Secrets of Savvy House Hunters
Buying, building, or selling a home can be an overwhelming process, whether it’s your first time or your fifth. Experienced home buyers know that there’s more to look for than a good neighbourhood and a sturdy foundation. They shop with their hearts, their heads, and with the expert advice of a real estate professional. Hiring a realtor you can trust can make a world of difference. But before you get caught up in the excitement of building or searching for the perfect home, here are some savvy tips straight from the experts to get you started.
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1. Know How Much You Want to Spend
Don’t get caught in that trap of finding a perfect home that you can’t afford. Do your homework and define your budget. Get a pre-approved mortgage or consult with your lender of choice. Remember that just because you’re approved for a high real estate loan, it may not be the right long-term choice for you or your family to buy at the top of your budget. The real estate market ebbs and flows, keeping your eye on any changes could influence your home building, buying, and selling process.
2. Scope Out the Neighbourhoods
This tip goes hand and hand with our first piece of advice: the town and neighbourhood you choose can greatly influence not just your expenses, but your long-term happiness. Before you start looking at individual homes, figure out which neighbourhoods you would prefer to live in. How close are schools? Stores? Access to highways and public transit? These all influence how easily you’ll settle into your new home and community. The common areas in a community, like parks and playgrounds, can also say a lot about how the residents feel about their neighbourhood. Look for tell-tale signs of neglect or proud upkeep. Your Real Estate Agent can also let you know how well certain neighbourhoods are selling, which is a good indicator of where people want to live.
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3. Make a List
Smart shoppers never head to the grocery store without a list, and neither should you when you search the real estate market or head out to an open house. Organize your thoughts and come up with a list outlining what you need in a new home, what you’d like to have in a dream home, dealbreakers, and what you can functionally and financially achieve. house wish list that you can refer to. For example, a good school district might be a need, while marble countertops might only be a want for your dream home. Carry this list with you so that you can compare homes on the basis of your personal wants and needs. Having this list makes it much easier for your Real Estate Agent to find your perfect home, not bad for a few minutes of dreaming.
4. Find a Home Inspector
Even before you locate your ideal home, have a home inspector that you trust at the ready. They may even be able to offer you some pointers for things to look out for when you first start looking at properties. Not only does this make the searching and buying process faster and easier, it means a lot fewer unfortunate surprises after you’ve closed the deal. Settle in and sleep easy in your new home, ask your realtor to refer you to a respected home inspector in your community.
5. Take Your Time
The real estate market changes with the tides, don’t let temporary lows or highs rush you into an even more stressful position. Similarly, don’t try to squeeze more than four viewings into a single day. Even with a list of your home needs and wants, it can be more confusing than convenient. Make sure to take photos and notes of the pros and cons of each property after viewing. This will help you compare when looking at the next homes and prevent your memory from glossing over the details when considering a property down the line.
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6. Don’t Forget Local Laws and Regulations
It may not be as glamorous as planning your dream home, but forgetting to check up of local laws and regulations before moving in can turn your dream home into a living nightmare. Be sure to research and ask your realtor about mutual driveways, parking, zoning bylaws and upcoming construction. You may be in a neighbourhood that is about to be receiving power line upgrades or road repairs that can wreak havoc after you move in. Ask for a survey of the property and take a good look at it. Fences may not be on actual property lines and right-of-way issues may come into play if your neighbours decide to move and find their own dream home. Don’t just rely on your judgement; hire a lawyer to inspect all of the paperwork related to a prospective purchase.
7. Think it Through and Get a Second Opinion
If you’ve found a home that really appeals to you, show it to someone you can trust to be honest with you. These friends, family members, or professionals might see something you hadn’t noticed. Having someone who isn’t personally vested in the property can give you the objective opinion you need before you make your decision. Finally, try to give yourself some time before making an offer, relying on impulse is risky business.
Find your dream home without risking home-buyer’s remorse. Follow the advice above and work with a skilled real estate professional so that you can rest easier during your home building, buying, and selling process. To learn more about this and other related home and real estate topics, explore our blog or contact us. We are never too busy for your questions.