Your Steps to Home Buying Success

New homes and condos come on the market every day, and the good ones sell quickly. Potential buyers need to act fast in order to secure that perfect property. You can beat other buyers to the hottest new homes on the market by following these steps:

Step 1: Decide What You Want in a Home

The first step to finding the right home is to determine what it is you’re actually looking for. To help narrow your focus,ask yourself these three questions:

WHAT LOCATION BEST FITS MY LIFESTYLE?

What communities or neighbourhoods will you consider? Is it important to be near the ocean, schools, shopping centres, recreation facilities, places of worship, hospitals, or other amenities? Will you require public transportation?

WHAT TYPE OF HOME BEST FITS MY LIFESTYLE?

What style of home is best for you? It could be a detached home, a semi-detached, a bungalow, a split-level, a two storey, a duplex, a townhouse — the options are endless! You may also want to consider your ideal lot size and the age of the home.

WHAT ARE YOUR MUST-HAVES AND WHAT ARE YOUR DEAL BREAKERS?

What's most important to you in a home? A home office? All the bedrooms on one level? How many bedrooms? How many bathrooms? Do you have family members with special needs? And, what can you absolutely not live with in a home? Carpet? Stairs? A pool?

Step 2: Understand How Much Home You Can Afford

Knowing how much house you can afford is a huge advantage in your home search. Obtaining lender pre-approval helps you to narrow your search to homes that fit your budget and shows sellers that you are a serious, qualified buyer. Need recommendations for experienced, reputable lenders? I work with some of the best! Contact me for a recommendation.

Step 3: Find the Right Agent

Most buyers today work with a real estate agent for many reasons. A great real estate professional will provide key market insights, sound advice and save you valuable time and money — all while helping you reduce the stress that can accompany such a large purchase, so that you can truly enjoy the experience of buying your dream home.

Step 4: Find the Right Home

Once you've made a list of must-have's in your new home, received lender pre-approval, and found the right agent, it's time to start house hunting. Most buyers start their home search online, and this website is a great place to begin. You can browse all Vancouver Island homes for sale, save and share your favorite properites, sign up for new listing alerts and more. And when you're ready to view homes in person, just contact me to schedule a showing.

Step 5: Make an Offer on the Home

Now that you've found the home you want, you have to make an offer. Your real estate agent can provide out how much comparable homes in the area have sold for, and help you determine a reasonable offer price. Once you've made your offer, don't think it's final. The seller may make a counter-offer to which you can also counter-offer. Once you've agreed on a price and made an earnest money deposit, which is money that goes in escrow to give the seller a sign of good faith, you are on your way to becoming a home owner.

Step 6: Close on Your New Home

Buying a home for the first time doesn't have to be a hassle if you're prepared and you know what to do and when to do it. If you've chosen an experienced home loan lender and a friendly, knowledgeable real estate agent, they will make your home buying experience a smooth one.