Buyer Tips
Make sure you-re ready
Decide if the timing is right
Be prepared to make sacrifices
Remember your home will require constant care
Have your finances in order
Manage your debt
Consider your family-s future needs
Decide what you want
Carefully consider the options available
Prioritize your lifestyle needs to find the best property fit
Urban – big city living
Suburban – modern neighbourhoods
Small Town – close community living
Rural – country living
Learn and understand real estate terms
Single-family Detached – free standing house; styles range from a single-story suburban bungalow to a three-story Victorian
Semi-detached/Linked - two houses that share a common wall; usually less money than a fully detached home
Duplex: a building zoned for two families
Town House - comprised of several homes with a common style and joined in a row
Condo – you own 100% of the unit and have access to common facilities such as gym rooms, party rooms, and pools. Have to pay condo fees for the building's overall maintenance.
Resale – an older home that may or may not have been renovated and upgraded
New – a home being developed and built where you will be the first owner
Sell your current home
Usually people cannot afford to manage two homes and the associated mortgage payments at the same time
When should you sell?
Seller's market – when there are many people looking for homes, but there are not many available on the market
Buyer's market – when there are many homes for sale, but not many people are buying them
The time of year can also affect how quickly you can sell and buy a property
Winter sales tend to be slower, spring sales are tend to be quicker
If you need to sell fast
Ask a REALTOR® for help establishing a price and for making your home look attractive without making you look desperate.
Sometimes you can time your current home's sale with the future home's purchase
Can make the sale of your home "conditional"
Can try to extend the "closing period" to have more time to find your next home
Smart to enlist a REALTOR® for professional services, just like you would hire a mechanic or dentist