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Buying your first house can rank pretty high on the stress scale! But the process can be pleasurable – and you can minimize anxiety by using these simple tips.
- Know what you can afford. Get pre-qualified for a mortgage, and only look at houses you can afford.
- Consider your lifestyle. It will determine whether you look for housing in the city or in a rural setting. Consider jobs and commuting distance, your interests, and if you have children – schools, other kids, playgrounds, and recreation centres.
- Consider your options. New homes have warranties, but they may lack the character of more established resale homes. Resale homes are generally in established neighbourhoods with large trees and yards, but repairs or updating may be needed. With condominiums, you will likely share common walls and hallways with other people, but enjoy a maintenance free lifestyle. And finally, rural properties are often less expensive, but also offer fewer community services. It pays to weigh your options carefully.
- Determine what you NEED in a home and what you WANT. For example, you may need three bedrooms, but a fourth would be nice. Do you want a new or resale, condo or townhouse, and consider the features that are important to you.
- Use a REALTOR®. A Realtor can help you identify what you want and take you to homes and neighbourhoods that meet your needs. They will know what’s available on the market at any given time, and will have the pertinent information you need to make your decision. A Realtor® can also help with issues such as:
- Obtaining a Mortgage
- The Role of a Lawyer
- The Appraisal
- Real Property Reports
- The Inspection
- Tax and GST
Source: creb.com |
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