Considerations when Buying a House
Buying a house (whether you are a first-time home buyer or not) can be a very exciting, but that doesn’t mean it’s not stressful. This is where you’ll spend your time, build your life, and make memories with your family. This will probably be the largest purchase you’ll ever make. Before jumping into this adventure there are some things you might want to take into consideration.
Take the time and do your homework. Decide what you can afford and what your family’s needs are for this new house. A good rule of thumb is to sit down and figure out your assets and your debts and visit a financial institution to get pre-approved for the mortgage you are looking for. Once you have been pre-approved and have a budget in place, you can start doing your research. Look at what neighbourhoods you would most like to be in and what each of them has to offer to you. Make a list of your “must-haves” when it comes to your home and what you would like but can live without. It is very important that when looking at houses you stay within your budget. You don’t want to find your dream home, with all the bells and whistles, to find out it can never become a reality. If you put yourself in that situation you will always be comparing other houses to the “one” and it could take a very long time to get into a home you love.
Be sure to include closing costs when thinking about your new home expenses. Closing costs include things like lawyer’s fees, land transfer costs, and moving costs which can add up to at least between 1% and 2% of the cost of the house. Be sure that you are prepared and have extra funds available for any surprises that may pop up.
Don’t settle! You may be many weeks, or even months into your search and still can’t find the perfect home for you. A good idea is to take a break from the house hunting and start up again in a month or so. Buying a home just because you think it is the only house you are going to find will end up leaving you with buyer’s remorse.
When you’re ready to put an offer in, be sure that your real estate professional includes all relevant and important clauses. Your protection should be of utmost priority. A good agent will never rush through paperwork just to close a deal.
If you feel that you are ready, let the house hunting begin!
Today’s real estate industry is constantly evolving. Luc is committed to staying ahead
of the trends so his clients can acquire top dollar on the sale of their homes.
If you’re thinking about selling, call Luc Trahan, the Real Estate Man. (705) 818 1888