Top 10 Ways to Reduce Turmoil for Homebuyers

  1. Find a real estate agent that’s simpatico. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you choose is both skilled and a good fit with your personality.
  2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long. 

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  3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
  4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go. Look carefully at the home inspection report but remember, home inspectors cannot pass or fail a home. They will bring to light items of concern that you may has missed during your initial viewing. These items for example can be that the 10 year old hot water tank is past it’s life cycle and should be replaced soon.
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  5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
  6. Remember that your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself–room size, kitchen–that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
  7. Get financing approved first. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
  8. Account for extra costs. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
  9. Prepare to be uncomfortable. For most people a home is the single largest investment in their life. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
  10. Treat your home as a home. Choose a home first because you love it; then think about appreciation. While Canadian homes have appreciated an average of 7.3 percent annually over from 2014 to 2019, a home’s most important role is as a comfortable, safe place to live.

Tom Ikonomou RE:MAX City

 

There are more, way more things to consider when buying a home and your real estate professional can guide you through the process. To streamline the process Click HERE

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Tom Ikonomou: 778.879.8366

Tom is a degreed Real Estate Sales Professional with the resources necessary to protect your needs and guard your interests. All information provided by this author is only an opinion, is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of RE/MAX City Realty..All Rights Reserved. ©Ikonomou Systems,

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