There is a lot of noise in the Real Estate Market. Shopping for the right home can be a complicated and time consuming process. A good REALTOR® will first meet with you to discuss: price range, what type of home you are looking for, where you are looking, when you plan on moving in, and how you wish to keep in contact. This is called a buyers consultation.
Sometimes what we can afford dictates what we can purchase, it is important to give your REALTOR® a realistic price range to search in. If the range is lower than you are willing to spend you may be continually disappointed by the homes presented to you and showing you homes outside the upper end of your price range would be a tease. A Mortgage Specialist or Mortgage Broker will assist you in finding the right balance between being house poor and living a comfortable lifestyle.
WHAT TYPE OF HOME? WHERE SHOULD I LIVE?
These are the things every prospective home buyer must consider. Decide in order of importance what is most important to you:
- Do I want a brand new house, or an older one?
- What style of house do I prefer? (bungalow, two storey, split-level, town home, apartment style condo, half duplex, other)
- How big a home do I want? How many square feet?
- What sort of lot would I like? (small yard, large yard, fenced, garage, patio/deck, other buildings)
- How many bedrooms do I need? How many would I like to have?
- How many bathrooms do I need? How many would I like to have?
- Is there a part of the city I want to be near? Schools? Business? Parks/Recreation areas? Family?
- Are there any special features you are looking for? Hobby room, mechanics garage, a large clothes closet, a fancy kitchen, an in-law suite?
TIMING IS EVERYTHING
How soon do you want to be living in your new home? Is it as soon as next week or as far off as a few years from now? Most sellers plan on turning a property over to a buyer in 30 to 45 days. If house hunting starts too soon you might find the house you fall in love with sooner than you plan, if you don’t start soon enough you could be left out in the cold. Most first time home buyers find a house fairly fast, but folks looking for their second or third home need more time.
Let your REALTOR® know where you stand so they can work at the right tempo for you. Less urgent shoppers don’t like to be bombarded with constant market updates and house hunting trips, where people who need a place now want to be well informed with what’s available.
At the end of your buyers consultation you and your REALTOR® need to decide first if you want to work together, and second how you’re going to keep in touch regarding new listings, making appointments to view houses, and how often you expect to be contacted. What is the best way to reach you? Faxes, emails, Facebook, text messages, phone calls, tweets, telegrams, drop by visits, letters by post… Your REALTOR® will keep in touch with you in the medium and frequency you desire.