Purchasing your first home is one of the biggest and best choices you will ever make. After all, a home is one of the largest - and most emotional - investments many will face in their lifetime.
There's never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances. So start looking at different options, know that you don't have to know everything.
When you're looking for a real estate professional to help you, know that good agents always put their clients first. This is your dream, and your agent’s only goal should be to help you make your dream come true.
A great real estate agent will:
• Educate you about the current conditions of the market.
• Analyze what you want and need in your next home.
• Guide you to homes that fit within your criteria and budget.
• Negotiate on your behalf to get you the best deal possible.
• Inform and discuss with you, and suggest solutions to solve any problems that may arise.
To make the financing process as painless as possible, ask your agent to introduce you to the preferred financing consultant. This professional will work with you and your agent to make sure your purchasing process is as smooth as possible.
The consultant will:
• Review your current financials.
• Discuss the options available to you during the home purchasing process.
• Guide you to an appropriate price point.
• Negotiate on your behalf to get you the best deal - price, interest rates, loan approval.
• Keep you informed and updated on the entire financial process throughout your purchase.
You’re ready to begin your search, but it can become overwhelming and confusing. We will help you more accurately pinpoint homes that fit your criteria. The right home should meet all your important needs, and as many of your additional wants as possible.
Some questions you might ask yourself include:
• What amenities are crucial for you and your family?
• How much space do you need and why?
• How important is home value appreciation?
• Is neighbourhood stability a priority?
• Is accessibility to main routes a priority?
Once you've found a home you love, the next step is deciding on a price. It's important to remember that a home is an investment. Look to your agent to explain and guide you through the offer process.
Remember to consider:
• List price - Start with the price point that the home is listed at. This will give you a base when looking at the home's value.
• Market Analysis - Your agent will give you an idea of comparable home values in the neighbourhood to help you decide if the price point is on par.
• Improvements - Your agent can give you a list of improvements made to the home and help you determine its market value.
Your agent will provide you with improvements and challenges within your home. This way you'll know what you are getting into before you complete the purchase.
Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction.
Once you've determined a price point you're comfortable with, you’re almost there! But in order to ensure that you don't put the property purchase at risk, you should keep in mind:
Stay in control of your credit and finances - Don't make any large purchases during this time. It's important to keep your financials steady throughout the buying process.
Keep in touch with your agent and financial consultant - It's important to stay in constant communication with your agent and financial guide during this process. Don't be afraid to ask questions. Your team is there to help you.
Welcome home! The home-buying process is complete, which means it's time for your maintenance plan! It's now your responsibility, and in your best financial interest, to protect your investment for years to come. Performing routine maintenance on your home's systems is always more affordable than having to fix big problems later.
And remember, just because the sale is complete, your relationship with your agent doesn't need to end! After you buy, your agent can still help you - providing information on the real estate market, finding contractors and repair services, and even tracking your home's current value.