Choosing a home is a big decision, both financially and in terms of it changing your lifestyle forever. If you choose wrong or make a mistake, it could affect your buying power and happiness for years to come. So before you sign the deal for that dream home, read over our tips for buyers to make sure you're doing the right thing for you and your family.
Be Financially Responsible
We cannot stress this point enough. Just because you are of a certain age or you see a property that is cheaper than it was a few years ago does not mean you can afford it. Carefully review your finances and see if you can afford Brampton homes for sale let alone an Ottawa house. Remember: the experts agree you should have 20% of the purchase price saved as a down payment and spend 30% of your income on mortgage payments. If you can't make this, we suggest waiting.
Take Your Time
Once you have the finances there's no need to rush into picking out a home. Even if you've already had to move out of your old home because it's been sold, rent an apartment or live in a motel until you've found a home that's not just "good" but "perfect." You'll thank yourself later. If you're unsure, it probably means you don't love it, so keep looking. Your perfect home is out there. If you find one you fall in love with, make an offer. Who cares how many more homes there are to look at?
Some people have this impression of realtors as swindlers who just want to make money off of you so they can expensively furnish their property. While you should always carefully interview a realtor before enlisting their aid, realtors are an invaluable resource when looking for a home. And best of all, they don't get a commission from you unless you're the one selling the home. They know the neighborhoods, what prices are fair, and how to negotiate, so things go smoother when they're around.
When you're picking out a place to live, think not just about what you need or want now, but what you will need or want in the future. For example, you and your finance might want a condo to be downtown near your workplaces right now, but if you're planning on having kids down the road, it might be better to invest in a more spacious suburban place.
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