Niagara Real Estate Blog

First time home buyer in Niagara? Here's how to survive the process

Posted by Terence Davids on Apr 18, 2017 3:00:00 PM
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At Team Davids, we understand how scary the first time home buying process can be. Buying a home will be unlike most purchases you make in your life, and it will definitely be the biggest purchase you’ll make in your life. Make sure you know what you’re doing, and you have the help you need to make the best purchase decisions in this process.

To help you out with this, we compiled a small checklist of things to keep in mind when you’re buying a home for the first time.

Make sure you’re pre-approved

It may seem simple, but it’s never worth forgetting - get your financials in order before you start looking for a house. Get pre-approved for a mortgage, and know how much you can spent. Make sure to spend time saving up for your down payment and getting everything in order so that you know once you start looking what you have been approved for and what you haven’t been.

Getting this in order before you even start looking at Niagara homes for sale is important, because if not you might wind up looking at homes in Niagara and falling for them when you’re not actually able to afford them.

Find a good Niagara realtor

Don’t just go with the first real estate agent you see a sign for. Do some research and find an agent who has the expertise and knowledge that you need to make the home buying process easy for you. This is especially important for first time home buyers - you need someone you can trust to help lead you through this process and give you the advice you’ll need.

Make sure you have someone you not only trust, but also someone you get along well with. You’ll be working with them pretty closely, so make sure you find a real estate agent who you can talk to and have a good rapport with so you can work easily together.

Set a budget - and stick to it

This is where being pre-approved for your mortgage comes in handy. Make sure you have your budget set for once you buy the house too before you purchase a Niagara home. Understand what your payments will be and see how that will fit into your current lifestyle. Will you be able to afford those payments continuously? What will you have to give up to make those payments?

You don’t have to spend every cent the bank will approve you for. Make sure you’re not strapping yourself down to something you can’t realistically afford in the long run. This includes taking on a home that needs massive renovations - think about what those will cost, if you can afford them, and if they’re worth it in the end.

Buy with your head, not with your heart

The saying goes: don’t judge a book by it’s cover. The saying can apply to real estate too: don’t judge a home by bad wallpaper.

Don’t be too emotional when you make this purchase decision. The house you choose won’t look exactly like you want it to when you move in - a coat of paint can fix up a room more than you’d think. Simple fixes can be easy and inexpensive, and they can make the first home you buy feel much more like it’s yours.

Work with Team Davids

Team Davids has the expertise and the know-how that you need during this process. With our team you’re in the best hands to make the right decision about what home to buy. Connect with us today to meet and get started on this exciting new step in your life.

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Topics: First Time Home Buyer

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