Wednesday, February 17, 2010

Five steps to buy your home: Step 3 - House Hunting

Now that you have determined how much you wish to pay for your house, we can sit down and see how to fit your needs and desires in your budget. All those systematic steps we are taking towards buying your home are to ensure we act with as little emotion as possible. Before starting the hunt, I would like to advise you against getting into situations with multiple offers. If you cannot buy a house you like in today’s market without a multiple offer, maybe that market is too hot and you can get a better deal when things cool down. We can always come back 6 months or a year later. What is more expensive, paying $30,000 too much or paying rent a bit longer? Don’t you want to buy when things are ‘on sale’?

Ready for the hunt? Now, we’re going to find out where you want to live and in what kind of a home you want to live for the next 3 to 5 years. All of course within budget. You will let me know what you want and then I’ll send you and your family home... to surf the net. Using your computer at home, you can visit Realtor.ca, the public version of the MLS database. I will show you in the office how to skim the listings. I will also e-mail you property listings I found four you. Select around 10 properties you like best.

From now on, we’ll be talking about ‘properties’ rather than ‘homes’, thus we keep the emotions as low as possible. We will fine tune and get information on the selected properties and reduce the candidates down to four. We should visit no more than 4 properties at one time. People typically lose track when looking at more than 4 properties. Things become ‘blurry’. Maybe we don’t find the right property right away but at least we will learn what you don’t want. Thus we refine our criteria (sounds cool and unemotional he?) There may be a 3rd and a 4th round, until we find the right property to make an offer on.

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