Whether you're buying your first home or buying your tenth home, it can still be quite a stressful process. There's so many things you don't know, and even more things you don't know that you don't know. Having been in your shoes a time (or twenty) we know what you're going through which is why we've compiled a list of things you need to know before buying a home.
1. USE A REALTOR®
Did you know that as the buyer you don't have to pay any real estate fees? The seller covers all of those which means there is no reason not to use one. A REALTOR® can walk you through the entire process and make sure that you are being represented properly!
2. TALK TO A MORTGAGE PROFESSIONAL
As a Realtor® the worst part of the job is seeing someone fall in love with a house that they can't get. By starting the mortgage process early it ensures that when looking at houses you have the confidence knowing that it's within your price range. Most Realtors® have a network of great professionals they can recommend to you.
3. ASK QUESTIONS
Buying a home is a huge decision, not one that you should walk into blindly so take advantage of the professionals around you and ask questions (read a whole blog on choosing your real estate team here).
4. LOOK BEYOND WHAT YOU SEE
Let's face it we all have different styles and although it can be hard, when viewing houses, try to look beyond that person's style. The furniture will all be gone and the paint is easily changed, don't get hung up on those minor things if everything else is perfect.
5. RESEARCH THE AREA
If you have a great real estate team they can help with this, but especially when moving to a new city, you want to familiarize yourself with the areas. You want to make sure it's an area that works for your life, both now and in the future.
6. BE PATIENT
We've seen it time and time again where people either lose out on a home because of a competitive market or just can't find one that fits their criteria so they sacrifice their dream. Although some compromises might have to be made your home should feel like yours. If you find yourself getting impatient, take a step back and trust that you'll find the right place.
7. BUY WITHIN YOUR MEANS
It's common for many people to buy a home for the maximum amount that they can get a loan for. We recommend looking at personal values to make sure that's a good fit. If you enjoy travelling, concerts, or eating out make sure that you'll still have room in your monthly budget to enjoy those things once you factor in the mortgage, property taxes, and utility payments.
8. HAVE EXTRA FUNDS AVAILABLE
People know that they need to save up money for their down payment but they often forget about the extra costs that can come from buying a home. Costs like a home property inspection, lawyer fees, and property taxes. Extra money set aside will ease the stress of buying.
9. GET A HOME INSPECTION
Whether the home is brand new or fifty years old we always recommend a property inspection. It helps provide peace of mind and also identifies issues/costs that may come up in the future. When choosing a property inspector we recommend looking at their credentials/expertise rather than solely basing it on price.
10. TRUST YOURSELF
This is going to be your home, it needs to feel right for you. Don't prioritize other people's voices over your own. If everything is happening too quickly or you think you've changed your mind, until the waiver removing all conditions is signed you can still back out. Trust that you know yourself best.
If you are looking to buy a home in Grande Prairie, the County of Grande Prairie, Sexsmith, Clairmont or any of the surrounding areas, we are here to help. Having lived in the area for over 30 years we are your Grande Prairie experts.