Getting into the real estate market can seem very daunting especially when the inventory is low and the market favours sellers. But don’t despair, with a good plan in place, I know you will be successful.
TIP #1: Get Pre-approved
Visit a mortgage specialist of your choice and get pre-approved. Please don’t confuse getting ‘pre-approved’ with getting ‘qualified’ however. To actually get ‘pre-approved’ the process will involve credit checks, a look into your financial obligations, assets, salary and work history. Once you know how much you can spend on a home, you will be off to a great start.
TIP #2: Tap into the Gov’t Programs
Recently the government introduced a few programs that can help first time homebuyers get a leg up.
- First-Time Home Buyer Incentive
- The Home Buyers’ Plan
- Land transfer tax rebates
- Home buyer’s tax credit
For more details about these programs please check out my blog at nataliefrench.ca/first-time-homebuyer-programs-whats-new/Hello readers, I am here again to give you another appalachianmagazine.com cheap levitra elaboration about your sexual health.
TIP #3: Work with a Buyer Agent
A good buyer agent is essential in helping you navigate and buy in the seller’s market we currently are experiencing. A buyer agent will be able to inform you of new listings, market values and the best strategy to help you be a successful buyer. Your buyer agent will also represent your interests in the transaction. It is always important to remember that the listing agent represents the interest of the seller.
TIP #4: Shop within your Budget
This might seem to be an obvious point, after all you got pre-approved. But if you start looking at homes above your budget it is going to be very difficult to like homes that are within your actual budget. Also, many homes are going above the asking price. Your agent will be able to direct you towards homes that will sell within your price range too.
TIP #5: Be Flexible
You may start out with a very long wish list. Quite often though, you will have to drop some of the requirements to stay within your budget. Prioritize the ‘must-have’ features and separate them from the ‘wants’. For example, if location is an absolute priority for you then you may need to give up some square footage or a garage to remain within your budget.If you have any further questions about buying a home and what the process might look like please don’t hesitate to reach out. I’d love to sit down with you and chat. You can reach me at email@example.com or direct at 519-636-7827.