If you are in the process of trying to find a new home, you possibly already realize how confusing it can all be. Buying a property is a big financial decision that can cost plenty of money and lots of stress if you are wrong, so better take your time on it.
Here are 4 tips to help you find your dream home.
Set a sensible budget
There is totally no point in looking at properties until you have a good idea of how much you can afford. Talk to a mortgage broker to find out how much you can borrow, then calculate how much you should have the ability to spend after accounting for equity and savings.
You’ll need to account for legal fees and expenses and any local taxes or stamp duties you may must pay, even though many lenders let you add them to the amount you borrow. It’s also a good idea to set aside an emergency fund, just in case there’s something you did not account for.
Narrow your search radius
Narrowing your search will help you find your ideal property. Make a list of areas where you would like to live and focus on those areas. Wherever you live, there should be a property portal that you can visit and filter your search criteria so you can see the homes that best suit your needs.
So are you trying to find downtown Toronto real estate or a property on the outskirts of Perth, a filtered internet search will help you find your dream home.
Is it likely to require multiple treatments?
When looking for your dream property, you need to determine how much work it might require and how much you can realistically do. Falling in love with a period home is one thing, but maintaining it may be quite another. As charming as they may be, many homes can be nothing more than a money pitso do not forget about it during your search.
Newer properties may not have plenty of character, but if you are not into DIY otherwise you do not have the budget to make regular repairs, this may be a more appropriate option.
From mouth to mouth
If you have been trying to find your dream home for a while, but your search has been fruitless, it may be time to adopt a new method of finding it. Word of mouth may not be the most traditional approach, but you never know where it might lead. Tell family and friends the locations you are interested in, in addition to your budget, and ask them to ask.
People often consider moving but do not want the trouble and upheaval of marketing and make regular observations. Personal selling may not be the norm, but it can and does occur, so this is another avenue to explore.
