6 Essential Tips to Help You Buy your New Home in Oakville
Friday Mar 12th, 2021
Are you thinking of buying a home in Oakville, Ontario? If so there are several steps to the home buying process which will help save you time, money, and frustration. It's important to be aware of some of these processes to help you be prepared before you start the process.
The first step you should take is to search for a realtor. This is a vital step, as you'll need someone who lives and breathes the community you're moving to and understands the area. It's important to find someone who has experience in the area, knows the areas best, and understands the area you want to move into. This way they'll be able to show you a variety of homes, helping you make the right pick. It's also important to know your must-have and nice to have buying criteria that the home has, such as location, price point, condition, style lot size, number of bedrooms, finished basement, new or resale, and what work if any you are willing to do for updates, repairs or renovations. You can view Oakville neighbourhoods and home for sale here: alexmoloneyhomes.com/oakville
Next, you'll need to have your financing pre-approved. This will help determine how much you can borrow. You should talk to a mortgage professional to know what you can afford, and what price range you should look at. You'll also want to be clear on what the price range is for the home so that you know what to show the realtor.
View homes for sale and get a feel of the current marketplace to see what is selling and for how much. It's important for homebuyers to be realistic with the current market conditions and what's happening with interest rates, is it a buyer's or seller's market and general real estate trends in the different Oakville neighbourhoods.
Make the offer. Once you have found the home you want, have your agent create the offer and explain any terms and conditions you are not familiar with. Typically two of the main conditions you would want as a buyer would be a home inspection and finance clause even though you already have your pre-approval. Just because you buy a house doesn't mean the bank will lend you the money on that particular property if they think you are overpaying and you may have to come up with the difference yourself. Other important parts of your offer include the price obviously, the closing date, deposit amount - typically around 5%, what's included with the house such as appliances and other fixtures.
It's vital to have a home inspection done once you find a home and have an offer accepted to make the home is in good condition and to find out if there are any concerns or items that will need repairing, fixing, or have to be replaced. While you should make sure all the systems and components work well, you should be checking for any major problems that could cost thousands to fix in the long term. Any major repairs should be listed in the contract. This can be done either by a licensed home inspector. Again, this will give the homeowner all the information they need to make the smart choice.
Close the deal, move and enjoy your new home :) Finding a moving company can be easy or it can be a headache. It depends on how many jobs the company is moving, how skilled they are, how much they charge and their reputation. It's good to shop around, as finding a reliable moving company is not an easy task. And remember to shop around if you want the job done right.
If you're moving in a new home or you're relocating for employment, remember these basics and you'll be moving like a pro.
Get a copy of my FREE Buyers Guide.