There's no doubt that buying a home is one of the most exciting events in your life. As exciting as it is, it can also be an overwhelming and daunting task to take on. Whether you're buying your first home or a move-up buyer, knowing what to expect on the road ahead is essential in making your transaction go as smoothly as possible. It's important to be properly informed about the buying process and to know that the process can change with time and the market.
Here are our top five Calgary home buying tips to make sure you're experience is smooth and enjoyable:
1. Get Pre-Approval For Financing
This is the most important step to take when you make the decision to buy a home. It's important to know what size of mortgage you cna qualify for as well as what you're comfortable with spending month-to-month. In Canada, there are additional programs available to help first-time home buyers make their initial real estate investment, such as the RRSP home buyers plan, and understanding how these programs work and if you qualify for them is equally as important.
Once you're pre-approved for your mortgage, you'll be more confidend when you make an offer and strengthen your negotiation position. By being fully informed about your financial situation, you'll be more comfortable with your payments and know exactly how much you can allocate to your down payment and feel assured that you're making the best decision for your financial future.
2. Find A Real Estate Agent
Because buying a home is an exciting experience, most people begin their search online and being day dreaming of the life they could have. It's easy to get swept up in the experience of a home search, trust us, we know! That's part of the reason we chose to become Calgary real estate experts. As exciting as this it can be to window shop for homes online, we know that it can be a daunting and time-consuming task.
When you work with a real estate agent, you'll start with an initial buyer's consultation, which helps both you and your agent figure out what you do and don't want in your new home. Once these details have been established, your Calgary real estate agent can narrow down your home search to listings that fit your wishlist, needs, lifestyle, and budget.
Your agent will also work to set up showing that work with your schedule. Let someone go the extra mile for you while providing expert advice and up-to-date market information so you can make the most informed decision while enjoying a stress-fress process.
3. Hire A Home Or Condo Review Service
Before you head into the negoiation or purchasing process, it's critical to have a thorough inspection of the available property. Not only will you gain piece of mind knowing your purchasing a good home with strong resale potential but you'll know if there are any potential risk or undisclosed issues that may come to light in the future. This is also the point that your will learn a lot about the home's construction and expected maintenance.
If yo're buying a resale home, most warranties have expired and there's typically little or no recourse to be made if you missed a defect or mainenance item after the point of purchase. Taking the few hours to conduct a home inspection can ultimatly help you catch these items before you close the deal can save you a substantial amount of time, money, and grief while giving you a full picture and help you to make a well-informed decision.
4. Don't Forget About Post-Purchase Care
Once the negotiations are over and the papers have been signed, there is still work to be done! Details such as getting your mortgage lended the necessary documents are timely and important. When you're working with a qualified Calgary real estate agent, they will take the time to make sure that these final details are handled as well as provide you with qualified references for any additional services you may be needings, such a renovation contractor or home security service.
Your agent will guide you through the steps you need to take before you take possession of your home, so you can focus on the exciting part, moving day. You can be comforted in knowing that you have a local industry expert available to provide you with the right contacts when you need them.
5. Be Patient
It may help to think about the home buying process as a marathon. You're making a big decision that will not only affect your lifestyle but your financial future as well. Buying your home is exciting but it's also one of the most memorable and largest purchases you'll ever make. Take your time, don't rush, and don't let anyone pressure or push you. A good rule of thumb to follow is when in doubt, sleep on it. Once you've had the chance to relax and evaluate the situation from every angle, you will have a clear mind to make the best decision for you that you're comfortable with.
If you're interested in Calgary real estate, contact JoAnne and Joseph Purcell or call now at 403.612.5298. Discover how The Purcell's can make your home buying or selling experience as effortless and enjoyable as possible.