Perhaps you are a first-time home buyer, or maybe you are looking to sell your current house to move into something better suited for your family. Either way, the spring real estate market is gearing up and you need to be ready. This is an exciting time of year in the industry for everyone buying and selling homes. But, it can also be chaotic and fast-moving, so here are some tips to get you fully prepared.
Get Pre-Approved for a Mortgage
You will want to start off by setting up a meeting with a mortgage broker or your financial institution. They will be able to provide you with a pre-approval, which is very important for a few reasons. First, this is your budget for your new home. It will give you financial parameters to work within and it will set you up for success. Second, in a competitive market, this may be crucial in ensuring your offer is considered on your dream home. Most sellers won't wait for a prospective buyer to get pre-approved when there are so many other bidders who have their financing secured.
Set Your Budget for Buying a Home
Next, you need to decide how much house you can afford - and it's not just the purchase price you need to take into account. Besides monthly mortgage payments, you must have enough money for a down payment, closing costs, moving and the initial expenses of living in the home, including things like new furniture and paint. There's also property taxes, utility costs and insurance premiums to keep in mind. This mortgage affordability calculator can help.
Choose a Trusted Real Estate Sales Representative
Local realtors offer information you can't always find online or through property listings. They know the prices of recently sold properties and are knowledgeable about housing values. A buyer's agent will represent your interests, helping you find homes that fit your budget and requirements.
Your Mississauga Real Estate Sales Representative
If you need an experienced, knowledgeable and trusting realtor to help you navigate the spring market, please contact me, Deborah Clerk, Sales Representative at Keller Williams Realty, Brokerage, at (905) 949-8866. I love working with all types of buyers, including first-time buyers, move-up buyers, downsizers, investors and more. Let's talk about your home buying needs!
Post a comment