5 Must Know Tips When Looking for Your Dream Home

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5 Must Know Tips When Looking For Your Dream Home

Now is a great time to buy a home as there are still quite a few competitively priced homes on the market and interest rates remain low.  Whether you’re a first time buyer or an investor the tips outlined in this post will help you find a home easier.

  1. Make Sure Your Financing is in Order

Before you start searching for a home have a look at your finances. Ensuring your finances are in order will make the process so much easier, as you’ll know what you can afford. This figure will become the anchor of your search. To prepare your finances, save for your down payment and speak to a loan officer. You’ll need to be pre-approved so you know what mortgage you qualify for as well as what your mortgage repayments will be.

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  1. Start Looking Now

Buying a home isn’t a spur of the moment purchase, it takes time, more time than a first time buyer may realize. The difference between the amount it takes to find a property you want to buy vs one you want to rent is substantial. Buying a property can take upwards of a few months, and that’s even after you’ve found the right home. Purchasing a property that’s been foreclosed for example can lead to a very drawn out process since you’re dealing with a bank and not a willing seller.

  1. Get Help

There are many homes on the market and searching through all of this “stock” can be intimidating. If you contact a real estate professional, however, you’ll have an extra set of eyes and someone who knows how to navigate the market. You’ll even have someone there to alert you when home’s in your price range go on the market.

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  1. Don’t Settle for the First Place You See

House hunting is a bit like shopping, sometimes you’ll love an item in the store but when you bring it home you realize it wasn’t such a great purchase. For that reason reputable real estate agents encourage their clients to think about their purchases carefully. You need to be sure that the home you bid on is the one you’ll want and is one that meets your needs, that’s why it pays to have a housing checklist. Once you’re 100% sure place your bid.

  1. Weigh the Pros and Cons

Very few homes are sold in a condition that meets a buyer’s standards. After all, they will be living in it for much longer. When you’re attending a viewing be sure to look past cosmetic enhancements to see if there’s any work you’d need to do to make the property livable for you. If you do like a home that may need some repairs or renovations calculate how much these will cost. Once you do that weigh up if you really think the home is worth it with all the renovations and repairs that need to be done.

If you’re looking for a professional real estate agent to help you find your perfect home I’m always here to help. Click here to find out about our services.

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