With house price indicators like the oobarometer perking up, buyers are slowly returning to the market and need to be armed with knowledge about how to make the best purchase possible.

So says Ben Seymour-Brown, manager of group direct sales at ooba. "We expect more people to return to the property market this year and certainly next year, as the economy recovers, the effect of lower interest rates is felt and confidence returns to bricks and mortar investment.

"Even though buying a home is fundamental to wealth creation, it is one of the biggest purchases most people are likely to make and they need to be well informed."

Seymour-Brown says ooba has the following tips for first-time home buyers:

1. Location, location, location
Remember that one of the most important aspects of a home's value is the area it's in. Research the area and check out transport links as well as schools. If your favourite area is too pricey, buy in an adjoining area. Buying a home that needs some work is another option as this can be done over time.

2. Budget
Before you start looking at properties, calculate how much you can actually afford. Experienced originators can guide you through the mass of paperwork and the requirements of the National Credit Act to work out what you can afford. ooba advises buyers to get pre-approved for a home loan so you know exactly what you can afford before you start the hunt.

3. Property wish list
Before you start looking for a property make a list of everything you want and need in a home. Use this as a base guide when hunting for properties to help focus your search. Property listings' websites allow you to select detailed criteria and create a shortlist of properties you're interested in.

4. Choosing a mortgage
Although some banks have eased their lending criteria and will again offer 100% home loans, for more high priced properties you'll need a deposit. Originators work with all the banks and will source the cheapest form of finance for you.

5. Estate agents
A good estate agent can access invaluable market information and advise you about new properties on the market as well as pricing information. Ask family and friends for referrals and seek someone who is well connected, who understands your needs and has experience with homes in your area and price range. Working with a good agent will make the search process much easier.

6. See what's available
A great place to start your search is online where you can find properties listed nationwide by SA's top agents. Information such as the suburb, photos and number of bedrooms and bathrooms is available. It is also worth looking through the local newspapers for the latest listings in your chosen area.

7. Viewing
As viewings do not usually last long, take a checklist with you outlining what you should be looking for and what you should be asking. Take a tape measure to ensure your stuff will fit and check the property for any problems and repair work that needs doing. It's also a great idea to write down your impressions as once you've done numerous viewings, they'll tend to blur into one.

8. Making an offer
Don't be afraid to put in an offer lower than the asking price as it's still a buyers' market - and particularly if the property has been on the market for a while. You can gauge how fair an asking price is by comparing it with recent sales in the area or purchasing a property valuation report for an instant valuation. A good agent will be able to show you the recent sales in the area which will be a useful benchmark. Both can be good tools for negotiation.

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