Buying – The Right Way
Buying a home is by far the biggest investment of one’s life and should be handled with care, there are multiple aspects of a home buying project and demands strategic evaluation of buyer’s needs, financial preparedness, find the right homes to choose from the inventory, with finally preparing and negotiating the offer.
Let’s go into the most prominent aspects of getting into your dream home and how you can set yourself for success in this most important investment of your life, giving you and family a house to build memories and also serving as a tool for financial security in the long run.
When you think about buying a home you need to consider what are the most important characteristics you are looking in your home, this will help you in getting into a house which fits your family needs. This initial time spent in evaluation to deliberate your family needs will payoff in a compounding manner for years to come.
Obtaining a pre-approval from a Financial Institution should be your first step to determine the amount of mortgage you can afford, which determines the type of housing and the area within which you should focus your search. Having a mortgage pre-approval gives you a distinctive edge at the time of offer placement amongst other buyers, if there are multiple buyer’s offering for same property.
As a part of financials also budget for closing and moving costs and the lawyer fees which will be part of closing the transaction. Taking a stock of your financial situation upfront helps you to stay calm & happy through the entire buying process, next step being the most important one is for finding the right property. Let straight dive into that, now that our finances are ironed out.
Often you will hear Location, Location, Location and it is the key for getting into a good Real Estate investment, it’s true to a great extent, however, there are many other parameters which need consideration as well when finalizing a home.
Parameters such as proximity to School/Work/Highways/Shopping, Ravine/Park Views, Frontage, Lot Dimensions, # of Rooms, Type of dwelling – Condo/Row House/Semi/Detached/Corner House, Local Transit Access, Ranking of School, Neighborhood, Age of property, Type of Street – Court/Boulevard/Circle etc, these all are the various traits in a home. As a starting step you should research and see for your immediate family needs which are are the top 5 must have requirements relevant for your family, the next step will involve determining from the inventory of available houses which are a perfect marriage to your specific needs and wants. Getting in touch with a Real Estate Agent who can assist you to identify your requirements and comb through the inventory to find just the right properties suiting your needs makes the whole buying process effective and efficient.
The process of buying home is not a casual one and being an investment of a decent scale should be dealt with extreme care to get to the right property, the final major step being presenting an offer to the seller by doing a comparative market analysis of similar properties sold in recent past, getting into negotiations and working for getting a good deal.
Also, remember the home combing process should not be a rush rush decision, take your time to evaluate houses to understand what you can get in your price range, and eventually when the right home comes across you would know instinctively, if all is done right.
I would like to wish you all the best for getting into the perfect home, please feel free to call me at my number 416 727 0264 in case you would like to discuss, I would be more than happy to assist you in the process and can guarantee you top notch service acting as your Buying Agent.