Initial steps for buying your first home

Posted: June 27, 2012 in Buyers
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(NC)—Buying your first home can be overwhelming. There are many factors that need to be considered when you make what is often the biggest financial purchase of your life.

Trusted real estate agents are considered to be an excellent resource when embarking on the homeownership journey.  As a buyer, there are no extra fees associated with the use of an agent, and agents come in quite handy–from offering advice on best neighbourhoods, to helping determine what you can afford, to objectively evaluating the property and most importantly, negotiating the offer and facilitating the closing process.

It’s extremely important to work with an agent who understands your needs while managing your financial expectations within a budget you can afford. A good agent will also advise of costs such as a home inspection or the land transfer tax that new buyers are often unaware of.

Here are a few more tips  if you are looking for a new place to call home:

Establish a financing plan. Being prepared will go a long way to avoiding surprises when your first mortgage payment is due

Bring a camera with you. This an easy way to document each home you look at by taking a photo of the house number first to make it easy to keep track of the properties.

Jot down all of the pros and cons. Note the features you like, condition of appliances, areas that may need work and any design changes that may be necessary

Take note of the area. Are there high-rise buildings nearby that may impact your view or block the sun? Is it near a park or a school?

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