You are excited and looking forward to browsing the new homes – one of which might soon become yours! Yet, you aren’t sure what you should be looking for or doing.
Maybe you are new to home buying. Or perhaps, it’s been a while.
That’s why we came up with this essential home buying checklist.
- Figure Out Your Budget
Assess your income versus your expenses. Check out your credit score then, get a pre-approved mortgage. It’s best to have the mortgage part figured out before you look. There is nothing more disappointing than finding your dream home then, finding out you can’t afford it.
Further, make sure you have that down payment. Set a maximum amount. And don’t go over your budget.
Also, make sure to plan for other fees, such as taxes or homebuilding costs. Spend an afternoon going over your finances. It will save stress and panic later on.
- Set Your Priorities
What are you looking for in a home? Do you need 1 bathroom or 2? How many bedrooms? Do you need to be close to schools, amenities, or parks? Write down your priorities. You want to love your home. Make sure you are clear with yourself and your real estate agent about what matters to you.
- Choose Your Agent
Often, word of mouth is the best way to find a good agent. However, if you don’t know anyone who has recently moved, that may be hard to do.
The best option is to meet 2-3 agents. Set up meetings with them. Do a semi-interview process. See who you mesh well with and who you don’t. Again, research them ahead of time! Do they have experience? Are they trustworthy? What do the reviews say?
Then, sign a buyer’s agreement (and again, make sure to research a reasonable one beforehand so that you know what to expect and are met with a fair agreement).
We recommend checking out Team Forster in London, Ontario. They bring a wealth of knowledge and expertise in all aspects of buying and selling to the London real estate market.
- Start House Hunting!
Now is the fun part. You get to view and browse different homes and narrow down yours. After that, it comes down to placing an offer and hopefully getting approved. If you find a home you love, don’t play the waiting game. Often when you wait, it slips out from under you. It is a competitive market – know this and keep it in mind.
Eventually, you will have a set closing date and move-in date. Before you know it, you’ll be in your brand new dream home – a place where new memories will take place.
If you are interested in homes in the London, Ontario area, contact us at Forever Homes. We can help build your dream home – start today!