2019 is proving to be the year of the buyers. Compared to last year, inventory has swelled and prices are down slightly. That’s fantastic for buyers, because you can finally buy a home comfortably. Last year, buyers were pressured to purchase any home due to increasing prices and severe lack of inventory. This year, with more inventory and less pressure, buyers are finding homes that will suit their needs and wants for many years.
This is a cornerstone blog that will link to all the most frequently asked questions we get from our buyers. It’s a holistic project, that is always growing, but for the most part we think it’s a pretty great guide for anyone looking to buy a home soon. Bookmark this page and come back to it throughout your search.
Hiring A Buyer’s Agent
The 2019 Real Estate Market is full of opportunites, but without the right agent you’re at a huge disadvantage. Below we talk about the most important considerations when hiring an agent, what to ask when interviewing buyer’s agents, and etiquette for what your realtor expects from you.
- What Do Buyer’s Agents Do?
- 9 Questions To Ask When Interviewing A Buyer’s Agent
- Etiquette For Working With A Buyer’s Agent
Searching For A Home
Most home buyers have unique financial, property and personal requirements that only a seasoned realtor can help with. However, below are our most common questions asked by buyers when starting their search.
- Our Personal Best Advice For Buying A Home
- What’s The Difference Between A Buyer’s Market And A Seller’s Market
- How Long Does It Take To Buy A Home?
- I Heard Realtor.ca Doesn’t Have All The Available Listings, Where Can I View All Homes For Sale?
- Timing The Market
- Condos Vs Townhomes Vs Detached
Once You’re Serious About Buying A Home, It’s Time To Get Financing. Below Are Our Top Tips For Financing.
Mortgages are not comparable based on rate alone. Often an ultra-low-interest rate mortgage will cost you the most to break, and comes with no extra repayment options. If you’re in a 25-year mortgage, you want to pay extra every month to pay it off sooner, and many ultra-low mortgages do not have the option for you to pay off the mortgage quicker. The quicker you can repay your mortgage, the less interest you pay. So a low-interest mortgage can end up costing you more in the longrun.
- Picking the right mortgage is almost as important as choosing the right house
- Buying without qualifying under the stress test
- How Do Lenders Qualify You For A Mortgage?
- Upfront Costs To Buying A House
Remember, homeownership comes with more unexpected expenses than renting. You should always budget to set aside money for unexpected breakages. A single roof leak can cause thousands in roof and drywall repair.
Understanding the real estate offer
After an accepted offer
- It’s common for the buyer to receive 2 additional visits, a home inspection, and if they are putting more than 20% downpayment but still need a mortgage, the lender will order an appraisal.
Once you’ve entered into a firm and binding contract, most of the hard work is complete. Now it’s time to get your final steps in order:
- Arrange utility hookups
- Book a moving company
- Book elevators if you’re in a condo
- Buy closing insurance on the sale contract
If you’re looking for a team dedicated to keeping their clients informed and educated during the sales process, contact us today. We’d be glad to represent you!