The home-buying process
The Home Buying Process: Do You Understand It?
The more you know about the best way to achieve your goal, the better your chances of being successful are. This holds true whether you’re job-hunting, assembling furniture, or training for a sports competition.
Using a proven process will help you get there every time.
So why not use this when shopping for a new home?
There is a proven process to acquiring the home you want, in the
neighborhood you want, at a price you can afford.
So let's break it down:
1. Get Ready
BEFORE YOU HOP IN THE CAR: If you own your current home, you
need to get it ready to sell. Call your REALTOR® for guidance with this. Be sure to also get financing for a new home pre-approved, so you know exactly how much you can afford.
2. Go shopping
Your next step is to view the right homes currently available on the
market. Your REALTOR® can help you find the best choices out there. Make a wish list of property and neighbourhood features you’re looking for in a new home. You may not be able to get everything you want, but you can probably come pretty close.
3. Make an offer
You found your new home! The first thing you’ll need to do is to
make an offer. This can be tricky especially if there are other
interested buyers and this is where your chosen agent can really shine, negotiating the best price and terms for you. This will be possible because you followed step one and got pre-approved.
4. Get an inspection
Always, always, always: Get the home checked out by a qualified home inspector. A
property may have issues, such as a foundation leak, that are not
obvious during a viewing. Do not get caught without the inspection clause in the offer!
5. Prepare for the move
Once you’ve made the purchase, you need to arrange for moving
and deal with other details, such as utilities, telephone, mail
forwarding and so forth.
Remember: Proper planning leads to successful results and less stress during the process.