Buyers: 3 Things you MUST do to be “purchase ready”

It does not matter if you are a first time home buyer or a seasoned home owner; there is a very important “to-do” list you should consider when ready to start your property search.

1. Get a pre-approval done BEFORE you start viewing properties
A mortgage pre-approval will give you an idea of the financing you qualify for while also showing sellers you are ready to commit. Having an approved dollar figure will help you be more efficient when viewing properties (ie. no more getting excited and viewing homes $100K over your approved budget, only to be disappointed when financing doesn’t come through). A pre-approval can also be the difference between having an offer accepted or rejected. Believe it or not, some sellers will accept a lower offer that has no conditions on financing as this means there is a lower risk of the buyer having to cancel the deal.

2. Make a list of your non-negotiables
You don’t have to know the exact street you want to purchase on, but you should have a mental list of some important landmarks and home details that you are set on. This list could include the style of home you are looking for (ie. 2 story vs multi-level), if a home has a finished or unfinished basement, or the proximity to schools, a rec centre, or your work. Knowing this ahead of time will help us narrow in on the available properties that suit your family’s needs best (while also helping you avoid buyers remorse later).

3. Know your agent
Do your research! If there is a particular team or real estate agent that interests you, look up their social media and websites. What are their reviews like? What do their public pages say about them? Do they understand the needs of a family with children? Are they experienced in condominium real estate? Do they seem knowledgeable and involved in your community of interest? Picking someone who is the right fit for you will make a big difference in how you feel throughout your search and transaction.

Do you feel ready to start house hunting? Feel free to reach out with any questions you might have!

Ashley Bergner