Buying your first home is an exciting time but it can come with a lot of stress. Here are some great tips and tricks for anyone about to start the home buying journey.
Save, save, save
Start saving for a down payment as early as you can. The more that you save the more that you can put down on your house in advance and save money in the long run. Make a savings plan for yourself to determine how much you want to put aside each month. Consider speaking to professionals about how you can open up different savings plan options to help you save even more.
Get a pre-approval
When you are ready to start the hunt, get pre-approved for a mortgage. This will help you know the price range that you can afford and will help you save time when you do find your dream home.
Be sure to look at a number of different houses and neighbourhoods. It’s a great idea to know what it is you want by writing a few things down that you’d like to have in your home. By attending open houses and scheduling private showings with your real estate agent, you’ll have a good idea of what it is you do and do not like. It is also a great idea to go to various agent websites or realtor.ca to start your research!
Do your research
Be sure to do your research on inspectors, mortgage brokers, movers, etc. throughout your process. You’ll want to know that you are working with reliable and reputable people to make your house hunt enjoyable and productive. Finding an experienced real estate agent makes all the difference. Not only will they help you every step of the way, they will also have incredible connections and resources for related services.
There is a lot to remember when getting ready to buy your first home. You’re on the right track if you’re saving and doing your research.