Now that you’ve decided to take the next step and purchase your new home, there are a few things that you will want to know about the buying process.
5 THINGS YOU NEED TO KNOW WHEN BUYING A HOME!
Pre-Approval and Pre-Qualification
One of the most important things to do before you buy a home is to get pre-approved so that your Real Estate professional can find the home that fits your budget. Being pre-approved is not pre-qualified and no guarantee that you will get the mortgage that you need. Ask your agent to assist you in finding a lender that can help, or speak with your lender to ensure that you are prepared to make an offer when the time is right.
Neighbourhood Days on Market
Knowing what the average number of days on market for homes for sale/sold in the area you're interested in, is a great indicator of how to proceed when making an offer. If the average days on market is 10 days or less then be sure to get all your ducks in a row prior, so that when you find your ideal home you’re prepared to move quickly and confidently to make an offer. Conversely, if the number of days on market is long your real estate agent should provide information that explains why and be able to offer the best advice on how to proceed in this type of market, so you can make the best financial decision for you and your family.
Zoning and PlanningDepending on the intended use of the property that you intend to purchase, it is important to consider any zoning or planned changes to zoning in the area that you are looking to buy. Changes could have a profound effect on the landscape and value of properties in the area going forward. If you are looking for a property in an established area that may be subject to mixed zoning, it is especially important to understand the current zoning and any future planning established for the property and the area.
Finding a home in the right school district is especially important for those with school age children! If you are looking for a home in close proximity to a school, or, if finding an area with highly ranked schools is important, then a little research up front will help to determine the community that suits your needs best. Your real estate representative should be able to provide you with information about schools in the area and offer some insightful information. There are some great resources available to help you to find insight into neighbourhood schools, including the Fraser Institutes school ranking site.
Parking and parking permits can be a challenge for those who have many vehicles or guests that are coming to visit. Most of us don’t give it any thought until we need to find a place for our friends or visitors to park. Some of the restrictions for parking on the street include; hours and times available for parking or maximum number of permits available for overnights in an area are among some of the concerns? The City of Toronto offers some unique parking concerns and restrictions due to population, homes without driveways, mutual drives and streets that don't allow parking on the street at any time. Ask your realtor or check with the local municipality regarding parking allowances and restrictions.
Where do we go from here?
It is easy to get caught up in the excitement of buying a home and a top real estate agent will help you to navigate the landscape and assist you in keeping your emotions in check. Your
representative will be able to provide you with additional advice that will help you to be fully prepared and confident about your decision to buy.
Do you want to know more? Just go to www.brettlawler.ca and click register to recieve our complimentary Complete Home Buyers Checklist!
Looking for a home in Milton, GTA, Oakville, Etobicoke, Mississauga, contact Brett Lawler (647) 669-8694.