The first question you’re bound to ask is, “How much home can I afford?” That depends on a number of factors:
■ Your selected location. Are you set on a specific area? Downtown? The suburbs? A rural setting?
■ Your preferred type of home. Detached? Semi? Duplex? High-rise? Link? Townhouse? New or Resale? There are a variety of home styles you will want to explore.
■ Your income. After all, it’s not just the mortgage you have to take into account. There are property taxes, utilities, and in some cases condo or strata fees. As a general rule of thumb, your monthly home-carrying cost should not exceed 30-35% of your income.
■ Market conditions. Is it a buyer’s, sellers or balanced market?
There are also additional costs to keep in mind. It’s a good idea to work out exactly what you want and what you can afford before you begin the search. Be specific! After all, you don’t want to suddenly come to the realization that your dream house has come with a nightmare of bills and expenses. Stick to looking at houses in your price range. The more you’ve thought it out, the better your sales representative can meet your needs.
A part of deciding just what you can afford can be accomplished by meeting with your bank or a mortgage broker and negotiating a pre-approved mortgage. There are many types of mortgages and many different terms. Research all of your options. This ensures that there are no surprises once you’re ready to make an offer.
Once you’ve figured out your monthly expenses and what you can afford, you can start your search. It could happen that the first home you see is the one you want; or you might look at home after home with none of them catching your interest. Rest assured, the home you’re looking for is out there, and when you find it, you’re ready to make an offer. If your offer is accepted, the next steps are closing and moving into your new home.
Purchasing a home is easy once you put your plans into action.
Your Buyer Team and Their Roles
A real estate sales representative is a professional who can save you time and trouble. And possibly even a lot of money. You see, real estate sales representatives have the home buying experience most people lack. They know all of the steps and they are good negotiators who will work on your behalf.
A sales representative will:
■ Fine-tune your wants/needs list
■ Get special computer access to listing information
■ Screen houses so as not to waste your time
■ Arrange appointments
■ Offer helpful advice about the neighbourhood
■ Introduce you to trusted contacts who should be on your team, such as mortgage brokers, lawyers, and home inspectors
Above all, find a real estate sales representative who is a professional in the type of home you’re looking for. A country home professional may not be the urban market specialist you need. And when speaking with your sales representative, be as clear as possible about your needs.
When you've made the decision to expose your greatest and most personal asset to the open market this can can seem overwhelming and maybe even scary. Most people have mixed feelings about selling and moving on, even if they have great reasons to do so. Selling your home in today's fast paced market means the most aggressive agents who focus on EXPOSURE, smart STRATEGY and firm NEGOTIATION skills are going to reap you, the seller, the greatest results. My past clients who have sold homes with me can all attest to my experience at all 3 levels. They know that working with me and combining these three skills, they have a winning combination for success.
Is the final price your bottom line? Many of my clients say that's only part of it.....what I personally bring to the table for each and every transaction I work on is the commitment to you, the seller to make the whole experience, from start to finish as stress free, seamless and perhaps even a fun experience! From our 1st meeting you will know that I will personally take you through the entire process. From listing contract to closing day. Don't be fooled by some agents who show up to your home to sign the listing agreement, never to be seen or heard from again. I don't work that way. Even though I often have several listings on the go at any given time, most of my clients tell me they feel like they are my only client because I offer so my client service and support. Isn't that how you want to be treated?
I respect my business and I'm always honoured when new clients allow me the opportunity to earn their business. Together, we can get your house sold for the most amount amount of money and in the quickest amount of time....doesn't that sound great!