Whether you’re buying your first home or your fifth, here are a few things to get you started.
1. GET MORTGAGE PRE-APPROVAL. Talk to your bank to find out how much of a mortgage you can obtain. You’ll be required to provide verification of income, how much money you owe (credit cards, car loans etc.), as well as other information such as confirmation of investments or other assets. The bank reviews all your information to see if you qualify for a mortgage and if so, how much financing they will provide. You’ll have to go through this process at some point, so you may as well know up front how much you have to work with. That way you won’t be looking at property you can’t afford to buy.
2. KNOW THE AREA. If you plan to buy in the neighborhood you already live in, that’s great. But if you’re moving to a new area, take some time to learn where the shopping is, where the schools are located (in Nanaimo, www.sd68.bc.ca has a great map showing the various school catchment areas), and where any other amenities you want to be near can be found. Do you need to be near public transit? Is it important to be near your church or other associations?
3. CHECK WWW.REALTOR.CA. By looking at the MLS listings in the area you want to live in, you’ll be able to narrow down your search. You can specify what type of home you’re looking for, a price range, and other features in the home or area that are important. If there are a few that catch your eye, tell your real estate agent and they can set up appointments to view the homes.
4. GET A RE/MAX OF NANAIMO REAL ESTATE AGENT. If you don’t already have one, call RE/MAX of Nanaimo and speak with an agent who specializes in your area. A real estate agent sometimes has access to other listings that haven’t shown up on the MLS system yet, so you may get a head start on a property before other buyers know it’s available. They can also provide valuable information regarding comparable sales in the area, so you don’t overpay once you find your dream home. A RE/MAX of Nanaimo agent will guide you through the entire process from offer to closing
At RE/MAX of Nanaimo, one of our greatest priorities is ensuring the satisfaction of ALL of our clients. We’ll do all we can to make sure the buying process is as smooth and stress-free as possible. Call us today at (250) 751-1223.