A Simplified Guide To Buying Your New Home

A Simplified Guide To Buying Your New Home

Congratulations!
Making the decision to buy a new home is your first step to homeownership. This is an exciting road to embark on however it can seem a little confusing and difficult at times, especially if this is your first time shopping for a new home. Good news – we’d like to make this process easier for you! We want your hard-earned dollars to go towards the home of your dreams, so we’ve creating this list of tips for you to follow.

Here’s our simplified guide to buying your new home:

1. Create A List Of What You Need & What You Want

When shopping for a new home, you need to know what you’re shopping for! Create a list identifying your needs (what you cannot do without) and your wants (desirable extras). This should also include a list of desirable areas; places you’d prefer to live. Your final list will help ensure you don’t settle for less than you need.

2. Get Pre-Approved

Don’t start shopping until you know what you can actually afford! Pre-approval also allows sellers to view you as a serious buyer since you’ve already been approved for a mortgage. Important tip: Remember to take all other associated costs into consideration – Realtor fees (if you decide to use a Realtor), moving fees, lawyer fees, etc.

3. Find Your Realtor or Developer

With the rise of boutique developers, you’re now blessed with the decision to work with a Realtor, or without one. Developers use their own sales centres to market and sell their homes, making the process easier for buyers. However, if you feel more comfortable using a Realtor, we feel that you should do so! Seek out a Realtor that works well for you; one that takes the time to listen to your needs and wants and one that you actually enjoy working with. Ask your friends about their experiences working with Realtors and see if they have any recommendations. Word of mouth referrals often lead to the best decisions ;) This is also relevant for developers; if you’re seeking an apartment, condo, or townhome, you’ll want to go with a developer that is willing to work with you and provides you with all the needs you’re seeking in your new home. Research their past and present projects and don’t hesitate to ask questions – this is a big decision.

4. Shop Around

Devise a list of potential homes in your desired neighbourhoods. Remember to shop around to ensure you’re not settling for less. A good tip: follow your gut! If something looks good, meets your needs, and also makes you feel like you’ve come home… you’ve found the one!

5. Inspect (for older homes)

Think you’ve found the one? Make sure you have the home looked at by a qualified home inspector. They’ll inspect all areas of the house and provide you with a list of repairs needed (if needed) and their estimated costs.

6. Offer & Closing

Are you ready? Now’s the time to put down your offer! Create a realistic offer that includes Terms & Conditions that work for you! If you’re working with a Realtor, have them represent you during the time of offer so that you receive the best possible outcome. If you’re creating your own offer with a developer, don’t hesitate to state your needs. Development company sales representatives are there to help you find the home of your dreams and ensure you receive it at a price you can afford.

We hope this guide helps you with your journey to home-ownership!

Still seeking more information? Contact us at our office and set up an appointment to speak with one of our experienced sales representatives: 604.207.4633