Your mind is made up, this summer is the time to purchase a new home. It’s exciting and life changing! However, with life changes comes decision making and the steps you take before walking into an open house can be the most important ones. Never fear, we compiled a list of things to keep in mind while you are searching for your dream home.
1. It’s a great idea to secure a mortgage pre-approval before home shopping. While the online calculation is a handy tool, your best bet is to talk to a mortgage broker.
2. Don’t be afraid of older listings! It’s easy to look at older listings and see it as a red flag. But thanks to the assumptions that are made about older listings, the delay can cause the price to come down.
3. Get to know the neighborhood. Picking the right area is important, so take time to scout out the community. You will notice things such as nearby parks, banks, restaurants or you might be lucky enough to meet your new potential neighbors.
4. The strongest offer is not always the highest one. Sometimes, an offer with less conditions will take precedence over a higher offer. There are also other ways to stand out such as taking the time to write a great offer letter.
5. Don’t let your emotions take over. Experts say this can be quite common with first-time home buyers. Keep in mind the resale value of your potential house purchase and remember to think with your head and not your heart, in this case.