When searching for a home it can be like searching for a needle in a haystack. With a little pre-planning you can make your house hunting a lot more productive. For starters you want to make sure you can make a day out of searching for your home. If you can’t set aside a day, take a few hours daily, to work with a trusted reputable agent. Your agent will be the person that will do the majority of the footwork but will need your input as to what you want. It is extremely important that you don’t settle for a home that after you purchase it you ask yourself, “What was I thinking about”???
You want to be able to recall as much as possible the information you receive from each house that you see, because believe me, you will possibly view at least five to ten before you find that dream home. Next, make sure you know exactly how much you want to spend and stick to it, don’t over extend yourself financially. One of the major factors banks take into account is what they call “debt ratio”, which is all your bills and what you owe versus what you bring home, income.
You need to sit down with pencil and paper to determine what you can afford, with existing bills and that new mortgage you are about to incur. The best tool on the market is the mortgage calculator, which can be found by typing the words “mortgage calculator” in the search engine on the internet.
Map out your desired areas, drive by in the evenings to check out the neighbourhood and pay attention to the number of houses for sale in the neighbourhood. Make sure that when going to see homes, you take a camera, notepad and a friend or family member. Finally pick and choose with your head and not your heart – Remember……. This is one of the most important decisions you will ever make.