If you are considering leaping to move on up in the world and find the home of your dreams, you have plenty of things to tick off your to-do list besides curating the ultimate Pinterest board of aspirational ideas and themes for your new home. It all begins with planning and identifying the most suitable resources for your specific needs. Here are some helpful tips to get you started.
Work with a Qualified Buying Agent
If you try to enter the home-buying process on your own, it will likely become a daunting and frustrating process. Make it easy by working with a qualified buying agent. Your agent will work on your behalf to help you find the right home for your needs that is within your budget and in an area that works for you.
A buying agent understands the ups and downs of the real estate market and knows how to navigate this competitive arena. They are well-versed in the negotiation process and know how to secure the best deal. Fortunately, or unfortunately, depending on your perspective, your buying agent will also help you with the hard truths if a home you fall in love with looks to be a money pit. Their job is to inform you while looking out for your best interests.
Create a Budget
Home buying and budgeting are almost synonymous. If you do not know how much money you have and what you spend it on, you cannot fully appreciate the amount of money you can spend on a dream home.
Carve out time in your schedule to fully assess your finances. Gather documents, emails, and billing statements. Create an easy spreadsheet that shows your income and every bill or expenditure you have. Include the amount of money you spend on non-essentials, such as clothing and shoes, eating out, and entertainment. Remember to factor in vacations and pet care.
Once you have this information at hand, you can better determine what you will be able to afford in a new home going forward. After all, even if you can afford your dream home, if you do not have any money left over to live your life, you may need to rethink which home you want.
Watch this video from a qualified accountant regarding the benefits of buying a house versus a flat.
Research Locations
Your buying agent is your go-to expert for offering guidance when researching neighbourhoods to ensure you find a new home in an area that is conducive to fulfilling your dream of a successful future. They should be familiar with the area and be able to educate you on the nearby amenities.
Some key factors to look for include:
- Proximity to work
- Distance to school
- Nearby green space
- Local grocery stores
- Access to public transportation
- Neighbourhood noise
- Neighbourhood traffic
Learning about these key things early on in the home-buying process will help you eliminate unappealing areas and focus your attention on an ideal location.
Finding a dream home is a realistic goal that you can attain. All you need is the right agent to partner with, a rational assessment of your finances, and determination to get the right home for you.
