Written by Rick Saini
Are you thinking of buying a home and don’t know where or how to start? What do you look for? Are you paying to much? Was that the best deal you could have gotten for your money? How do you get the best deal? How much money are you going to have to put into this purchase to make it look like the way you want?
These are just some of the questions I hear regularly from clients who are in the market of purchasing a home. Buying a home is one of the biggest purchases you will make, and can be a pleasant or difficult experience.
Here are a couple of tips to make this adventure a little less difficult and a lot more pleasant.
Tip 1 – Hire a Realtor
Would you invest your life savings into the stock market without getting professional advice from your financial advisor, then why would you buy your biggest asset without getting professional advice from a Realtor. Realtor’s not only research the property market and surroundings, but also negotiate to get you the best deal possible. As a buyer there is no cost to you for this service, the Realtor gets paid through the sellers and you are getting absolutely FREE advice from a licensed professional.
Tip 2 – Make sure this Realtor is good at what they do
Any Realtor can book showings and drive you around. Make sure you look for a Realtor who knows the market and is not afraid to voice their opinion about a property. It shouldn’t be about selling you any home to make a quick buck. It’s about finding you that perfect home, no matter how many you have to look at in the process.
Tip 3 – Make a list of your Wants and Needs
Sit down with your Realtor and make a list of what you NEED in a home, things that are an absolute must, and what you WANT in a home, things that would be nice to have but you can live without.
Needs: a 3 bedroom home, backyard, double garage and 3 bathrooms.
Wants: finished basement, swimming pool, walk in closet, master ensuite.
Please keep in mind that Wants and Needs will always change for individual clients, these are just examples. You may even find your Wants and Needs change throughout your searching process.
Tip 4 – Don’t focus on what can be changed
When you look at a property, don’t focus too much on paint, carpet and furniture. These are things that you can and most likely will change once you move in. What you should be looking at is the layout, lot size, room sizes and how much money you will have to put into the home if it needs updating in rooms such as the kitchen and bathrooms. Keep in mind that your Realtor should have an idea how much money will need to go into the home and can negotiate a better price based on the numbers.
Tip 5 – Go Firm
You guaranteed to save money by going in firm on a home purchase. Two main conditions that sellers do not like seeing on the agreement of Purchase and Sale is financing and sale of buyers property. If you can eliminate these, you have much more negotiating power.
Have your financing in order before looking for a home. You can do this by working with a licensed mortgage broker and getting a pre-approval to find out where you stand financially before making your purchase.
You can eliminate Sale of Buyers Property by working with with a Realtor who’s Brokerage offers programs such as “Guaranteed Sales Program”. For more information on this program and other great programs that are offered by my team please call me and I will be more than happy to assist you with your needs.
Century21 Home Realty Inc, Brokerage
Toll Free: 1-866-955-RICK
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