As the housing market becomes increasingly competitive, making it to the homeowner’s club is an increasingly challenging task. Owning a home is not an impossible task, though. When you follow these four tips to help you become a homeowner, you might just find yourself in
possession of a very valuable investment sooner than you think!
Do some research
Start researching your home options early! Knowing the kind of home you want to own can help give you an idea of what kind of savings you will need. When you’re looking at properties, think about these specific property elements:
Number of bedrooms
How many bedrooms do you need? Will they all be used as bedrooms, or will one serve as a home office space?
Neighbourhood
Knowing the neighbourhood helps narrow your search. Looking for Vaughan real estate? Homes in Kleinburg? How about property in Woodbridge?
Pro tip: If you want to make mortgage payments a little more manageable, it might not be a bad idea to look at home options with rental potential. This way, you can rent out part of your property for some passive income! Once you pay off your mortgage, you will be left with a larger living space, or can sell for an upgrade.
Think About the Future
A home is a long-term investment and requires long-term thinking! If you are going to be growing your family, looking for a family-friendly home will be your best bet. Look for a home that you can see yourself living in for a few years, even if your current situation changes.
Mind Your Budget
Coming up with a thought-out budget is one of the most important steps to take before you head into the home purchasing process. Your real estate budget shouldn’t cause you financial stress. Look at mortgages that you can easily afford and don't drain your finances for a giant downpayment. If that means waiting a year or so to be more stable, it will pay off in the long run.
Get a Great Real Estate Agent
When you have a great Realtor like John Burdi, they will work with your personal needs and budget to find you a house you can turn into a home! With thousands of agents, it’s essential you find an agent who understands your needs and works within your limitations and search
criteria to find the best property possible.
Are you looking for the perfect real estate agent? Look no further, set up a call today with Re/Max representative John Burdi for more information!
