Homebuyer “Do” List
For most Canadians, buying a home is the most significant investment of their lives. Navigating the process from start to finish can be stressful and often-times confusing. Here’s a simple Homebuyer “Do” and “Don’t” list to help you, as a homebuyer, know what to expect.
Homebuyer “Do” List:
- Do utilize free online tools to arm you with as much knowledge as possible. For example, the Home Price Comparison Index available at http://www.coldwellbanker.com offers buyers a way to compare average housing costs in over 400 markets across North America.
- Do access and closely review your credit score. A sound financial track record and solid credit score can help you lock in a loan and lower interest rates. Check your records in advance to catch any errors ahead of time, and to better understand how lenders perceive you.
- Do explore mortgage pre-approval. Getting this early greenlight will help others involved with your purchase that you are serious about home-ownership and well-qualified.
- Do line up your “all-star” team of professionals before game day. A team of experienced professionals will be key in making the home buying process simple and seamless. Start by interviewing and selecting a sales representative who you “connect” with. Your local Coldwell Banker sales professional can help you identify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process.
- Do anticipate your future needs and buy for lifestyle. Try to anticipate how long you’ll live in your next home and plan for major lifestyle changes when possible. What may make a perfect starter home for a couple might not work as well when children come into the picture.
- Do hone in on your housing priorities. Your ideal home may have a south-facing deck, double garage and 3 full baths. But before you start looking, make sure to separate your “must-haves” from your “nice-to-haves,” so you know where you can compromise to meet your budget.
If you’d like to know more about our Homebuyer “Do” and “Don’t” lists, or if you have any questions about the market, or home-buying process, then just pick up the phone and contact your local Coldwell Banker real estate professional. It just might be the best call you’ll ever make!