So, you’re ready to set out on your quest to look for the perfect home. Maybe you did your research thoroughly, but you’re still worried that you missed something? Here are some things you should know that may help you navigate through the process smoothly –
Steps To Buying A House
- Be realistic with the finances. Know how much you can afford based on your finances. Monitor your credit score and improve it as much as you can. Save money for down payment and several other fees and expenses that are sure to come up.
- It’s important to buy a house you can afford, not just now, but in the coming years as well. If your family is going to grow, schooling for children, payments on that car, or other expenses that may upset the numbers on paper. Factor in any vacations, kids’ college fees or other costs in your ‘mortgage payback strategy’.
- Look for a home that fits your life. For example, a garden in the backyard may sound beautiful, but if you don’t want to spend your weekends maintaining it, you might want to reconsider. Be practical.
- Choose a reliable agent. An agent will probably guide you through the whole process and you want an agent that is competent enough. Enquire, ask questions about his/her experience, how many houses the agent has sold. Don’t hesitate to ask for a personal referral or for references to see if the agent is right for you.
- Get pre-approved for the loan. Work out an estimation of your house budget and get pre-approved for a mortgage. Discuss with your lender about your financial condition and your credit. Pre-approval will save you a lot of hassle later.
- Don’t skip on house inspection! It’s always a good idea to get the house examined professionally to know what kind of damage and structural wear, if any, exists. They will also be able to point out if there are any issues regarding the safety of the house that you may have missed. Visit Home Inspection Calgary and hire a competent home inspector calgary.
- Don’t forget to take a final walkthrough a day before closing. This is a great opportunity to see if everything is as it is in agreement. Ask your agent to set it up for you and check whether all the requested repairs were made by the sellers, and whether the terms of your contract have been met.
Educate yourself well and be smart about your decisions because you’re going to put in a huge amount of money into this. Think about what your needs are and list out your priorities and potential deal-breakers. But most importantly, don’t hesitate to ask questions!