Strategies for Successful First-Time Home Buyers

Smart Strategies First-Time Home Buyers

There are fewer more important financial decisions you make than buying a home. It’s important to educate yourself to make the most important commitment to a home purchase. These successful strategies will make your first home buying journey a pleasurable experience.

get pre-approved for mortgae
  1. Get pre-approved with a Mortgage Lender or bank which will make sure you are pre-approved NOT just pre-qualified before you make an offer to buy. If it’s low get it repaired.
  2. Know what your credit score is so when you shop lenders they won’t run your credit each time causing your score goes down.
  3. Find the right agent who’s willing to help you through the home buying process.

Why you should hire an angent
  1. Don’t go Open Housing to find the right house-An agent will take you to all the best homes for your family at the price you can afford.
  2. The market is constantly changing. Don’t start looking for a home 6-8 months in advance of your purchase.
  3. Wait for a better market and interest rate are not the best ways to strategize your home buying.
  4. Understand the importance of location, Understand the “Re-Sale-Ability”.
  5. Not getting what you want because you’re impatient.
  6. If you love the home act quickly to make a decision or someone else will buy it.
  7. Have a professional Home Inspection by a member of The Ontario Home Inspectors Association.
  8. Don’t purchase the “Upper End” of homes in the Neighbourhood because the lower end could bring your hme price down on resale.
  9. Overlooking an inferior floor plan for an attractive exterior does not give the dream home you are looking for.
  10. Understand how the house will function for your family.
  11. Make sure to have Buyer Agency Representation explained in detail so you know what you are signing.
  12. Understand the “Art” of negotiation in order to get the best deal and not lose it.
  13. View Real Estate as a serious investment.
  14. Make the offer look appealing to a seller.
  15. Not buying at all.
  16. Don’t think that this home is your last purchase as circumstances are always changing.
  17. Don’t get discouraged-the right home always comes along.