First-home buyer

PHOTO: Keelan Clark bought his 3-bedroom Mangere home for just over $800,000 at age 23. As a first-home buyer, confidence is key, he says. Photo credit: Supplied.

Having bought his first home at the age of 23, an Auckland man says a combination of good timing, research and confidence helped to get his offer accepted.

For Auckland-based loan writer Keelan Clark, buying a first home wasn’t a matter of if, but when. At 14, he started working part-time. Encouraged by his parents, who worked as bankers, he started saving and investing from an early age.

first home buyers

First Home Buyers: Dominating a changing market | CoreLogic

After two years of searching, and reviewing documents for over 170 houses, in September, Clark became the owner of a three-bedroom home in Mangere. He paid just over $800,000.

In June, Clark noticed the house, which was for sale by negotiation sitting on the market. The real estate agent told him a week earlier, the seller had turned down an offer close to $900,000.

Having done his research, Clark made a snap decision to put an offer in on the spot. It was conditional on him viewing the house and getting finance approved, as his lender did not provide a blanket pre-approval.

“I knew if I couldn’t get the loan, I could pull out and if I went and saw the house and it was full of holes, I could say it wasn’t to my satisfaction,” Clark told Newshub.

Researching what similar houses in the area were selling for allowed him to back up his offer with examples. He also mentioned the work required to bring the house up to scratch.

first home

‘We lived like peasants’ – Dunedin couple snaps up first home

READ MORE VIA NEWSHUB

View this post on Instagram

A post shared by Property Noise (@propertynoisenz)

MOST POPULAR