The advantages of buying a home are many. Appreciation, tax write-offs, and stability are among the most important. If you’ve saved up a sizable down payment and are careful with your credit, you should be in good shape to take advantage of the lowest interest rates and lock in a very low payment.
Nowadays, most home searches will start on the internet. Buyers are technically savvy and know the benefits of virtual tours and online listings. They also know how to map out the property and even get satellite views of the house, and see how it looks from the street. Getting a clear idea of what you want can be accomplished with just an evening of clicking around on the internet.
When you find a few homes that you’re interested in looking at, call one of the agents that have the homes listed. Unless of course, you already have an agent you’re interested in working with. First time buyers are often surprised to learn that any real estate agent can take them to see any home not just the ones that they’ve personally listed. Find someone that you are comfortable working with, that returns your calls promptly, and it should be a fruitful partnership. Be sure that they only show you houses that match what you’re looking for, and that they look at the houses first to make sure they match the standards that you’ve set.
When touring homes, take a notepad and pen with you. After seeing some homes, they will all become a blur, and you may remember the kitchen from number 2 being next to the patio in number 4. It’s hard to remember specifics about many different houses checked out in one day, so your notes will come in handy to jog your memory later. Also, pick up available flyers, or take a number of pictures of features you like, noting which home they belong to by taking a photograph of the house number first. Is the location good? Pay attention to the environment- watch for parks, excessive traffic or noise, power plants or large electrical towers nearby, as these all detract from its attractiveness, and its price. If it does have one or more of these elements, decide if you’ll be able to live with it, and bid low. Another trick is to give every house a rating from one to 10 as you leave.
If you think you found the perfect house, buy it. Though you might feel you would like to keep looking, why would you? Chances are, you will not find another house that you’ll like as much as that one. If you don’t put an offer on it right away, somebody else may come along and snap it up. After looking at a number of homes, you probably have a few that are on the top of your list. Ask to see those favorites once more and you will see different things than you noticed the first time you looked at the houses. This can be the time to nitpick the houses and keep track of anything negative that you overlooked on the first trip.
Choose the home that you decide fits your needs, and make your offer with your real estate agent’s assistance. A rule of thumb is to start about 10% below the asking price, unless the market is very depressed, in that case 20% below asking price should not insult the buyer. Negotiate the purchase price, handle the financing and paperwork with the help of your real estate attorney, and enjoy your new home.
Another great article by Bel Aire Calgary Homes
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