Whether you are looking for your first home or are a seasoned buyer, these 5 tips are important things you must keep in mind when making your next purchase. They could mean the difference between putting thousands in YOUR pocket or in someone else’s!
1. Location, location, location. Your lifestyle plays a key role in choosing the location of your next home. You should consider how important is it to you that your home is close to you or your families work. Is it more important to be close to a good medical center or a convenient grocery store? Is it important to be close to certain schools or parks? When choosing a home you have to consider your family's needs when thinking about location. Sometimes the location alone can make for an easier decision where to look.
2. The House. Does the house have enough room to fit your growing family? Will it be the right type of home for your lifestyle in the next few years? Does the floor plan meet your needs? When buying, it is important to think in the long term and consider whether the house meets your needs, not just now, but any future needs you can anticipate. And don't discount your gut feeling. If a particular house doesn't feel like home to you, then keep looking.
3. Affordability. Getting pre-qualified for a mortgage before you begin visiting homes is the best way to know what you can afford. People often fall into the trap of looking first, and falling in love with a home that's well out of their price range. Only look in whatever price range you can pre-qualify for. Having your financing in order and knowing what you can afford also helps out when going into negotiate the price of the home.
4. Resale. This relates to #2. As much as you like the idea of seeing you and your family growing old and gray in your new home, chances are you won't. The average Canadian moves every 5-7 years. When home shopping, keep in mind that at some point you will probably want to put your home on the market, so don't compromise. If you decide a house has some aspect that you can overlook, you need to be aware that someone else may not feel the same way. When home shopping, choose a house that is not only appealing to you, but is also likely going to appeal to others down the road.
5. Don't Miss Out. Make an offer once you've found THE ONE. Don't lose a home that you really like because you are waiting for the perfect one or the perfect deal. This also comes in when negotiating the price of the home. Don’t let your dream home slip away over the price of a couple of thousand dollars. Don’t let the right home slip away, it’s more likely that you'll regret not making an offer on THE ONE then regret buying it.
When buying your next home, be sure you are prepared ahead of time. Make sure you have the long term picture in mind and that your agent is on the same page as you. Don’t just buy based on emotion, ensure you are making the right choice and when you find it, you will know! Stay positive and happy shopping!
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