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How to Be Successful in Purchasing YOUR New Home

Reblogger Sana Solanki
Real Estate Sales Representative with Kingsway Real Estate

Are you a first time home buyer, or even if you are in the market to buy your next home.  Here is some great informtion how to get prepared and successful in the process of buying a home.

Homes in Brampton from 800,000 to 1,000,000

Original content by Myrl Jeffcoat


It’s no secret that in many areas around the country, homebuyers find it difficult to find their perfect home. 
Housing inventory in some towns and city is low.  Investor activity is high, and competition for desirable homes in good repair is high.

As a fact of life, real estate professionals accept there will be a certain number of homebuyers, who will sometimes lose a house they’ve found and would love to buy.  There are a number of reasons why this may occur.

It is important to understand, that homebuyers do not generally pay commission on homes, therefore buying a home without professional real estate representation is not only unnecessary - in today's world, it can be risky.  

(1) Desirable homes, which are priced well in a brisk real estate market, often command greater interest from homebuyers. If a buyer lingers in making a decision and doesn't act quickly, someone else can buy the house.  It is especially true if the home is in a good neighborhood.

(2) Low-balling an offer for a house already priced well, and receiving loads of buyer interest, can have the buyer losing out because they were outbid by someone else.  Serious homebuyers should aspire to make the most attractive offer they can.   

(3) Getting prequalified and preapproved by a lender is paramount. Buyers failing this important step in the home buying process, often miss out on the best deal.  It’s important that prospective homebuyers determine how large a mortgage they can qualify for, and consider different types of mortgages available. 

(4) Consider the resale value of the house before purchasing. There are certain features that can hinder a property in marketing - That 1 car garage for example; or 1 bath home. Cosmetic issues with a house - like that peach colored shag carpeting and 1970s wallpaper, can easily be remedied. But it is costly to overcome the need of an additional bathroom, or that small garage.

(5) Likely the most important thing some homebuyers fail to do, is find the best real estate professional, willing to work with them through the home-buying experience and process.

An experienced real estate professional, will educate about the home-buying process, and acquaint with important issues which require consideration and understanding, so successful acquisition of a first home comes with few road blocks and is a more joyful experience.