For buyers, it’s a complex ordeal that requires a lot of planning. Instating the help of a knowledgeable Real Estate Agent will make the process run smoothly. To ready you for this, here is a general overview of what to expect and how to prepare.
STEP 1
Get Your Finances In Order
The first thing buyers need to do is put money aside for a down payment. This amount can range from 5%–20% of the purchase price of the home you’re planning to buy. Second, you’ll need to meet with a mortgage broker to determine what you can afford. Shopping around for the best rate is highly recommended.
STEP 2
Visualize Your Dream Home
Once you’ve established a price range, it’s time to decide what type of home will best suit your lifestyle. When considering location, make sure to think about access to things that are important to your everyday life. Schools, grocery stores, parks, trails, and restaurants are worth consideration. Growing up in Maple Ridge, access to the outdoors was important to me. Access to hiking and mountains was critical when I bought my home. Think about it carefully and you may want to put this down in writing. This will create a “needs versus wants” list for you and those involved.
STEP 3
Meet With a Real Estate Agent
It’s important for buyers to partner with a Real Estate Agent you feel completely comfortable with. A REALTOR® can help you find your dream home that meets both your needs and your budget. They will set you up with viewing appointments, and also help bring clarity to the complicated process of buying a home. You’ll want to go with an experienced and knowledgeable REALTOR® who you can be sure will represent your best interests.
STEP 4
The Search
Using the property search on Realtor.ca and consulting with your Real Estate Agent, buyers will be able to find homes in their desired area. Additionally, you’ll get updates regarding new listings and they’ll schedule your appointments with sellers.
STEP 5
Closing
Your Real Estate Agent can help you place an offer that the seller will either accept, counter, or reject. After you’ve negotiated an offer, you’ll need to conduct a home inspection and deal with any repairs—talk to me about how we can help you negotiate this through the negotiation phase. Finalize your mortgage with a visit to your lender, and you’re ready to sign off on ownership. This typically takes place in a lawyer’s office.
STEP 6
Enjoy Your Home!
At this point, congratulations are in order! Buyers becoming homeowners is one of the most liberating things to experience. And there are many benefits to buying a home — pride of ownership, the ability to make home improvements, building equity, appreciation — the list goes on.
