Buying a new home is an emotional experience for a lot of people. The process is usually very time-consuming and filled with important details. Buyers are generally very excited while shopping for a new home in Halifax. In this excitement, they end up overlooking some very important details. In result, the home buying process becomes too expensive for them. These are the common buying errors:
- Paying too much.
- Losing home to different buyer.
- Buying wrong home
If home buyers have a list containing a systematic plan with them, they will easily be able to avoid the buying errors.
These home buying tips from our experts will help you in buying the right home:
Researching the real estate market
Do you know that you can lose thousands of dollars if you offer a price to the seller without researching the market? Unless you look at comparable homes, you wouldn’t know whether the seller is asking for a price that’s too high. Therefore, before making an offer to the seller, research the Halifax real estate market well. A professional Halifax real estate agent can help you with your research and can give you an unbiased opinion about the right value of a home. His opinions will be based on the condition of the house, the real estate market in that area and last but not the least, the surrounding area. Without this knowledge, you could be paying too much for a home in Halifax, or for worse, you might lose out on a great home buying opportunity!
Needs vs. wants list
Do you have a needs vs. wants list? Knowing exactly what you want in a home and being able to differentiate between your needs and wants, will put yourself in a much better position. Often, it has been found that buyers end up buying a home which is either too big or way too small. In the excitement of buying a home, they forget to think about how far away the home is from work, or from school. They also forget to consider the repair work that the home needs. This is why our experts will always advice you to plan ahead. You should always have your needs vs. wants list handy while looking at potential homes in Halifax.
Before buying a home in Halifax and signing any documents, you should definitely confirm that the home you are buying is free of all encumbrances. If you want, a Halifax realtor can give you a copy of the title so that you can check that there aren’t any debts, or undisclosed owners of the property.
Complete home inspection
Just by spending $300 – $500 dollars, you can hire a professional inspector who will do a complete inspection of the home. This inspection will give you a good idea about the future repairs and how much they are going to cost overtime.
Getting financial pre-approval is a matter of few days. Pre-approval gives you more power and allows you to negotiate well with the seller. It also makes you a serious buyer, and so the sellers will be more interested in accepting your offer.