Spring market is upon us – Are you ready to buy a house?
By following a few key tips, you can give yourself a competitive advantage and increase your chances of finding the perfect home for you and your family, here are some spring market tips to help prepare you for your next purchase.
- Make a Wishlist
- Identify the number of bedrooms, bathrooms, and parking spaces you need
- Consider the layout and design of the home (open concept or defined rooms)
- Assess your accessibility needs
- Determine your priorities outside of the home (location, proximity to parks, schools, etc.)
- Determine what you are willing to compromise on
- Choose a Neighborhood
- Consider affordability as a key factor in your decision-making process
- Consult with a real estate professional to identify neighborhoods that meet both your wishlist and budget
- Find the Right Local Real Estate Agent
- Begin your search online, but don’t underestimate the value of a local Orangeville professional real estate agent
- An REALTOR® can offer in-depth knowledge of the local market and guide you through the shopping and purchasing process
- They can also assist with the sale of your current home, if necessary
- Create a Budget
- Assess your weekly and monthly expenses
- Determine what size of mortgage you are comfortable taking on
- Consider extra expenses associated with a home purchase, including moving costs, land transfer taxes, closing costs, and potential renovations
- Get Pre-Approved
- Identify the size of your down payment and what you’re comfortable spending on a monthly mortgage
- Get pre-approval in writing from a professional mortgage specialist
- A pre-approval letter can eliminate the need for a financing condition in your offer and make your bid stand out from other potential buyers.
By following these tips, you’ll be well on your way to finding the perfect home and navigating the tight housing market with confidence.