4 Key Considerations to Keep in Mind whenYou Start House Hunting!
Looking for a new Edmonton house to purchase can be fun, exciting and even a little intimidating. Many people love searching for new homes online and touring properties with a real estate team like Edmonton Home Tribe.It is often easy to imagine living in or raising a family in some of these homes. Below you’ll find four key considerations that will help you narrow down the desired properties more easily and may even reduce stress while searching for a new Edmonton home to live in.
Get Pre-Qualified First
Some Edmonton home buyers will use an online calculator to estimate a sales price that is affordable for them. However, before getting serious about house hunting, it is important to work with a mortgage company and to actually get pre-qualified. After all, this will tell a home buyer what sales price range and loan amount range they may actually qualify for. Looking for advice on an Edmonton mortgage broker to speak to: be sure to ask as we know many great Mortgage Brokers and can give you a list of recommendations.
Choose an Edmonton Home That is Affordable for your Monthly Budget
The Edmonton home that is selected should be affordable for your budget, and there are several factors that impact affordability. The mortgage payment is one of the most significant factors, but the home that is selected will also impact repair costs, maintenance needs, utilities, taxes, insurance and more. The location, age, construction type, size and other factors will all impact these expenses in different ways, and you as a future homeowner should understand what your budget is for all aspects of the overall housing expense.
Consider Your Needs and Wants
It is easy to lose track of needs and wants in a house when touring properties. For example, a buyer may walk into a truly stunning home that has been beautifully staged and overlook the fact that it does not have the amenities or a layout that are actually needed by the homeowner. Before a buyer begins house hunting, it is important for the individual to make a list of absolute needs in a house as well as desired wants.
Think At Least Three Years Into the Future
A home is not typically something that is quickly or easily sold, and there are expenses related to making it ready to sell and to selling it. With this in mind, most homeowners will not sell a home before approximately three years from their purchase, and some may not sell it for five years or longer. The home that is purchased ideally should meet the buyer’s functional needs for space as well as other defined needs now and for several years into the future.
While house hunting can be fun, it also should end with a desired result for all of the time and effort exerted. These factors all should be considered before buying an Edmonton home, and they all can help a homebuyer remain on track when house hunting. Before beginning a new Edmonton home search or as soon as possible after starting it, the buyer should think about these things.
Know that the Edmonton Home Tribe team is ready to help you at all stages of the home buying process. Wanting to explore what home is right for you? Try out our exclusive “Home Tribe Match” technology where we will show you in less than 3 minutes the best homes on the market based on your personal lifestyle.
Or contact us today to get started on us working with you exclusively to find your next Edmonton home.
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