Make Good Decisions

Buying the right house can create a significant amount of wealth for the owner over time

Work With an Experienced Local Realtor

An experienced Realtor can make a significant difference when it comes to finding the right home and negotiating favourable terms and price. 

Avoid Overspending

Stretching your budget too far can create enormous problems for a homeowner 

Make Good Decisions

Purchasing a home can be an amazing and enjoyable experience. In most cases becoming a home owner is the most significant financial decision a person will ever make. The right home in a good neighbourhood can improve in value over time and create a significant amount of wealth for the owner.

It is also important to keep in mind that making a poor decision during this process can have disastrous consequences for the individuals involved. It’s always important to make sure you never overpay for a house. Paying even 5% more than the actual market value of a home can leave a person without enough equity to sell should the situation present itself. Hidden defects can cost thousands of dollars to fix after taking possession, and leave a new home owner with no emergency savings.

The best way for any buyer to have a successful, stress free purchase is to work with a local Realtor who is experienced and familiar with the area of interest. Find someone you trust and not just trying to sell you on buying the first house you walk in to. Buyers also need to educate themselves and ask lots of questions.

The Homebuyers Road Map is an excellent resource for explaining the basic details of buying a home. You can download it to any device buy clicking on the link below.

Homebuyers Road Map Brockville Real Estate

Work With an Experienced Local Realtor

A Realtor who is familiar with your areas of interest can provide you with the knowledge and guidance needed to guarantee a successful transaction. Realtors will have specific knowledge about homes that are currently for sale and also be able to identify common issues affecting certain neighbourhoods. For example there are often entire subdivisions that are affected by water issues, or neighbourhoods built during a period of time when builders used hazardous or sub standard materials.

Avoid Overspending

Spend only as much as you need to in order to feel comfortable. Banks and lenders will often pre approve buyers for a purchase price far higher than they should be spending. It is always helpful to sit down with your Realtor and discuss the cost of living in a specific home. After covering the cost of mortgage, taxes, insurance, utilities, cable and internet, you should still have enough money left over to put away in savings.

Having an emergency fund set aside is always a good idea in case your furnace dies in the middle of the winter. Without that extra money you would be forced to borrow and that can be a recipe for disaster.