Over the years we have written many blogs about useful tips and lessons for first-time home buyers. But after writing our latest one, we realized that there are a lot of useful buyer tips that are applicable for every stage of the real estate journey. Repeat homebuyers can still make mistakes even if they are on their third or fourth real estate transaction. If you are in the process of making a move check out the following 5 best buyer advice points to ensure you are not making any mistakes.
#1 Always Save For Emergencies
Whether you are buying your first house or you're fifth, you should always have savings set aside for house-based emergencies. One day the fridge is working the next it’s not. There are a lot of things that can go wrong after the home inspection.
#2 Create A Budget
Every new home calls for a new budget. If you are a first-time homebuyer, your budget might be stricter than someone who is also selling a property. However, a budget is especially important if you are thinking about downsizing into a condominium after retirement. You may have to ask yourself some difficult questions like will the sale of your previous home pay for your monthly fees?
#3 Choose A Real Estate Agent Carefully
As we go through the different stages of real estate, the agent we align ourselves with for every transaction is important. In some cases, you can easily work with the same agent no matter the property. But in other cases, you cannot. If you are looking for a property in Kingston but your agent is in Newmarket they will not understand the market or where to look for your ideal home. If your agent deals with houses primarily they might not have the knowledge to help you buy a condo.
#4 You Need To Use Your Other Senses
When looking at homes you need to use more than sight to help you see a house. You need to smell, listen and feel. How does the house smell? Is it musty or fresh? Are there any unusual sounds? What does the street traffic sound like? And lastly, what do the walls, floors and surfaces feel like? Are there any bumps, dips or cracks?
#5 Control Your Emotions
Buying a home is an emotional process. It’s a step towards financial freedom, it’s a family home and in some cases, it’s the last home. But throughout it all, you need to look at a house with clear eyes. Love, at first sight, can be dangerous. It can make buyers quick to put in offers on a house that isn’t right for them. To help you think a little clearer, make a list of your wants and needs and what streets or neighbourhoods you’d like to live in. This will help you narrow down your search and hopefully find a property that ticks most if not all your boxes.
The best piece of advice we can give is to always use your real estate agent. Ask them questions and speak to them honestly about your wants or your concerns. Use them as your home buying therapist and listen to them when they give you feedback. Being open and honest with your agent will always make for a smoother transaction.
At Knowledge Broker, our goal is to create an open-source of information for all our clients. We want to ensure that, at the end of the day, they get exactly what they want and what they need. If you know someone who could use our help or services please put them in touch with us or send us their details using the contact information below. And before you go, click here to take the Knowledge Broker Quiz and see exactly what we can do for you!