There is more to buying a home than just saving a down payment. If you’re going to do things right, you need to research everything from closing costs and lawyer’s fees, to finding a home and closing the deal.
Even more important is that you understand your role. No one knows your circumstances, personal finances, and preferences better than you. It’s your responsibility to take your time and educate yourself so that you can make the best decision – the one that’s right for you and your family.
Real Estate Rules of Thumb
Surely you’ve heard the old adage when it comes to real estate: location, location, location. But do you know what that really means? Do you know what makes a location good or bad? Can you spot a property that has potential, or one that you should avoid? Sure, anyone can identify the obvious location, but there are some things to look for that will help you find promising properties that others might overlook. Other important things are information and timing.
You may, at times, feel excited to buy because interest rates are low, prices are favourable, or a certain home has come on the market, but don’t make the single most important purchase and investment decision of your life on a whim.
Take your time. Do your research, review your finances, visit your lender, and get to know your Team Hawke Realtor. Take advantage of the power of the internet to review many different types and locations of properties, and become educated about real estate. There are so many tools available to you as a prospective homebuyer that can be accessed for free online to quickly bring you up to speed.
Among the most important resources available are the Canada Mortgage and Housing Corporation (CMHC), the Canadian Real Estate Association (CREA), and our website teamhawke.com