If you’re a first time home-buyer, the list of things you must do before you can move into your dream home can get over-whelming. You have to think about the location of the property, square footage, layout, finishes, flooring, and getting a mortgage. The list can seem endless.
We want you to start your house hunting adventure with all of your ducks in a row – knowing that you’ve successfully prepared for the upcoming process of finding the right Ucluelet home for you and your family.
So before you start house-hunting, check these 5 things off your list to ensure an enjoyable and efficient home-buying journey:
1. Get A Credit Check
Before you begin, you will need to have a mortgage pre-qualification document. Even if you have already found the home you’d like to buy, there is no point in putting in an offer on the house only to find out afterwards that you are not qualified to purchase it. This will lead to disappointment for everyone involved.
The reason your credit score in particular is important because only two things determine the interest rate you get on your mortgage: the amount of your down payment and your credit score. If you need to take some time to raise your credit score, don’t worry, the perfect Ucluelet Real Estate will be ready for you when the time is right.
2. Make A Budget
It would be wise to decide ahead of time how much money you are comfortable with paying per month for your mortgage before you head to the bank for your pre-qualification. It’s important to know the numbers before you have a mortgage payment due because the bank may approve you for a house that is more expensive than you can afford. In this case, it’s best that you know your maximum and stick to it.
The budget will help you by keeping track of where your money is going. This is important because there can be unexpected costs to owning a home, so you don’t want to leave yourself strapped for cash at the end of each month.
3. Make a List of Must-Haves, Needs and Wants
When you start viewing houses, the details of each home may start to all blur together. You may end up seeing so many properties your head will be left spinning and you might forget some of the things you were looking for in the first place.
Before you look at any houses, make a list of your must-haves, needs and wants. You may want to make it into a checklist and bring copies of it to each viewing to document which homes fulfill what it is you’re looking for. This way, if you get overwhelmed after seeing too many homes, you can simply refer back to your check lists and remember what it is you are looking for.
This will also be helpful for your realtor to reference as well.
4. Check Your Emotions at the Door
Buying a house is often an emotional process, but do your best to sleep on decisions before making a hasty and unwise decision about a house that’s financially out of your reach or not quite what you want.
Remember that buying a house is a business transaction, so play it cool and keep your emotions in check as you observe your options. You’ll be thanking yourself later when you don’t rush this life-altering decision. Taking the time to review your must-haves, needs and budget is essential to being certain that the home you buy is the home you will love for a long time to come.
5. Work With a Diligent Realtor
Finally, finding a realtor who will work for you, on your behalf. You will want someone with experience who will stand up for you in the final walk-through or at the closing table if something doesn’t go right.
You also want someone who has lived in the area for a long time, who knows the market, and who is knowledgeable about the costs of home repairs and upgrades. You will appreciate it when your realtor can point out problems with potential homes before you get too attached to them.
With over 20 years of experience with the Real Estate market in Ucluelet, we are delighted to share our expertise with you as you find the perfect Ucluelet home for you and your loved ones.
It’s not every day that you get to run around shopping for houses, so try to enjoy it!
If you have any questions, please don’t hesitate to contact us.