Buying your first home is a big deal! If you are a first-time home buyer, you might be anxious, stressed, or really excited! Buying a house is a grand adventure, but like any adventure, there is a lot of planning involved. These tips will help you organize this life-changing adventure!
Get Pre-Approved For a Mortgage.
https://solidgroundmortgages.com/family-is-outgrowing/ – link out to this site to speak with a mortgage agent. When preparing to speak with a mortgage agent, there are things that you need to know and disclose to see if you are qualified to get a mortgage. These factors include:
- disclosing current and 2 year job history,
- where your down payment is coming from,
- what your plan for the future is,
- the type of house that you wish to purchase, and,
- the geographic location of the property
Everyone’s home buying situation is different. If you’re looking for more information, specific to you…
I suggest you read here, or you can contact me, Klaudia Nabialek if you have any mortgage inquiries.
Determine Your Budget!
How much can you realistically spend on a house? How much can you afford to put into the house if necessary? Can your (and/or your partner’s) income support all of the expenses associated with owning a house?
All of these questions are important to determine which house or neighbourhood you can afford to live in.
Making a budget may be a boring task, but it is necessary! Ensuring that you’re putting your money toward the priorities in life, is important, especially when it comes to owning a house. When you buy a house, you enter a contract that includes other necessary living expenses. Do your research to see where the cost of living fits your budget!
Important note: don’t forget to work the cost of your agent’s commission into the budget!
Find Which Realtor® is Good for You!
Being a first-time home buyer only happens once in each person’s lifetime, if that. Having the right Realtor®can make a positive impact on your home buying journey, especially if you have never gone through this process before. It is necessary to find an agent who is familiar and empathetic to your needs, and understands your limited knowledge of the real estate market.
Some ways that you can determine if you have found the right agent is:
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- Talking with people you know. Can they refer someone to you?
- Research potential agents. What is their reputation like?
- If you’re at the point of signing a contract, take a close, thorough look. Will they provide what you need?
Picking the Right Neighbourhood for You!
There are some really great houses in ideal neighbourhoods, but sometimes there are nice houses in not-so-nice neighbourhoods. Make sure the neighbourhood you choose fits your lifestyle and future plans!
It is important to find the neighbourhood that you want to live in. If you’re newlyweds and plan on having a family, find a family-friendly neighbourhood. For example, a place close to schools, parks, and maybe recreational centres.
You will also want to consider discussing proximity to urban centres. If you want a family, you might want to live in a suburb where there’s lots of land space. However, what is the commute like from the suburbs?
Determining these key factors will help your agent find you your ideal house
