Many people dream about buying a house for years – before they even begin the process. They think about the number of bedrooms they want, what their neighborhood will be like, and what type of entryway will they have.
However, there’s much more to buying a house than picking your favorite featured listing and moving in. It is important to understand all the steps involved in buying a house, what questions to ask, and how to close the deal.
Buying a house is like buying a used car. You need to look under the hood and take it for a spin, turn on all the taps, flush the toilet, hit the shower and see what happens.
So let’s walk through the process of buying a house together so that you are aware of certain things before investing in Halifax real estate.
Don’t Fall in Love
Most of the time when people are buying a house, they listen to their heart without actually feeling logical, which is okay as long as you are not letting your emotions affect your decision. Your home will be your biggest investment, so it is perfectly fine to take some time before making the decision. But, it is also important to think of it as purely a business deal and negotiate logically to get the best possible price.
Leave your heart at the door. Love at first sight is exciting, especially when you are looking for homes that are just a step away from where you are now.
Tip: Remember the lower the price you buy your property at, the better the odds of you profiting from it.
Know What You Can Afford
It’s not always true that only the paranoid survive. But also there is no harm in being a little paranoid and considering a few things beforehand. Start with finalizing an amount that you are willing to pay for the new house. Set a budget. Next, calculate how much money you have and how much money you can loan.
This calculation is necessary to keep you in the safe zone.
Search For A House That Fits Your Life
Once you have managed your finances, it’s time for you to list your priorities among listings in your area of choice. You might not be able to find a listing that fulfills every item on your list, but it is always good to set your priorities so that you know what to look for when buying a house. So pen them down, or make a list on your phone so that they come in handy during house hunting.
Turn On All Five Senses
Long before you buy your first home, do proper research of the area before, and monitor the condition of the market. Make sure that you pay attention to the distance that most homes in your price range stay on the market and also if there is a big difference in the price range.
Researching properly and basing your logic on the financial factors will surely help you in purchasing the best property.
Be Picky When Choosing an Agent
When you have it all sorted in your head, you can actually start looking for a real estate agent who can help you find a home. When looking for a Dartmouth real estate agent, a personal referral is the best way to start. Ask your neighbors for references. Research online and make a list of the best agents in your area. Go through their social media and check their reviews. After shortlisting the top 3 agents, interview them before settling on one. Ask them how many buyers are they currently representing. A good agent will be able to negotiate better with the sellers and show you properties that fit your budget and meet your needs.
Just like a business, investing in real estate can go either way: it can turn into a profitable investment, or it might turn into a disastrous experience. If you follow these 5 tips and play it safe from the start, you will surely have a seat on the winning table.