Buying
Before you go looking at property, there are some things to consider first. For example, is it a Buyer’s market or a Seller’s market and what does that mean?
A Buyer’s market exists when housing demand is low and supply is high. You have more choice and room to negotiate on price. In a Seller’s market, housing demand is high while supply is low. There are more people buying and competing for fewer properties and therefore you may have to pay more to get the house you want.
Questions to ask yourself:
Where do you want to live and in what neighbourhood?
Do you want a new home or a resale?
How many bedrooms, bathrooms, extra living space, size of yard, proximity to schools, shops, hospitals, parks do you want?
What is your price range?
It is important to visit your bank or a mortgage lender before you go looking at homes so you know how much you can afford.
Viewing homes:
Take our printable Buying Checklist with you when touring homes. It is a guideline of things to look for while viewing a property. Take notes, jot down questions you may have. Pay attention to improvements as well as signs of wear and tear.
Remember, you can always hire a licenced Home Inspector (which we highly recommend) to inspect the home as well.