Spring is Right around the Corner.

I have already seen the increase in the market. Houses in my area (Brampton and Mississauga) are popping up on the market quickly and then disappearing just as quick.

If you are thinking of buying a house this spring there is a couple of things that you can do before hand to help make the process run a little smoother.

Get yourself pre-approved for a mortgage.  If it is with your Bank or a mortgage broker this step will do a couple of things for you:

1.     Lock you into a Rate for your mortgage for up to 120 days.

2.     Tell you exactly how much you can afford

3.     By getting everything ready for the Mortgage agent beforehand will mean that you will have a lot less running around once you get your home. 

Narrow down the area you want to live in. If you are thinking of moving to a new area that you do not know much about, take a drive or walk around the area at different times of the week (at night or on the weekend) this will let you see what the people are like in the neighborhood at all times.

Compile a list of requirements. Break the list down into "must haves, preferred and wishes". We must have at least 3 bedrooms, but a 4th is preferred. A den or other bonus room is one of our wishes and so is having a laundry room on the second floor. This will make your job and your real estate agent's much easier.

Ensure you have the deposit ready. As you may or may not know you must have a deposit when you buy a home. This amount will be put towards the purchase price of the house and help in trust with the list brokerage until closing. If you have this ready and waiting it will be an easy trip to the bank to get the cheque once the offer has been accepted. Usually it is amount $5,000 for each deal.

Hire a buyers agent. A buyer’s agent is ethically required to do what is in your best interest in the real estate transaction. An experienced buyer’s agent is going to understand the market, and know how to whittle 1000 possible listings down to the five to ten that most meet your requirements. They will save you tons of time, tons of money, and tons of stress. This is where I come into play.

 

If you are looking to buy a home this spring or anytime. Please contact me and allow me to help you through the process.