Steps to Buying your Home
- Admin
- Apr 1, 2018
- 3 min read
Buying a house
Buying a house is a process with many things to consider. For most it is there biggest investment.
For most people purchasing a home may happen two or three times in their lifetime and it is understandable that home buyers may not be adept and knowing the ropes of buying a home.
But luckily, their agent should be. A good agent will help guide a home buyer through the process.
Finding the right focus
The first thing to do is talk to your lender and find out just how much you can afford. Knowing what you can afford helps define your search and find the best house for your budget.
(If you don’t want to talk with a lender, at least take advantage of an online calculator).
Mortgage Calculator
Do not call the listing agent
Buyer Agency isn’t a new thing anymore, but many buyers still don’t know that they should find an agent to work with.
Here are 15 reasons why you need a buyers agent:
Cost of buyers agent is FREE
Expert on local market
List of preferred lenders
Access to all MLS listings
Find comparable properties
Research neighbourhoods
Negotiate sales price
Gather appropriate documents
Attend inspections and walk-thrus
Write repair requests
Constant communication
Meet contractual deadlines
Emotionally detached advisor
Request invoices and warranties
Schedule closing date
The listing agent has a relationship already established with the seller. Their job is to get the best price and terms for their seller. The listing agent will help you buy the place, but why as a buyer would you put yourself in a disadvantageous situation? Having someone on your side doing all the above makes sense.
Shhh
Visiting open houses, talking with the home sellers, contacting listing agents directly all have the potential to affect your negotiations. Accidentally, you may reveal your position – your budget, that you are pregnant or that you need to buy a house in the next 30 days. The Buyer’s Agent keeps all of that information confidential so it can’t be used against you in negotiations.
You don’t have to see every single house on the market
If your agent is truly working for you, he or she should be able to narrow things down based on neighbourhood and your lifestyle needs.
Location, Location, Location
We’ve all heard the phrase “location, location, location” but what does this mean in practical terms when it comes to property prices? – for most homes, this translates to some key factors that impact your life and your lifestyle:
Quality of local schools is frequently the single most important factor
Proximity to local employment opportunities is a very high priority for most employment-age buyers
Proximity to social, shopping and recreational centers is valued most by younger buyers but plays an important role in pricing for all homebuyers
Making Changes so the House fits You
Typically, when the potential buyers have to knock out a wall or two to make the house work for them, then chances are the house does not work for them.
Consider the commute
If living on one side of town adds 30 minutes to your morning and afternoon commute time and there is a similar house in a similar neighbourhood closer, consider the closer home!
Consider the commute
If living on one side of town adds 30 minutes to your morning and afternoon commute time and there is a similar house in a similar neighbourhood closer, consider the closer home!
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