So, you’ve got your heart set on becoming a homeowner in 2023?

Beyond the obvious—brushing up your credit score, ssavingy for a down payment, hearting online listings—what can you do right now to prepare yourself for buying a home?

Shop for lenders

Interest rates are high. So, if you’re getting close to launching your home search, and you want to increase your chances of getting approved, it makes sense to shop around with various lenders to secure the lowest rate for your mortgage.

Deposit any financial gifts ASAP

It’s becoming more common for first time buyers to shore up their down payment with a financial gift from family. If you’re fortunate enough that your family is helping with the down payment, get that gift now and deposit it. It will make things easier down the line as it will help you avoid more questions about the gift.

Crunch your numbers on a mortgage calculator 

Review your budget and determine what you are comfortable spending on a home. Once you factor in things like HOA dues, taxes, and an emergency repair fund, you very well could find that what you’re comfortable spending on a mortgage is less than what you’ll be approved for.

Keep important documents all together in one place

To secure financing you’ll need to prove that you have assets and income. Start gathering up documents that lenders will want, including tax returns and financial statements.

Research loan programs and first-time buyer grants 

If you’re a first-time buyer, you may qualify for down payment and closing cost assistance, or even special loan programs with lower interest rates.

If you're thinking of buying and would like some tips or assistance, reach out to us!

You know what they say about real estate; location, location, location. You may love the home, but have you thought about what’s happening on the other side of the fence? Thinking about the neighbourhood is a big factor that can sometimes be forgotten. 

Spend time in the area

You can’t really get to know a neighbourhood until you live there, right? Spending time in the neighbourhood gives you a glimpse of what your life may look like in the future. Visit on weekends, go to nearby restaurants, and walk around to get a feel for the area. Think about it in different seasons too – close to beaches or parks is a big draw in summer… but what about the other months?

Give your commute a test run

If you’ll be going back to the office soon, it’s worth seeing what your commute would be like. Google Maps can give you an estimate, but it’s a good idea to try driving it during the time you’d actually be going to work.

Think about what’s important to you

Just as you create a list of wants and needs for a new home, take the time to think about what you’re looking for in a neighbourhood. For example, if being close to restaurants or parks are important to you, then look for a community that has these amenities.

Talk to neighbours 

The neighbours can offer some valuable information about what it’s really like to live in that area. Take the time to walk through the street, approach some of the residents, and ask if they’d mind answering a few questions.

If you're thinking of buying and would like some tips or assistance, reach out to us!

With home ownership becoming more and more expensive, it’s no surprise people are looking for ways to become a homeowner without going bankrupt. Here are some tips to help you find a home you can afford.

Look at foreclosure lists, though there may not be much room to negotiate and there may be hidden fees as well. In terms of shaving off a bit of your mortgage payment, a credit score of at least 740 or 760 will get you the best interest rate, and a downpayment of 20 percent or more will help you avoid private mortgage insurance.

If you're thinking of buying and would like some tips or assistance, reach out to us!

When it comes to deciding where you want to purchase a home, there is a lot more then price to consider.​​​​​​​​

​​​​How long will the commute to work be?​​​​​​​​

​​​​​​​​If you have kids, are schools close and public transit an option? ​​​​​​​​

​​​​​​​​Are there grocery stores and other amenities important to you in the area?​​​​​​​​

​​​​​​​​Having this mind set will be very important when you begin your search and will help guide us to finding that perfect home for you. ​​​​​​​​

​​​​​​​​If you are unfamiliar with different areas on the island, we would be more than happy to help you decide what some of your best options are. ​​​​​​​​

If you're thinking of buying and would like some assistance, reach out to us!

A lot of strategy goes into finding the correct listing price for a home.

Finding the right price that attracts tons of buyers and generates a lot of interest in the home takes…

-experience

-skill

-knowledge of the market

Which is exactly what your REALTOR® uses to figure out the perfect price to list a property at.

They know how to use strategy to either price the home under market value, over market value or right at market value to attract the most buyers and get a bidding war going.

Pricing a home isn't just about looking at the market value–it depends on so much more! That’s one of the many reasons why you should definitely consult a REALTOR® when you go to sell your home.

Want to see what we would recommend for pricing your home? Contact us and let’s chat about it!