North Bay Real Estate - 7 Tips For The First Time Home Buyer

2009-12-28T15:57:00.000-08:00

North Bay Real Estate – 7 Tips for the First Time Home Buyer

If you are a first time home buyer, these 7 tips will address the most important issues to help guide you in your decision process. I trust you’ll enjoy “North Bay Real Estate and the 7 Tips For The First Time Home Buyer”

Get Preapproved for a Mortgage. Before getting too far down the home search path it is always best to have an idea of how much home you can afford. Arrange a meeting with your financial institution to go over your personal financial situation. This will help you determine the amount of monthly payment you can afford after factoring in extraneous costs that come with home ownership. Establishing a realistic budget you can live with at the beginning is essential!

Work with a REALTOR® Ask your family and friends for recommendations then meet and interview a short-list. Choose a REALTOR® that you are comfortable with and matches your personality or approach. A professional REALTOR® will do most of the ‘leg work’ on your behalf saving you time and effort in seeking out the best possible listings based on your personal wants and needs.

Research the neighbourhood. Once you have found a house, be sure to check out the area that house is in. Amenities, schools, shopping and public transit are something that you may or may not want next door to your new home. Visit the neighbourhood during a week day and on the weekend, as well as at different times of the day to get a ‘feel’ for the neighbourhood.

Think about resale. As a first time buyer this is likely the first of several homes that you will own. You will eventually want to move on to another home for a variety of reasons. The real estate market place is like a chess match, you need to plan several steps ahead. So put some thought now into what will make your house desirable to potential buyers down the road.

Do not wait until spring. Spring is the busiest real estate activity period with the largest inventory on the market and is the traditional buying time. However, that does not mean that there are no suitable homes available on the market at other time periods of the year. Buying opportunities are available year round. Knowing what you want, your REALTOR® can help you move quickly on an opportunity that presents itself outside of the spring activity period.

Falling in love with the first property you see. Many home buyers, particularly first time home buyers, often get caught up in the emotional excitement and passion of home buying and as a consequence, fall in love with the first house that they see. To minimize the effect of emotions on such an important decision you need to commit to seeing at a minimum of three homes before making a decision. By doing so, you will get an idea of what the comparable homes are in your price range, allowing you to make a better informed buying decision.

Buying a house for its décor. Remember, you are buying the house, not the things inside of it. Some homes may be professionally staged to hide flaws and maximize their appeal. You need to look beyond the furnishings and concentrate on the ‘bones’ of the house such as the floor plan and the square footage. You may want to take measurements and quickly see if all your furniture will actually fit into the new home. This is especially true if you have any oversized furniture, king size bed etc

Please feel free to share this article: “North Bay Real Estate and 7 Tips For The First Time Home Buyer”

As a registered real estate sales person I am familiar with the North Bay Real Estate market. If you are a first time home buyer, I would be pleased to work with you in finding you your first home. Please feel free to contact me directly at: rob@robertsteele.com

North Bay Real Estate - 7 Reasons To Work With A Realtor

2009-12-12T08:03:00.000-08:00

North Bay Real Estate - 7 Reasons To Work With A Realtor

1. Emotions. A home is not just four walls and a roof. It symbolizes your family, your place of rest and your place of security. Because of this, buying or selling a home can be an emotional undertaking. Because of the emotional component, having a concerned, but objective and professional third party helps you stay focused on the issues most important to you.

2. REALTORS® have done it before. Most people buy and sell only a few homes in their lifetime. Even if you’ve done it before, laws and regulations change. REALTORS®, on the other hand, typically handle a dozen or more real estate transactions in a year. Having an expert on your side is critical.

3. Marketing Power. Real estate does not sell due to advertising alone. A REALTOR® has a network of contacts developed through previous clients, referrals, friends, family and numerous others. A large share of real estate sales comes as a result of this network.

4. Best property. Sometimes the property you are seeking is available but not actively advertised in the marketplace. Your REALTOR® seeks out these properties on your behalf to find the best property to fulfill your particular needs and requirements.

5. Negotiating Experience. There are many negotiating factors, including but not limited to price, financing, terms, possession date, and inclusion or exclusion of repairs, furnishings, or equipment. A purchase agreement should provide a period of time to complete appropriate inspections and investigations of the property before being bound to complete the purchase. A REALTOR® can advise you as to which investigations and inspections are required and recommend any others to protect you.

6. Expert Guidance. Buying or selling a home usually requires multi-page documents, including but not limited to, offer to purchase, disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and so on. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

7. We Are The Professionals. A REALTOR® is sensitive to the importance you place on the major financial commitment you are about to make. A REALTOR® makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public and undergoes continuing professional education. As a customer of a REALTOR®, you can expect honest and ethical treatment in all transaction-related matters.

As a registered real estate sales person in North Bay, Ontario these 7 reasons to use a realtor are some of the many benefits that I can offer you personally. Please feel free to contact me directly at mailto:rob@robertsteele.com

North Bay Real Estate - 7 Reasons To Work With A Realtor