Buying a home can be a dream for many, and when this dream is on the verge of becoming a reality, many people get so excited that they forget to pay attention to some essential things. On average, the age of first time home buyers in Canada is 33 years, a pretty young age.
We have created a checklist for you to keep in mind all the things that you must consider when buying a new home.
Know Your Finances
You should make sure that you have a clear account of your finances. Get your credit report copies. Ensure the numbers are right and address any discrepancies you might find in it. Then, find an appropriate loan provider and get a loan pre-approved. It will allow you to be in better standing when you are looking to buy the right house.
Not just this, you should know that buying the house is not the end of the expenses. If you are planning to shift or give it on rent, you will need to make some repairs or changes in the house. If you are going to live there yourself, you might need to get the furniture.
Hire a Professional
A realtor can make or break your house buying deal. Make sure that you hire a professional realtor since they know things about the market that you can never know. They are well aware of the rates. When the price will fall, and they may be able to find you a place that meets all your requirements. Realtor's bargaining skills are unmatchable, and no matter how much internet you browse, knowing the real estate market as a realtor does is close to impossible.
Do Your Homework.
Do some research before making a bid to assess the overall state of the real estate market. Is it safer for sellers or buyers? Next, look at the sales trends in the area or neighborhood of similar homes. Look at the last few months ' prices. Try coming up with a favorable but also practical bidding price. Otherwise, your seller may end up ticking off.
Even if you have a professional realtor, it is essential to know some things by yourself.
We often overlook what we need for our well-being. Many people may end up buying a house in a noisy place just because they were getting a good deal. But ask yourself, would you be in peace living at such a home?
Have a list of non-negotiables. This list will help you find a place that will give you peace of mind so you can enjoy living in your home. Do not go for any place that might take away the essence of a home.
Think Long Term
Buying a house is a long-term commitment since you cannot change your home every month. You should look around to see what places are essential for you. Does the neighborhood have good schools? Churches? Grocery stores? Dry cleaners? Even if these places do not hold importance to you, it will affect the resale value of your house in the future. You should hire your home inspector when it comes to the house itself, who can point out possible issues that may require expensive repairs in the future.
Buying a home may give you an adrenaline rush, but stay calm and remember these tips to make your home buying experience incredible.
Any other questions, contact Paul Eviston - vancouver top realtor.