Banjo Smyth

Congratulations! You have bought your first house and now you’re simply waiting for the property settlement period to end. So what should you do? Sit around and be happy with yourself? Definitely not! Now is the perfect time to organize everything that needs to be done to the property before you start paying the mortgage.

The best thing about the Property settlement period is that you will be so excited that it will be a joy to ‘plan out’ what you are going to do. Make a list of all the revamps/renovations that you would like to achieve and see if there is anything that you can arrange before settlement occurs. For instance if you are going to get the floors polished, why don’t you get some quotes and set an actual date for the selected workers to start. Tradesmen are so busy these days that you often need to book them a few months in advance anyway. If you contact the Real Estate agent they will be more than happy to give you access to your property for any number of reasons. Don’t think that you can’t visit the house during the property settlement period. Just call the Real Estate agent and they should always be able to help you out.

Whether you are planning on doing some renovations or renting the property straight away it is vital that you use the property settlement period to your advantage. The last thing you want is to be paying the mortgage whilst you wait for a tradesman to polish your floors or whilst your looking for a tenant. If you use the property settlement period wisely and effectively everything that follows will be ten times easier – and remember

“by failing to prepare, you are preparing to fail”

Benjamin Franklin