Buying a house is one of the most important decisions of your life. You aren’t just buying a house. You are buying a home. Memories will be made. Families will grow and dreams will come true. And, it will impact your financial situation for years to come. Get it right!
Here are a few more tips:
#1 Stick to your budget
Knowing what you can afford is probably the most important piece of advice. It affects everything else you do. Talk to a mortgage professional before you start looking at homes. This way, when you find your dream home, you will know you can afford it. You won’t waste time looking at homes you can buy.
#2 Be Wary of Fixer-Uppers
You may be able to save some money by buying a home that needs some work. Just be very careful what you wish for. Sometimes that little bit of work can become a major expense. Be sure you do your research and know, not only what needs to be done but also what it will cost.
#3 Location, Location, Location
This is not just a cliché. It is true. How is the neighbourhood? Transportation? Shopping? Schools? Is the house on a quiet street? And more. I firmly believe that location is at least as important as the house. If you can find one backing to a park or has a view, the extra dollars are worth it if you can afford it. You will get the extra investment back and more when you sell and you will have the benefit of the superior location for as long as you live there.
#4 Needs and Wants
Make two lists. The first one is “needs”. Things you really need in your home. 3 bedrooms, 2 bathrooms, yard, whatever these may be. These things are what you look for in the home within your budget.
The second list is, “wants”. You may want a garage but you could build one later if you have room (that could be a “need”). Hardwood, granite, steam shower all may be “wants”. You might even want a swimming pool but that is unrealistic so don’t even put it on the list. If you can get a few of your “wants” within your budget, great! If not, remember, the “needs’ outweigh the “wants”.
Questions? Give me a call at (403) 253-7326 and I will be happy to help you with one of the biggest decisions you will ever make.