3 Things Every Home Buyer Should Know Before Buying a Home

For many people who are living in major cities such as Vancouver, Toronto, or Montreal, the thought of buying a home seems like a faraway possibility. While, for those living in Ottawa, Calgary or Halifax purchasing a home is (somewhat) within possibility. Before one makes the decision to go from renting their one-bedroom shoebox home in the sky to a more spacious townhome, there are a few things a homebuyer should be aware of. By thinking of these three questions, homebuyers can get a better sense of the market, but more importantly, they can ensure they are informed with all the tools to make the purchase of a lifetime.

What and When

The housing market (depending on your city) may feel like it’s always on the rise or that there are never enough homes or choices available. While this may feel like it at times, the reality is that there is a paradigm that shifts when it comes to the housing market. There are times where the buyers’ market is hot, and those looking to get into the market can benefit greatly; however, when it is a sellers’ market, those very people may find themselves struggling to find that perfect home, but they may also find themselves paying a lot more.

Before taking that step to looking for a home, see what the reports are saying about the housing market. Is it a buyer or a sellers’ market. If you are in a rush to move out or if you have time to ride the market out – this can help the process. Not to mention, in Canada, where the winters are long, this can sometimes be a double-edged sword. The deals may be out there; however, the home inspections may not always reveal all because of the snow.

Location, location, location

Ever go on the Realtor app and see a home and think to yourself, there is no way that home is worth that? Well, it could be that the house may not be worth what it’s being sold for, but the location is. It can be handy to do your research when entering the real estate market and know what you are willing to spend the money on. Are you ready to pay more for location and neighbourhood or are you willing to pay more for space? In Ottawa, certain districts offer million-dollar listings, while if you just cross the street, the homes are worth a fraction of the cost. The difference? One has a reputation for “being hood” while the other is much more family-friendly and up and coming.

Know the Home Inside and Out

Pictures can be deceiving, which is why it is crucial to not only visit the house (preferably more than once) but also to have it inspected by a certified home inspector. Sometimes a fresh coat of paint can cover more than a scratch, which is why it is vital to have experience on your side. The last thing you want to do after spending all your savings and investments is to find out that your “new” home actually requires hundreds and thousands of dollars in repairs and upgrades. Don’t be afraid to ask questions and don’t be scared to go back to check the house out with a fine-tooth comb.

At the end of the day, when you are looking at the real estate market and making the leap to invest, you are doing more than just buying a home. What you are doing is investing in your future and finding that place to call your own. Whether you are moving out, looking to upgrade for your growing family, take the time to ask yourself the following, and you’ll be prepared to enter the market prepared and informed.

Whether you’re looking to buy or sell in the Kamloops area, for a greater probability of success you need a dedicated professional. I can guide you through the process and be counted on to protect your investment!

Categorised in: Buyers, Kamloops, Real Estate

This post was written by kamloopshomesearchcom