Buyer Real Estate Resolutions
If your resolving to buy a home this year, check out our top resolutions for buyers to make sure you next move is as successful as possible!
I will get my finances in order.
Before you even sit down with a mortgage advisor, get your credit score so you can understand and rectify any issues (it can take 6+ months to improve your FICO score). This will allow you to look better in the eyes of lenders and therefore secure better rates. You can also ensure you have the information needed to apply for a mortgage – 3 years past history of T4’s, investments, recent pay statements etc.
I will get to know the market before I need to buy.
We always recommend that you start getting to know what is coming out on the market 2-3 months before you want to buy. This will allow you to understand what your budget will buy and set your expectations before you walk into multiple offers. It will also give you greater confidence that what you are looking at is what you want compared to what you’ve seen come to pass.
I will communicate with my partner about what we want in a home.
You’d be surprised how many times we’ve taken a couple out to look at homes only to find out they have completely opposite ideas of what they want to buy or even where they want to buy. We’re there to help you understand what will be the right move for you but it’s always a good idea to share your thoughts with your partner first!
I will understand that no home is perfect.
We know not everyone can see past truly ugly finishes but no home will ever be 100% perfect. We’ll help you establish what your show-stoppers are – what are absolute no-gos. But most aesthetics can be changed and many without a major investment. We can help you understand the potential of a home and envision how it can eventually become your perfect home, or not. But don’t let a bad wallpaper stop you from finding your dream home.
I will realize that my agent is the one who has evaluated hundreds of homes and helped hundreds of buyers. Not my dad.
In particular with newer home buyers, we’ve done the work of educating them about the market, shown them homes to ensure they land on the right one, done a thorough comparative market analysis and negotiated the heck out of the deal. But they just want to bring ‘dad’ (or insert relative here) for one last look before they put in an offer. Now, if this person is helping you with the purchase then of course they have a say but if that’s the case, we would loop them in early in the process for that educational phase. ‘Dad’ takes one looks and tells you to walk away without any industry experience other than cruising MLS from time to time. We’re not saying you shouldn’t listen, but base your next move on professional knowledge and your goals, not a well meaning relative.
I will not overpay for a home in multiple offers.
We always ask our clients to take the time to have a very real conversation about the value of the home (which we educated them on with current comparable analysis) and what their comfort level is in relation to that value BEFORE they walk into a multiple offer. This ensures a benchmark so you know your walk-away point rather than getting caught up in the emotion and competition of the night. Someone else may win the bid but they may have also grossly overpaid. Don’t be that guy.
Thinking of buying or selling this year?
Don’t worry – we’ll help you stick to all these resolutions 🙂 Contact us today to learn how we can help you from beginning to end with every step.
Home values are up…do you know what your home is worth? Click here to find out.
Want to know when your neighbours are selling and for how much? Click here to find out.
And don’t forget to click here to check out our Real Estate Resolutions for Sellers!