Are you ready to buy your first home? It is one of the biggest financial decisions that you will ever make in your life. Having said that, it’s also among the most difficult ones. Therefore, there is no room for leniency as you are investing a whole lot of money. Following are some of the things that you should NEVER ignore while purchasing your first home.
How Much Can You Afford?
What’s the maximum amount that you can pay each month? That’s the very first question that you need to answer before buying a home. The best possible method is to spend a couple of months with an updated budget (mortgage payments).
During this experimental phase, you will also put away some amount for the maintenance accounts of your home. If you are able to manage your life conveniently, only then you should progress any further. Also, make sure that you have got yourself covered for other upfront costs, like stamp duty and valuation fees.
Some buyers are reluctant to use a Realtor® because they falsely believe that it adds to their overall cost. In actuality, it’s the seller (not the buyer) who pays the commission to the listing real estate agent Ottawa. For this reason, the listing agent won’t care about your interests. In these circumstances, it is important to have a professional who could help you through the buying process.
Armin Khamsehzadeh is an experienced Realtor® who can help you to find homes for sale in Ottawa.
Examine the Property Carefully
If you do find a dream home, make sure that it doesn’t require any massive repairs. For instance, any changes to kitchens and bathrooms can be exceptionally expensive. Similarly, issues like roof replacement can cost you a lot of money. Mold and malfunctioning appliances are other common problems.
Check for all these issues and take into account their repairing costs (if any). This will give you a better idea of whether you can afford that particular property or not.
Take Your Time
Despite being NEW in the market, you must realize the primary objective of real estate agents. They are experienced professionals who are trying to make a quick sale at the highest price. For this reason, they may pressurize you to make a quick decision. NEVER place an offer quickly because it can cause a lot of mistakes.
If you feel that the agent is rushing the process, back away from that property. In this way, you are less likely to make a regretful decision as you will get time to analyze things.
When you Tour a home with Armin, he will answer any questions that you may have, but also, he will let you have your own peace while looking at the entire home.
The services of an honest home inspector can save you from making a disastrous mistake. If you have a reliable Realtor® (like Armin 🙂 ) and he/she suggests someone, you should go with his/her advice. The home inspector you choose must be extremely thorough and check all the aspects of the house properly. You need to make sure that he isn’t missing any details to encourage a sale.
If you are not confident about the choice of your Realtor®, look independently for a capable home inspector.
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