Many people have the dream of owning real estate. However, if you enter the journey unprepared then your results may not be what you had hoped for.
To prepare yourself for the decision of buying a home, consider your answers to the following questions:
- Are Your Finances in Order?
Based on your income and credit, you need to be aware of how much you can spend and what neighborhoods and home sizes are in your price range.
Consider pulling your credit report about 6-12 months prior into beginning your home buying journey so that if there are any issues, they can be fixed well in advance.
- Are You Planning to Stay Put?
If you don’t think you will be staying very long, purchasing real estate may not be the choice for you.
With a high transaction rate, it is important to hold onto the asset that is your new home for at least few years in order to prevent losing equity. If you can’t commit, then perhaps you should keep renting or find a property you can commit to.
- Have You Found an Agent?
It is important to have the right agent to advocate for you and help you find the best home to suit you and your needs.
You can do this through word of mouth, or researching online and on social media for an agent who knows your area well.
- Are You Being Realistic?
It is crucial you do the research and crunch the numbers so that you fully understand the implications of the responsibility of owning real estate.
Owning property can be are a real asset if you make smart, deliberate decisions within your limitations.
- Are You Moving Too Fast?
Take your time in deciding what area and what kind of home you need to continue creating a life for yourself.
While the real estate market may fluctuate, it’s better to go into it being confident in your choices. This is a big decision, it’s okay to ask questions!
Considering a move? Give me a call at 604-218-9000 for a Complimentary Home Evaluation!