Buying a home is a big deal and it’s crucial to be prepared and do your research. Going out into the housing market blind can be an overwhelming experience and could leave you less than successful. Whether you’re buying an investment home or your first home, you will want to find the perfect home, not just a place to live. Here are our top 7 tips to make sure your path to the right home runs as smoothly as possible.
- Talk about your future plans. If you plan to move within a few years, tell your loan consultant so he or she can find the right loan for you.
- Check your credit history. A good credit history is essential for a loan. Obtain copies of your credit report early, before you go house hunting, and make sure to fix any errors you may find.
- You can still qualify for a loan without a 20% deposit. We deal with a variety of public and private lenders and can help you with this area. Our loan calculators can give you an indication of what’s possible.
- Buy in a good school district. This is a big factor for many home buyers with families or those planning on starting families. This will also be an important factor when you decide to sell, as it will help maximize your sales price.
- Get professional help. A professional agent, especially an exclusive buyer agent, will help you with buying strategies and have your best interest at heart.
- Do your homework before bidding. Your research will pay off! Find out sales trends in the area because that will affect your initial bid. Researching this information before you send a bid could save you thousands and prevent you from losing out to a more knowledgeable bidder.
- Hire a home inspector. Hiring your engineer with experience in home surveys can be the difference between buying your dream home and getting a lemon with structural problems.