Not checking out things such as council zoning, building approvals and restrictive covenants. Your solicitor or conveyancer can do this on your behalf and it can mean avoiding a costly mistake buying a home that proves to be a disappointing purchase.
Buying a ‘do-up’ and then running out of money. Renovation is not a cast-iron route to riches, and if it turns out to cost more than you bargained for, you could face incomplete renovations or find yourself under serious financial stress. If a property requires major renovation work, take a qualified builder you know and trust to inspect the place, and ask for a quote on the likely cost of work required to be completed.
Forgetting to sort out property insurance well before you move in, and neglecting to tell utility companies or other bodies such as your bank, superannuation fund and motor vehicle registration authority about your change of address.
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