How to Prepare Yourself for an Open House as a Buyer

Attending an open house is a great way to explore a potential new home, giving you the chance to imagine yourself living in the space while assessing whether the property fits your needs and lifestyle.

To ensure your open house visit as a buyer goes smoothly, here are some handy tips to help you prepare for your first open house experience:

1. Research the property beforehand

Before showing up to an open house, it’s important to do some research on the property and its surrounding area.

Familiarise yourself with the property’s features and floor plan, research the neighbourhood to learn about nearby amenities, facilities and services, and take a look at prices for similar properties in the area.

Having this information to hand before attending the open house can help you decide whether the property is likely to be a good fit for your needs and lifestyle.

2. Set a budget

Establishing a clear budget before attending an open house is a crucial consideration.

In order to determine how much you can afford to spend on a property, take into account factors such as your income, expenses, savings, and borrowing capacity - and remember to consider both the upfront and ongoing costs of home ownership.

Having a realistic budget in mind will guide your property search and help you identify suitable options within your price range.

3. Make a checklist

Put pen to paper and create a checklist of all the features and criteria that are important to you and your family in a home.

This could cover everything from the number of bedrooms and bathrooms to the size of the backyard, proximity to certain amenities, and specific must-have features.

Take your checklist with you to the open house so you can assess whether the property actually meets your requirements.

4. Prepare some questions

Think about the information you’d like to obtain from the selling agent or homeowner during the open house and write these down as a reference.

For example, you might want to ask about the property’s condition, maintenance history, age of appliances, recent renovations, zoning regulations, and any other relevant details.

Asking these kinds of questions will help provide you with valuable insights that can help you make an informed decision.

‍5. Arrive on time

Arriving at the property promptly will allow you to beat the crowds and give you more time to explore the property at your own pace.

Give yourself ample time to find the property and locate a parking space to avoid feeling rushed or pressured before your arrival.

While it’s a good idea to get to the open house slightly in advance of the scheduled time, don’t turn up too early as the agent or homeowner may not be ready to show you around.

6. Bring essential items

Think about what you might need to have with you at the open house and have these items ready to bring.

This might include a notepad and pen, a fully charged phone for taking photos or videos, and a measuring tape to check room dimensions or furniture space. 

While you may think you’ll remember all the details of the property, it’s surprisingly easy to forget key features once you’ve left - so come prepared with what you need to record important information.

7. Be respectful

When attending an open house, remember that you’re entering somebody’s home and should treat both indoor and outdoor areas with care and respect.

Follow any instructions and guidelines provided by the agent or homeowner, and avoid touching or handling personal belongings and furniture unless given permission.

Take care to close doors and gates behind you and leave the property in the same condition as you found it.

8. Take your time

During the open house, give yourself ample time to thoroughly explore the property - after all, deciding if it’s the right place for you is a hugely important decision.

Pay attention to details such as the layout, natural light and ventilation, storage space, and overall condition of the property.

As you walk through the home, imagine yourself living in the space and consider how well it fits with your lifestyle and needs.

9. Follow up

Attended the open house and are interested in the property? Great! The next step is to follow up with the agent.

Think about any additional questions you may have to better understand the property and be ready to make an offer once you have all the information you need.

You can also request a copy of the contract of sale and any other relevant documents to review in more detail.

By following these tips and being prepared for an open house, you can get the most out of your visit and gather valuable insights to inform your home-buying decision. Remember to trust your instincts and take your time viewing each property to find the perfect place to call home.

Keen to learn more about home-buying process? Check out our other articles and stay in the know about all things home loans.

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.

Unloan is a division of Commonwealth Bank of Australia.

‍Applications are subject to credit approval; satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000.

‍Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

‍There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.

* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.