If you are thinking of buying your first home, this is such an exciting time. It will probably be the most expensive purchase you make in your life too. There are a few suggestions we can make so that you get the best dwelling for you and your lifestyle.
Here are some mistakes first time buyers make and some tips on how to avoid them.
You just look at the décor
Nothing makes a home look better than a home that has been staged. We know as that is what we do with every home we list. However, when we stage a home, it is a suggestion on how this home can look its best. You need to look beyond the décor and take a good look at the features of the home. Imagine where you would put your personal belongings.
- Are the rooms large enough to accommodate your furniture?
- Examine each room and look at the storage possibilities, if you need to do renovations, think of the approximate cost of any improvements you would like to make.
You are distracted when you are looking
It can be hard to look at a home with 2 kids in tow who are running through the house, and you are chasing after them. If you are also constantly answering telephone calls and replying to texts while you are walking through the home, you are not going to remember too much. Many times, a viewing must be rescheduled when you are distracted and it can waste both your time, the seller and the agent’s time too.
Floor plans can be tricky
When a listing is presented, measurements of rooms can differ and are not always exact. It is nobody’s fault sometimes dimensions can be off a bit. Sometimes condos can include balconies in the square footage of the floor plan. Hint: Bring a tape measure with you to get a feel of the dimensions of the rooms, so there will be no surprises.
Get the comps
Make sure that the real estate team you hire can give you listings of homes that have sold in the area. Real estate prices have changed quite a bit in the past few years and prices of homes that sold last year may not be the going price this year. Our Anne Winch Real Estate Team will always have comparable listings for you to check over. Different neighbourhoods can also have different prices for the same style of home. It is always better to know ahead of time what the going rate is for the type of housing you seek.
Lastly, here are some tips that can really help you buy that home with less added stress.
- Get mortgage preapproval so you know your budget.
- Don’t use all your savings for the down payment, have a contingency budget in place.
- Check with your real estate team about any added costs for closing.
- Get professional advice: a good lawyer, mortgage broker, and real estate team.
- Always have a professional home inspection.
Our Anne Winch Real Estate Team can help you through the process of finding a home and provide you with the names of any legal, financial, or home inspection advice you may need. We have been in the business for over 20 years, and we know that we can help you find what you are looking for. Please reach out to us if you are thinking of buying your first home or your forever home. We would love to help!