Buying a home is an awesome experience; its fun to search for new homes in your budget, and even more fun to think about how you would decorate it, having family get-togethers, and maybe starting a family in your house. But, all too often, people make mistakes, especially when it comes to buying their first home. If you want to buy smart, here are a few tips you will want to keep in mind.
Draw Up A Budget and Stick With It
All too often, people make a budget and then they don’t stick to it for one reason or another. Make sure you sit down either on your own or with your mate and make sure you figure out exactly how much you can afford for the house. One of the best things you can do is to try an online mortgage calculator which will help you figure out the exact amount you can pay each month for your mortgage as well as how much you will have to put down for the down payment. They also give you various options such as 30 years mortgage and 15. Unfortunately if you fall in love with a house and the down payment in addition to the fixed expenses you have is too much for you to bare, you are going to simply have to walk away from it!
Hire A Real Estate Agent
Not many people realize it, but hiring an agent is actually very beneficial to buying a home. Not only do they deal with all the real estate jargon, and are experienced in finding YOU the best home possible, but they can help talk the seller down to a lower price, they have a list of MLS properties to show you that are IN your budget, and they can help deal with seller to buyer communication. Real Estate Agents are an essential tool to any buyer. A good realtor will be in your corner from start to finish to make sure that everything goes smoothly. Start with CMHC when you are first time home buyer and it’s a really good idea to get advice from an experienced real estate agent who is well connected in realtors network.