Choosing to work with a real estate broker is one of the best decisions that you can make when you’re looking for a home. Not only are these professionals highly trained and certified to help you with your find your next home, but they can also make sure that you choose the right home for your financial needs. Before you decide to meet with a real estate broker in the Greater Toronto Area, there are a few things that you’ll need to get in order.
Tip 1: Knowing Your Concrete Budget
It’s easy to begin looking at houses between $500,000 and $700,000, but it’s important that you know what your absolute final line is, otherwise you could find yourself in a horrible financial situation. In order to make sure that you can buy a house, you have to get a preapproval, which is the amount that the lender is willing to give you for your home. This preapproval amount will be based on the amount of money that you can comfortably pay with your current income. It’s important that you take all of your spending into account. For example, you may be able to afford a $2000 mortgage on a $5000/month income, but what is the other $3000 spent on? Would you be able to still afford your mortgage, go to Starbucks every day, workout at the gym, and pay off your car?
Tip 2: Being Realistic with Time
We all love the house hunting TV shows where people find their dream home in under 45 minutes, but that isn’t reality. There are going to be hundreds of things you’ll want in your home ranging from the number of bathrooms to the color of the hardwood floors. When you start working with your Toronto broker, it’s going to be a process and you can expect it to take time. From inspections, lawyer meetings, to property closing. Some homes can take months to be claimed.
Tip 3: Knowing the Neighborhood
Make sure that you have a general idea of where you want to move before you visit your real estate broker; otherwise you’ll be trying to find a needle in a haystack. Use a variety of online tools to not only do research on specific neighborhoods but to also compare them to one another until you find the right area that fits your personal needs and budget.
Tip 4: Necessary Amenities and Deal-Breakers
It’s time for you to now make a list of the different things that you’ll want in a home and other factors that would be a deal-breaker. All of these important components are essential for narrowing your choices down when it comes to looking at properties. The less properties that you have on your plate, the easier and faster you can begin the process of buying your home. Think about the number of bedrooms, the size of the property, whether it has central air, if the property is on a sewer line, etc. All of these important features can help you to easily find your dream home with the help of a real estate broker in the Greater Toronto Area.
Contact the team at Noble Mortgages, they will help you iron out the step by step details and get you into your dream home faster!
416-241-2227 We’re bringing you home!