Before You Purchase A Home
Your first step toward buying your new home will be to analyze your needs. We can assist with this task so that you will be able to get a clear picture of exactly what you want your new home to look like and how it should function for you and your family. First, you should write down why you are looking for a new home. Second, establish a time frame that you would like to stay within for buying your home. Last, you should make two lists: one should be a list describing your dream home and the other should list the features of the home that are an absolute must have in order to buy it. In a perfect world, your new home would fulfill both lists 100 percent. It is more likely that you will end up blending the two lists into a schedule of prioritized items as you progress through the buying process. This is a natural and evolutionary process as you get clearer about what you want and what is available.
You are going to need to know in what price range to look. There are two ways to go about this. You can get pre-qualified or pre-approved for a mortgage. Either way, you will need to contact a mortgage company.
Loan Pre-qualification is a simple process. It takes into account very basic information regarding your financial status and gives you an amount for which you may qualify. This can be done strictly on a verbal level or electronically over the Internet. The pre-qualified amount is based solely on the information you provide.
Loan Pre-approval is a much more involved process. The lender will take all pertinent information regarding your finances and perform an extensive check on your current financial status. This will ultimately give you the exact amount that you will be eligible for.
People don't just buy a house; they buy the neighbourhood the house is in. So, you will need to make another list of what type of neighbourhood you want to live in. You will most likely want to consider things like your drive time to and from work, what amenities are offered (swimming pool, tennis courts, park, etc.), and, if you have children who are attending school or soon will be, what school district you will be in and how close the schools are.
We can help you consolidate the information from your list of needs and wants for your home, your pre-approval, and your list of needs and wants for the neighbourhood. From this, you can incorporate this information into a broad search profile, which will then be narrowed down to specific areas dictated by the market in which you will be looking. Our experience in local markets will be an invaluable resource during this step.
Taking that information into consideration, you are ready to embark on your property search. There are a few ways to go about this. Possibly the most efficient way to find properties is to allow us to keep you up-to-date on available properties that meet your criteria, and then allow them to screen these properties for you. When they present you with a property that interests you, they can arrange for you to tour the property at your convenience.
You can also access local publications highlighting available real estate in the area; contact and visit the local Chamber of Commerce, look on the Internet; and even drive through areas that you feel would meet your needs. Driving around a particular area looking for properties for sale is good because you can actually see the property. However it can be very time consuming and it is a "hit or miss" process.