If you have finally reached the point in your life where you want to purchase a home, you are probably browsing homes online to see what you like and what the market offers at what prices. While this part is fun and engaging, homebuyers also have to take certain steps that may not be as fun as looking at homes but are yet vital to get through the home buying process as smoothly as possible. Here is how you can help yourself prepare and enter the market more confident and more knowledgeable.
A mortgage pre-approval helps you start off right
Everything starts with a defined budget at the lender’s office. Even if a pre-approval is not mandatory, it will make things easier for you in the long run:
a) you will know exactly how much home you can afford;
b) you will narrow your search down to the available price range;
c.) a pre-approval makes you more competitive in the market as you’ll have a clear advantage over buyers without a pre-approval.
Getting a pre-approval means submitting documents that prove that you are an eligible candidate, including bank statements, tax returns and any current loans you might have. It will help you understand how mortgages and eligibility criteria work. However, even after getting pre-approved, keep your debt-to-income ratio in check as lenders will check again to see if your credit score is still the same. The best way to keep your finances intact is to stay away from big splurges, like a new car, expensive vacations, and any other extraordinary expenses between applying for a mortgage and closing on the new home.
Distinguish between needs and wants
Unfortunately, not all of us can afford a mansion or a luxury property with a big yard and a pool. Most homebuyers have to compromise when they are looking for a home and that’s where it becomes hard to distinguish between their wants and needs. Clearly, needs like the size of the home, good condition of the home and location take priority over having a big terrace or an extra bedroom. Homebuyers get often carried away by perks like the most amazing view, the cutest backyard or a big fireplace, but if you have to skimp on basic needs for that, it is not worth it.
Finding a great REALTOR drastically improves your chances of success
Hiring a real estate agent to help you tackle all the challenges on the way is probably the best decision you can make. Buying a home can be a confusing process, and having an expert on your side looking out for you is what every homebuyer needs. With their experience and connections, it will be easier to secure the best loan terms, find the ideal home, get an inspection, find a competent lawyer, etc. We at The Martin Group always want to see our clients happy and we will walk the extra mile to see a smile on their face.
For more information on buying a home in Burlington, Oakville or nearby, contact us.
When it comes to new subdivisions, we give up the mature neighbourhood feel we get in places where trees stretch out and form a green canopy over the street. We exchange this for the convenience of a newly built home in the suburbs with our choice of lot and floor plan, no repairs, and the thrill of being part of a growing community.
However, we frequently overlook the fact that even the most established neighbourhoods today were once brand new. Therefore, we must start like all the older generations and plant trees for our new homes!
So, What Can We Do?
The first step in creating or rebuilding a green canopy is to plant trees where possible on individual lots. It does take time, but not nearly as much time as you might think.
Aside from planting trees, landscaping your yard will help it look more established and comfortable. This will give your garden form and structure, as well as frame the front of your house, and they'll add beauty now and, in the years, to follow. There is an old saying, “the person who plants a tree knowing they will not see its maturity, understands the meaning of life."
Important Tip:
Plant in the fall. Most garden centres cut prices in the fall. You can either save money or get a much more mature tree for the same money. Really a win/win/win. For you, your neighbours, and the planet.
So, let's start planting trees in our newer neighbourhoods! This will not only help the environment, but it will also reward you when it is time to sell!
Contact The Martin Group today for more information, or to find you the right home with beautiful and plentiful trees.
