Top tips for first home buyers purchasing property, such as if house will sell over listed price

A real estate agent has revealed her top tips for buying property as sea changers drive up prices in suburban and rural areas.

Sammi Russo, a self-described ‘high-energy’ agent from the tiny Victorian town of Nagambie, said it was important for buyers to stick to their budgets. 

‘My biggest advice would be when you’re jumping on real estate.com is to add in all your filters in the app and on the website,’ she told Daily Mail Australia.

‘Don’t go over your personal limit, don’t jump too high into debt.’    

Because of the increased demand in some markets, buyers should consider looking at less desirable properties rather than taking on a mortgage they can’t afford.  

The agent said people moving away from cities was pushing up sales in regional towns and causing homeowners to increase auction reserves above the listed price.  

‘If they (homeowners) do get 60 people through each open home they’re more than likely going to bump up their reserves,’ she told Daily Mail Australia.  

Ms Russo also said many buyers miss out on their dream homes because they don’t build a relationship with the agent or wait too long to respond to calls and emails. 

‘I also see a lot of people miss out on the home because they’ve never contacted the agent back,’ she said.

‘I’ll take them through on a Monday. I ring them the next day … and they don’t answer my call, they don’t return my emails and then the ring me on a Friday and say yes we want to make an offer.

‘Whereas I’ve already spoken to someone the day before who wants to make an offer, it’s accepted and we’re doing contracts.’ 

The real estate agent said it was important to be prepared for a house to sell at an auction for more than the price guide listed by the agent. 

‘We as agents have to have comparable sales around the vicinity of the home to justify our reasoning for that price guide, but its up to the owner at the end of the day,’ she explained.  

Ms Russo’s other top tips for home buyers include making sure finance is pre-approved, doing a thorough building inspection and checking for first home buyer incentives and any stimulus offered by local councils.