Buying a home is a big decision, and if you’re a first-time homebuyer, the process can seem overwhelming.
Buying a home is likely the biggest purchase you’ll make in your life — and you don’t want to enter into it without knowing where you stand financially. You should take stock of any savings you have currently, and decide whether you have enough to cover a downpayment. If you don’t, keep saving until you have enough for a downpayment. You’ll also want to make sure you have enough money for closing costs, which can amount to three to four percent of the cost of your home — and get pre-approved for your mortgage.
After you’ve got your finances in order, but before you start seriously looking at home listings, you should sit down and make a list of the things you want and need in a home. When you do this, it’s important not only to consider what you and your family needs now, but also what you might need in the future. Consider the number of bedrooms, bathrooms, how much living space you need, and other considerations like proximity to schools or work.
If you’re serious about buying a home, one of the best things you can do is to enlist the help of a local Realtor®. A local Realtor® not only has extensive knowledge about the real estate business, but they also have specific knowledge relating to your city and neighbourhood. With this knowledge, they’ll be able to help guide you through every step of the process and negotiate the best offer possible for your new home.
At Lifestyle Real Estate, our team of experienced, local Realtors® can help you sell your current home or buy the home of your dreams in Guelph. Contact us today.