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Apr 20, 2014

Tips For Home Buyers

Purchasing a home can be an incredibly stressful process. At Shop a Property we're dedicated to making that process easier. While no amount of advice will help you as much as hiring the right real estate agent, it's still important to walk into the home buying process with more knowledge than who your real estate agent is.

Here are some key tips to remember when you're starting the home purchasing process:

  1. Get preapproved for a mortgage. You're a lot less likely to get your dream home without a preapproval letter saying you'll be able to get the mortgage necessary to purchase it. Do some hunting around to see who will give you the best loan if you want, but make sure you have this letter before you start checking homes out. It will save you a lot of trouble in the long run.

  2. Stay open minded. Check out a couple homes that weren't originally what you had in mind. You never know what kind of home you'll end up falling in love with—and the point is to find the perfect one, right? So be willing to check out different types to make sure you've found the right one.

  3. Always get a home inspection. Of course the people you're purchasing from are probably quite honest people, but it's always a good idea to get a certified inspection done before you purchase a home. The home will probably be in great condition, but it's always good to get some reassurance from a professional.

  4. Learn about the neighbourhood. Having a beautiful home may be your first priority, but your neighbourhood will have a significant impact on your happiness level too. Once you've found a beautiful home, take a walk through the neighbourhood. See where the parks are, how close the grocery store is. If you can, take a moment to get to know the neighbours. The perfect neighbourhood will greatly improve your quality of life.

  5. Always give your best offer right away. In a busy market a beautiful house will usually get multiple offers. You don't have time to haggle for the best deal. If you really want that dream home, give yourself the best possible chance of getting it by laying your best offer on the table right away.

  6. Stay within your budget. If there's a bitter bidding war going on around a beautiful house, don't go higher. Your perfect home can be found within your budget. Being open minded is particularly useful when a house goes up in price. There's a good chance you'll find an even nicer house for a better deal—maybe even in a neighbourhood you like more.

Once you've armed yourself with this advice and that preapproval letter we mentioned in tip #1, give Shop a Property a call at 647-886-3462 and we'll help you find the perfect Toronto home to fit your needs and your budget. Our eight years of experience selling homes in Toronto will make the home purchasing process as simple as it possibly can be.

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