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4 Tips for buying your first home

If you’re thinking of taking the plunge and buying your first home, check out these tips to help you get started.

Know what you’re looking for

While this might seem obvious, it’s important. Sit down and make a list of must-haves, deal-breakers, and desirables. If you’re buying a home with someone else, make sure to include their preferences too. This will help you sift through the hundreds of properties available to find the options that work for both of you.

Desirable features are those that you would like, but those that could boost the price of a house out of your budget. Alternatively, these features are things you could ultimately install yourself when you buy the home.

With your list in tow, you’re ready to start searching for properties seriously. 

Make the most of open houses

Thanks to the pandemic, booking a viewing isn’t the only way to view properties anymore. Now, potential buyers can view online, virtual home tours at any time of day to narrow down their options.

While this is a much better way to shortlist – rather than just basing decisions off imagery – it’s still not quite like the real deal. That’s where open houses come in.

When you attend an open house or viewing, make sure to take in all the senses: Listen to the noises inside and outside the house, consider any odors, and check the general condition of the house.

Speak to the realtor about electricals, plumbing and roofing, and when these were most recently updated.

Hire a good real estate agent

This is important for any buyer but especially valuable for first-time buyers. A good real estate agent will help you find your dream home for the price you’re looking for. You can find a good realtor in your area by checking online reviews or enquiring with other people who’ve bought a property in the area.

It’s always good to meet the realtor in person so that you can gauge whether the relationship between you and them will work. Jen Jewell, your Caledon real estate agents, has an incredible reputation within her local area and works with some of the best properties. If there’s one realtor who can help you find your dream home, it’s Jen. Compare your local agents with Jen to help find a good match for you. 

A realtor will be able to think of questions to ask sellers that you might not think of. They’ll also be excellent at negotiating when the time comes to make your offer.

Stick to your budget

You might find a lender that offers to loan you more money than you can comfortably afford to repay with monthly installments. If you find your dream home, it might be tempting to stretch your budget a little further, but as a first-time buyer, it’s important to stick to what you can afford. You might love a property, but if you can’t afford to furnish it or enjoy the area as the payments are too high, it will quickly become more of a nightmare than a dream.

It’s a good idea to try to stay level-headed throughout the process and take help from family, friends, and experts.

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