I have always said, "your home is your haven" and you should love it! If you are not sure on where to start or what to do, but want to buy a new home, this Blog is for you! Also, give me a call as I would be happy to help and to provide you with my Home Buyer package, exclusive to my clients wanting to buy a new home in today's market.
Lets get right down to it!
1. GET APPROVED!!
First and foremost. How much can and do you want to spend on a home? What will your payments be?
Where to go for a pre-approval? The best answer is to do a little research. You can get a pre-approval from almost any financial institution. Banks, credit unions and mortgage brokers will be more than happy to entertain taking you on as a client. If you need some names and places give me a call and I can direct you to someone who will help. Keep in mind this can get in depth. They are planning on giving you a significant amount of money so they are going to ask for a lot of documentation and background info. Don’t worry about what is in your financial past, it is better to be honest than to get a mortgage you can’t afford. Get a copy of the pre-approval to provide to your REALTOR ( hopefully me) and to submit with your offer.
2. FIND AN AGENT!!
I cannot stress enough how important this one is. Google, Best Winnipeg Realtor, or Winnipeg Realtors and go onto their website. A lot of us have our own websites with biographies and other information. Maybe there is an agent with a similar background to you, maybe your friend’s mom or dad is an agent. A referral from a friend that used a great agent is a good place or someone you visited at an open house. It doesn’t matter how you find the agent you want to work with, as long as you do choose someone to represent you. Sign and agency agreement so both parties know their role throughout the process with no miscommunication.
Ok now you have picked an agent to represent you, AMAZING!! Have a real honest conversation with them about your wants and needs, and what you can’t live without. The agent can begin assisting you in your search. Our system saves you hours and hours of research as it scours the MLS for anything set up in your own curated search. Not to mention, listings on our system can pop up 2-3 days before Realtor.ca!
3. RESEARCH AND BUILD A WISH LIST!
Go online. Look up things on social media. Do some research on property types. Do you want a house? Is a Condo more your thing? A new Build? Are you handy? Do you want something that is a fixer upper or something you don’t have to do anything to? You may not be able to get everything on your wish list that's within your budget, but you should definitely have an idea of what it is that you need. 2 or 3 bedrooms? 2 storey or one? Do you need a bathtub? There are a lot of factors of a home that you may or may not even know that you wanted so look around. Getting an idea of the important things will help guide you when you start to look at properties in person.
4. VIEW HOUSES!!
Ask your buyers agent to set up showings for houses you want to view. This may be one of the most important pieces of information I can give you. Once you pick a buyers agent contact them to do everything! Every Realtor in Winnipeg has access to every property that is on the MLS so if you see a house you like you should contact YOUR agent, not the listing agent. Thinking they are too busy so you will book with the listing agent is not cool and could get your agent into some hot water. If you pick someone to represent you, LET THEM. That is their service to you. They want to get to know you, how you feel about the houses, what you like, what you hate. It helps us fight for your best interests when you do pick a house you love.
When we go visit a home, I have more detailed information about the home, updates, taxes, utilities etc. so we are ready to evaluate if this is a good home for you or not.
So you have found a house that you LOVE, it has everything you wanted and it’s in your budget, now what?
5. WRITE AN OFFER!
It’s time to talk with your buyers agent and write up the offer. They will pull up some history about the home, payments, expenses, condition and updates etc. We will review all of the comparable homes in the area and what they have sold for, whether there is room to negotiate or not (maybe it is an offer date and a competition) and how to get your offer from conditional to FINAL. Your agent will negotiate on YOUR behalf. Your best interests are what they are working for. They are going to fight tooth and nail to get you the best price and terms. This is the reason they got to know you in the first place.
6. CLOSE THE DEAL!
Your offer was accepted and it is time to finalize your conditions. Remember the Pre-approval? Well now the lender has turned that into a Mortgage. Did you request a home inspection? Time to do it, and if you did it will be the best lesson in how to maintain a home and worth every penny in my opinion. Finalize all of your conditions and the home is yours. Your buyers agent can help you with the particulars of closing the deal completely by suggesting insurance providers and lawyers to finalize the paperwork.
CONGRATULATIONS!! You have purchased a home. In 6 steps you have bought a home and looking forward to moving in. I will send all paper work to your lawyer and help you with the next steps before your moving day!
As always, give me a call if you have any questions at all! I am here to help!