House hunting is surely one of the most exciting steps in the home-buying process; there’s the thrill of the hunt, a new space to make your own, and a new neighbourhood to explore.
Whether you’re a first-time buyer, are looking to relocate, or need to downsize, it always pays to learn as much as you can about this process before you jump in. Here’s how to ensure a successful house hunting experience.
Do your research.
No matter what kind of real estate experience you have under your belt, it never hurts to brush up on the basics of purchasing a home. Review the home-buying process, download our free buyers guides, or see what’s currently available.
Know your budget and stick to it.
Why go through the stress and heartache of falling in love with a home you can’t afford? Before you see any properties, meet with a financial professional to review your budget, get pre-approved for a mortgage, and determine what mortgage option will work best for you. Having a clear idea of how much you can afford will help you narrow in on the right home much faster. See our Money Matters for Buyers page for a closer look at financial strategies.
Make a list of your must-haves.
Consider your present and future needs, and what type of property would best serve them. As you tour each home, take note of the condition of each must-have feature, whether that’s a basement, outdoor space, or the overall community.
Explore the area first-hand.
If possible, spend a day in the community to make sure it’s a good fit. Take a walk to the nearest transit stops, stores, schools, parks, and other amenities. You’ll be able to see your potential neighbours and get a feel for the community atmosphere. If you’re curious as to what the average home prices are in a specific area, you can find out here.
Know what to look for.
While a home inspector should conduct a thorough inspection before you purchase any home, you should familiarize yourself with what matters most in a home. To get started, see our comprehensive Home Buyer Checklist.
Be prepared to compromise.
We are currently in a highly competitive market, so you want to be flexible when it comes to factors such as, move-in readiness, outdated appliances, flooring, or paint colours. You may not find a fully-updated home with a perfectly landscaped yard on your ideal street, but that doesn’t mean the right home isn’t close by.
Find a team who can help.
Take the stress out of house hunting and get in touch with a team of professionals. If you’re ready to start house hunting, we would be happy to help. Contact us at 647-680-1699 or at firstname.lastname@example.org.