it's storybook-looking, rather than looking at all the practical stuff.' It's essential to prioritise function over form and not let emotions cloud your judgement.

3. Don't be distracted by glitz and glamour: Stay on the lookout for hidden problems

Lorraine warns potential buyers not to be swayed by a property's attractive appearance alone. Even in high-quality renovations, she advises to remain vigilant for any issues.

She shares an example of a beautiful deck that didn't meet building code requirements due to the absence of council approval. Don't be blinded by the polish; keep an eye out for indications of cutting corners.

4. Timing is crucial: Buy, sell, and view a home in autumn or winter

Contrary to popular belief, Lorraine explains that selling and buying a home during the autumn and winter months can be advantageous due to less competition. She also notes that serious buyers are more likely to view homes in the evenings, making 8 pm a prime time for viewings.

5. Furniture or no furniture? Steer clear of purchasing a home without staging furniture

Lorraine reveals that a home without staging furniture can be a red flag, as empty rooms can appear smaller than they are. Properly staged properties not only provide a better sense of space but also give off a 'warm, homely feeling'. It's essential to see the potential of a home, and staging furniture helps achieve that.

For anyone keen to get into the property business themselves, Lorraine offers some additional advice. Credit: Pixabay/Pexels.

For those keen to dive into property investing, Lorraine advises moving around and taking a gradual approach. She suggests spending a year at each property fixing it up and moving on to the next.

By steadily building your real estate and rental portfolio, you can eventually replace your daily income, giving you the freedom to choose how you spend your time.

Key Takeaways

• Lorraine Jordan, a seasoned realtor with over 10,000 homes sold, shares her top tips and tricks for property investment.
• She advises potential buyers to thoroughly inspect homes for small details that may indicate larger issues and not to be swayed by their emotions when purchasing a property.
• Homebuyers should remain vigilant for potential problems even in well-renovated properties and consider buying or selling during autumn and winter months for less competition.
• Buyers should avoid purchasing homes without staging furniture, as it helps with spatial visualisation and a better understanding of the property's potential.

These insider tips serve as an invaluable guide for our savvy members looking to make wise property investments. Keep emotions in check, focus on practical aspects, and always pay attention to details. Happy house hunting!

Have you thought about moving out and finding a new place lately? Any other tips or advice you can share with us when it comes to searching for a new home? Drop a comment below, we're all ears!

 

[Liz49]

Buying a home is a big decision, whether it's your first or your fifth – maybe even the biggest you'll ever make in your lifetime. It takes a lot of research and more than a little bit of luck to make sure the house you put your name on is exactly what you're hoping for.

If you're on the hunt for your dream home, you're likely looking for advice from any source you can get. To give you a bit of an edge, there's no one better to learn from than an experienced realtor who not only sells houses but also specialises in real estate investment.

Enter Lorraine Jordan – a real estate agent with over 34 years of experience and more than 10,000 homes under her belt. As a self-made multi-millionaire and savvy investor, Lorraine has seen the best and worst of homebuyers (and sellers).

But more than that, she's seen the trends in the market and what it takes to make money in real estate.

Lorraine kindly shared her top five house-hunting tips that every single homebuyer should know.

View attachment 21252

A real estate mogul who has sold 10,000 homes has revealed the five things every potential buyer should know. Credit: Unsplash/tierramallorca.

So, if you're thinking of investing in your first home or taking the plunge and buying your dream home, take some advice from Lorraine now, and you'll be saving yourself some mental (and emotional) headaches later on!

1. Attention to detail: Watch out for fresh paint marks

According to Lorraine, it's the small details that reveal the most when inspecting a potential property. She explains, 'It's the little missing things that you need to worry about.'

For example, fresh paint marks may be an attempt to cover up more significant issues, such as water damage. She advises potential buyers to check the carpet, windows, and roof for any signs of trouble.

2. Keep your emotions in check: Think of a home as a practical investment

While it's natural to be emotionally attached when searching for your dream home, Lorraine stresses that the key is to look at it as a practical investment instead. She says, 'People end up paying more money because it's storybook-looking, rather than looking at all the practical stuff.' It's essential to prioritise function over form and not let emotions cloud your judgement.

