HOW TO GET READY TO BUY A HOME?
The more prepared you are as you start looking for a new home, the easier and more enjoyable the process will be.
Ideally, you will want to find out about your mortgage options before you start looking. Pre-qualifying for a mortgage is the best way to discover how much you can afford. Your banker will look at your income, expenses and debt to determine how much a lender will lend you. Combine that amount with the money you have for a down payment, and that’s your budget. That way you avoid the frustration, disappointment, even the embarrassment of putting an offer in on a home only to find out you cannot get the financing. In addition, it is always harder to look down the price scale after you find out you cannot afford the more expensive home. Being realistic about your options, especially how much home you can afford, is the first step to being happy in your new home.
I can introduce you to several trusted bankers and mortgage brokers who can help you look at the big picture. Call me or e-mail me and I can get you started by connecting you with someone who will let you know just how much you can afford.
After you know your target price range, you will want to consider your needs vs. your wants. Looking for a home can seem overwhelming at first. There are so many things to think about, and so many choices. A small investment of time and effort right at the start will pay enormous dividends. When I work with you, I always take the time to help you organize your thoughts before you start getting serious about looking. Making a plan will simplify the process, save you time, and help lead you to the right home for your needs and wants! Knowing which of your needs and wants are most important to you will ensure that you are happy in your home for years to come.
Here are some important questions to ask yourself even before we meet:
How much house can I afford?
Where do I want to live? (community/general area)
Are schools a factor?
Do I want an older home or a new one? What style of home do I prefer? (detached, town home, condominium, multi-family, bungalow, other)
How much renovation and remodeling am I willing to do?
Is being close to public transportation important?
Do I have special physical requirements, such as a need for wheelchair access?
Do I have pets to consider?
What sort of lot would I like? (small yard, large yard, fenced, garage, patio/deck, other buildings)
How many bedrooms do I need? How many would I like to have?
How many bathrooms do I need? How many would I like to have?
What sort of features do I want? Living room? Dining room? Open concept? Main floor laundry? Fireplace? Finished basement? Ensuite bathroom in the master bedroom? Big deck out back?
How big a house do I want? How many rooms? How many square feet?
Is walkability important? Do I want easy access to green space or parks?
Once you have an answer to some or all of these questions (and more) you will be off to a good start in finding the right home for your needs. Be prepared, though, for your thoughts to change once you get out to look. Sometimes you think you know what you want, but it is not until you are standing there looking at it that what you once thought was important is not as important as you thought. But having that clear starting vision of your home in your mind is a huge help in finding just the right home for you.
SERVICE | KNOWLEDGE | RESULTS
Thinking about Buying?
Should I Buy Now?
Getting Ready to Buy
Choosing the Right Agent for You
Why Choose Steve?
Searching the Listings
Choosing a Neighbourhoods
How Do You Buy a Home?
The Documents You Will Sign
The Deal is Firm: Now What?
Your Lawyer’s Role
Closing Costs & Other Fees
Preparing to Move
After Closing Day
334 Wellington Rd. S
London, Ontario N6C 4P6