Don’t Get Emotional
When buying and selling it is easy to get invested and wrapped up emotionally. In this fast-paced market you will most likely face quick decision demands, multiple offer situations and bidding wars. Especially if you are first time home buyers, you may not have the financial leverage to compete in the market. So don’t get invested in properties too soon! You may fall in the love with space at first glance, but because of this extremely fast-paced market to road to ownership may be a bumpy one, so be prepared.
Don’t Forget About the Hidden Costs
Remember the cost of your next home will not be straight forward or perfectly set out. To be a smart buyer you need to remember and plan for the hidden costs that we often don’t account for. Remember that often the GST is not included in the sale price and the listing price of a home is rarely ever what the property sells for in this competitive market. Make sure to plan for finances after your purchase as well, by keeping in mind the property taxes, maintenance and strata fees.
Don’t Get too Picky
When exploring homes don’t get too picky with your must-have and deal-breaker lists. Keep an open mind when searching for a new home. Remember to consider the different valuable aspects of a home including location and square footage. And try to recognize the features that could be altered to fit your personal needs and tastes. It’s all about the give and take. In this fast-paced market if you hold out for that ‘perfect’ property and invest emotionally in the deal, you could end up being left empty handed and out of options. So make sure to really consider what your priorities are when house hunting and what home ‘needs’ could potentially be negotiated.
Also check out
Homeowner's Guide to Buying Your First Home - http://vantagerealestate.ca/homeowner-s-guide-to-buying-your-first-home
Decorating Secrets to Stay on Budget- http://realestatewhiterock.com/decorating-secrets-to-stay-on-budget-
How to Choose a New Neighbourhood - http://realestatewhiterock.com/how-to-choose-a-new-neighbourhood
The Pros of Townhouse Living - http://realestatewhiterock.com/the-pros-of-townhouse-living-
-Vantage Real Estate