“When I Start Visiting Homes, What Should I Look For?”

The house or condo you ultimately choose to call home will play a major role in your family’s life.  A home can be an excellent investment, of course, but more importantly, it should fit the way you really live, with space and features that appeal to everyone in the family.

As you look at each home, pay close attention to these important considerations…

• Is there enough room for you now and in the near future?
• Is the floor plan right for your family?
• Is there enough storage space?
• Will you have to replace the appliances?
• Is the yard the size you want?
• If it’s a condo, is there good security?  Is the reserve fund sound?  What’s the view like?
• Are there enough bathrooms?
• How much renovating and/or decorating will you need to do right away…or within the first 2-3 years?
• Will your furniture suit this home?
• In what condition are the “bones” of the house, such as the furnace, the wiring, the plumbing, the foundation, or the roof?

“How Many Bedrooms Do I Need?”

Whether or not you are married, or do or do not have kids, spare bedrooms come in handy when family and friends come to stay.  When you’re not entertaining guests, extra bedrooms are useful as a library, den, or TV room.  Another good reason to choose a home with extra bedrooms is the extra space will make your home more appealing to a large number of interested buyers when it comes time to sell.

“How Do I Know For Sure How Much Home I Can Afford?”

Affordability is probably the single biggest concern of today’s first-time home buyers.  Given the wide range of media coverage regularly devoted to the issues, it’s not surprising that many young people wonder how long it will take before they can afford their first homes.  Don’t sell yourself short.  Talk to you Realtor®.  As real estate consultants, they are committed to honestly and responsibly working with you to determine your affordable price range.  There are many financing options available today and some include low down payments.  Find an option that fits your budget and you may be surprised at just how much home you can afford.

“What Should I Tell My Agent About Homes We Look At?”

Open communication is critical.  Tell your Realtor® everything you liked AND, more importantly, didn’t like about each home that you see.  After all YOU are their client and they are working for you.  Don’t be shy about talking about a home’s shortcomings.  Is the home too small for your needs?  Let your agent know.  Was the home perfect except for the carpeting?  Let your agent know that, too.  The more open and descriptive you are, the easier it is for your Realtor to “zero in” and find a home you’ll love… To find a house that feels like home!

“What Should I Ask About Each Home That I Tour?”

As a rule of thumb, ask any questions you have about specific rooms, features, or functions.  Pay particular attention to areas that you feel could become “problems,” such as additions, defects, or areas that have been repaired.  Take not of the age of the heating system and the roof, the type of windows, the state of the foundation, and the amperage of the electrical system, etc.  And, above all, if you don’t feel your questions have been answered, ask until you do understand and are satisfied.  In most cases, your real estate agent will be able to provide you with detailed information about each home you see.  I will provide you with worksheets to note room sizes, features that need a second look and other comments.

“How Many Homes Should I Look At Before I Buy?”

There is no set number of homes you should look at before you decide to make an offer for one.  That’s why providing your agent with as many details as possible up front is so helpful.  The perfect home may be waiting for you on your first visit!  Even if it isn’t the house-hunting process will help you get a feeling for the homes in each community and narrow your choices to a few that are worth a second look.  Sometimes seeing many houses can become confusing!  An excellent way to differentiate each home is to name it!  Call it the “cat house” if there were several cats, or the “deck house” if the main feature is the deck.  This will make it easier to remember and to reach a decision.

“Home-Hunting Tips”

• How much do the utilities cost on a monthly basis?
• Have you (the owner) had any problems with water or dampness in the basement?
• Are there defects or problem areas that need to be fixed now?
• How old is the furnace and central air conditioning system?
• How old is the roof?  Has it leaked?  Has it been repaired or replaced recently?

OBJECTIVITY, KNOWLEDGE & TRUST

There is a lot to consider when you decide to buy a home, especially if it is your first.  How much home can you afford?  What kind of loan should you choose?  Which neighbourhoods are both affordable and a good investment?  These are just a few of the questions you’ll be asking yourself.  But with an experienced agent to help you, you’ll get the guidance you need to come up with the right answers and a home you will love.

The simple three step approach consists of:

Approach The Home Buying Process Objectively…

• No perfect house… 85% rule
• The good ones go quickly
• Avoid second guessing syndrome… commonly referred to as “Buyer’s Remorse”

After Viewing Each Property Ask Yourself 3 Important Questions…

• What did I like about the property?
• What, if anything, would I want or need to change?
• If the price were right, could I see myself owning this property?  If yes, at what price?

Remember You Have 3 Safety Nets Available To You…

• Your judgement as an educated/informed buyer
• The Customized Market Analysis (CMA) prepared by your agent
• The option of a home inspection