Edmonton Home Buying 101

1. Stay For The Long Haul

One of the things that you need to consider when buying a home is, are you going to be able to stay in one location for a few years. If you are one of those people that change locations every so often then it is not the right time for you to own a home. If you decide to sell sooner then you will lose money if you sell too soon.

2. Ensure That Your Credit Is In Good Condition

More than likely when you go to buy your new home you will need to obtain a mortgage in order to buy a house. You will need to make sure that your credit is in great shape and there are no blemishes on it. In the months before you start your hunt make it a point to get a copy of your credit report and clear up any problems that are on it.   

3. Be Real About The Type Of Home You Can Afford

Be real when you are looking for a new home. The general rule is that you will be able to afford a home that cost about 2 ½ times you annual income. The best advice is to use a calculator online that will give you a better picture as to what you can and can't afford when it comes to a new home.

4. Don't Stress About The Down Payment

There are a number of lenders out there both public and private that if you qualify can offer you a low interest mortgages that will require a very small down payment, or even a no money down option.

5. Make Sure The Schools Are Good

Most areas this will be good advice even if your kids are not school aged or if you don't have kids at all. The reason that this is so important is because when you are in the market to sell your house this will be a strong selling point for potential buyers.

6. Get Professional Help

While the internet gives you a great look into buying a home you will still be best served with the services of a qualified real estate agent. A qualified agent will be able to help you through t the maze of trying to sell your home. It is always a good idea to have a real estate agent in your corner.

7.  Get Approval Before You Start Your Hunt

This is a step that will save you a lot of time and trouble when it comes to house hunting. This will save you from looking at a house that you will never be able to afford and help you negotiate better when an offer is made.

8. Do Your Homework

When you make your bid be sure to know the selling price of the other homes in the area. This is a step that will help you out on the back end as you will have the knowledge that comes with doing your homework on real estate prices in the area.

9. Have The Home Inspected

This is the best piece of advice that any potential homeowner will be able to know. It will be important that your home inspector look over the home to help determine if this is a place that you will want to buy and move your family into.

Inquiry Form

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.