Spring is finally here and all over the city real estate signs have popped up everywhere teasing of listings that are coming soon, and poised to hit the market. Are you going to be ready to hit the ground running when the place of your dreams hits the market? Below are five things to consider to get you ready to play the real estate game for the 2016 season!
- Figure out your finances
Get an idea of what your budget looks like, what kind of mortgage you’ll qualify for, what your credit score is (and what that means to you), and what kind of down payment you’ll be able to provide. This will help you narrow your search.
- Interview and line up your professionals
Get connected with the right real estate agent, home inspector, and mortgage broker to make sure that you have easy access to the services you need when time is of the essence, and that perfect listing is posted.
- Scout your neighbourhoods of choice
A little research or time spent at an open house or two, or even a bit of time on Realtor.ca (MLS) a couple of months before you start looking to get a better idea of price ranges and potential areas to look. It will also help you take a more informed look at what you’re able to afford.
- Figure out what you’re looking for, and then learn to be flexible
Make a list of your must haves and like to haves knowing that this list might change based on time, location, and a variety of other factors, including the changing real estate market. A basic idea of what you want is a great jumping off point, just be sure to keep an open mind!
- Learn to be patient
Just like batting practice, it may take time for you to hit that home run. Sometimes you’ll put an offer on a place only to have it caught by another player. Don’t get bid happy and go over your budget, this is something you’re bound to regret for years. Other times you’ll show up hoping to see a fantastic listing only to find that the photos of the place online were much better than the real deal. Whether this is going to be your “forever home” or somewhere you’ll be living for a few years, you want to make sure that you’re not always going to hit the fences. Sometimes it can take months, or longer to find the right fit for you, but it will be worth it!