15 Oct 10 Simple Secrets to Buying the Perfect Home
Buying a home is a big step in the right direction. However, if you’re buying a home in Alliston, you should follow the ten steps below to make sure you’re ready to buy the perfect home.
1. Get your money and credit situation together before you do anything else
A big part of buying a home in Alliston is being able to pay for it in the first place; unless you have a massive hoard of cash sitting around, you will need a mortgage.
In order to increase your chances of getting approved — and to get lower rates — you need to maximize your credit rating and show some stability for your personal finances (this means refraining from moving your money around too much).
2. Get a pre-approval before you shop
Knowing how much a lender will loan you in the first place will help you establish a concrete budget that will clearly define what homes you can afford.
3. Make sure that your property lines are clearly defined
You don’t want a dispute with your neighbors over ill-defined property lines, so make sure that you find out exactly where they are.
4. Understand that ‘timing the market’ does not work
The real estate market does not have ‘optimal shopping periods.’ That is a myth (you cannot anticipate when and how the market is going to change) so don’t bother waiting around for a specific time frame to shop.
5. Assess what you will have to pay in addition to your mortgage
HOA fees, condo fees and property taxes can blindside an unsuspecting homeowner. Make sure that you find out what these are and see if they will fit your monthly budget.
6. Don’t make an emotional purchase
It is easy to fall in love with a house for reasons that you cannot fully understand. Do not make the mistake of purchasing a home based on these feelings, because once that romanticized view fades, you will discover that the purchase wasn’t very practical.
7. Have a look around the neighborhood
When buying a home in Alliston, you aren’t just moving into a house. You are becoming a part of a community, so make sure that you will feel comfortable living in the area.
8. Get your home professionally inspected
A home that is cosmetically perfect can have some serious underlying issues; the only way to find out is to have it inspected by a professional.
9. Don’t go for more than what you really need
Many home buyers make the mistake of purchasing a home because it has a lot of square footage with plenty of extra amenities. However, if you are not using those amenities, you will regret spending the extra tens or hundreds of thousands of dollars they costed.
10. Make an offer based on the facts
An offer should be based on two factors: your budget and how much you think the house is worth. Do not let anything else influence your decision.