3. Don't be distracted by glitz and glamour: Stay on the lookout for hidden problems

Lorraine warns potential buyers not to be swayed by a property's attractive appearance alone. Even in high-quality renovations, she advises to remain vigilant for any issues.

She shares an example of a beautiful deck that didn't meet building code requirements due to the absence of council approval. Don't be blinded by the polish; keep an eye out for indications of cutting corners.

4. Timing is crucial: Buy, sell, and view a home in autumn or winter

Contrary to popular belief, Lorraine explains that selling and buying a home during the autumn and winter months can be advantageous due to less competition. She also notes that serious buyers are more likely to view homes in the evenings, making 8 pm a prime time for viewings.

5. Furniture or no furniture? Steer clear of purchasing a home without staging furniture

Lorraine reveals that a home without staging furniture can be a red flag, as empty rooms can appear smaller than they are. Properly staged properties not only provide a better sense of space but also give off a 'warm, homely feeling'. It's essential to see the potential of a home, and staging furniture helps achieve that.

View attachment 21253

For anyone keen to get into the property business themselves, Lorraine offers some additional advice. Credit: Pixabay/Pexels.

For those keen to dive into property investing, Lorraine advises moving around and taking a gradual approach. She suggests spending a year at each property fixing it up and moving on to the next.

By steadily building your real estate and rental portfolio, you can eventually replace your daily income, giving you the freedom to choose how you spend your time.

Key Takeaways

• Lorraine Jordan, a seasoned realtor with over 10,000 homes sold, shares her top tips and tricks for property investment.
• She advises potential buyers to thoroughly inspect homes for small details that may indicate larger issues and not to be swayed by their emotions when purchasing a property.
• Homebuyers should remain vigilant for potential problems even in well-renovated properties and consider buying or selling during autumn and winter months for less competition.
• Buyers should avoid purchasing homes without staging furniture, as it helps with spatial visualisation and a better understanding of the property's potential.

These insider tips serve as an invaluable guide for our savvy members looking to make wise property investments. Keep emotions in check, focus on practical aspects, and always pay attention to details. Happy house hunting!

Have you thought about moving out and finding a new place lately? Any other tips or advice you can share with us when it comes to searching for a new home? Drop a comment below, we're all ears!

I do not think staging is necessary. If you do it correctly the furniture you own can give most prospective buyer an idea of what will and won't fit into a room. Always question the bed size if only looking at photos. A room can look big but if the bed is only a double and the bedside tables are close to the wall on either side it may tell you the room won't fit a queen bed. Look at the size of the TV. That can give you hints on how long the wall is. Look for cooktops that are between cupboards. Sometimes there is no room to put anything beside the cook top. This can be a risk for burns if you have to carry cooked food to another area.

 

[mylittletibbies]

I do not think staging is necessary. If you do it correctly the furniture you own can give most prospective buyer an idea of what will and won't fit into a room. Always question the bed size if only looking at photos. A room can look big but if the bed is only a double and the bedside tables are close to the wall on either side it may tell you the room won't fit a queen bed. Look at the size of the TV. That can give you hints on how long the wall is. Look for cooktops that are between cupboards. Sometimes there is no room to put anything beside the cook top. This can be a risk for burns if you have to carry cooked food to another area.

I agree with all the statements you have made, except one, and that is regarding staging.
My husband and I have flipped over 20 homes in the past, retired now, and anyone in the real estate game will tell you that a well staged home will more than triple the cost of the staging in the return you get.
People buy with their eye first, followed by their heart and then their head in most cases.Obviously not wise but that's the way it is.
I always sold our properties myself and recently sold my son's property for him. It took me a lot of persuasion to talk him into staging, in fact I paid for it myself initially, to prove my point.
I sold the property the first day,.for $35,000 more than the highest appraisal they received, also saving him the real estate agents commission.
Presentation is everything.