House hunting can be one of the most exciting times in life, but if you are not organized and do not plan carefully you may end up in a house that is not perfect for you. The ultimate end game when looking to purchase a home is walking into a property and knowing it fills all your needs then putting in an offer and having it accepted, but we have all heard stories of buyers remorse so take your time.
Purchasing a house is a big investment so it is not something to rush into. You will likely reside in it for a long time and doing homework before you buy ensures you will soon be living in a home you love. The Penticton real estate market in the sunny Okanagan Valley is a great place to find the perfect home. Just make sure you know exactly what you want before you head out hunting with your realtor and don’t be afraid to ask for it.
- Do Your Homework
When considering purchasing a new home it is necessary to educate yourself on the real estate market in your area. This way you get an idea of which houses are available in your price range and what to expect when you start doing tours with a realtor. If you are well-versed in what is selling and how quickly you will be more comfortable when making an offer and knowing approximately what it should be.
- Stay Within Your Budget
This is very important when buying a new residence. It is easy to be drawn toward houses in the higher end of what you can afford and oftentimes buyers are even tempted to rework their numbers in order to get themselves into a pricier home they have fallen in love with. However this is not typically a good idea as you may find yourself in over your head. It is always good to be able to save for a rainy day.
- Chose the Essentials
After you have researched the market and determined your price range you should create a list of must-haves. You can write a secondary one that includes what you would like but do not need. This helps to narrow the search and omit any properties that do not suit your needs. Decide on how many rooms are necessary, whether you require a backyard, and if a nearby school or other amenities are essential.
- Decide if You Want to Commute
Take some time to contemplate whether you prefer to live in an urban area closer to your work and other conveniences or if you are okay with a longer commute but a bigger home and yard. It is a big decision because commuting has benefits such as more house for less money but living in town means you will not spend hours a week in your car. While an urban home may be more expensive you can save some on fuel.
- Research Neighbourhoods
Finding the right community can be the difference between liking your new house and loving it. Spend some time in the neighbourhoods you are considering and get to know them before deciding which one is best for you. Be clear with your realtor on which areas are right for you and try to stick with them throughout the house hunting. Think about if you are okay with an up-and-coming area or prefer an established one.
- Take Your Time
Of course it would be nice to walk into only a few homes and find one you love right away but this is not typically the case. Though looking for a home is an exciting endeavour you do not want to buy too quickly. Plan on spending at least a few months touring homes and getting to know what is available. Make sure you take along the list of essentials and do not budge unless you are absolutely sure you won’t miss them.
- Communicate Regularly With Your Realtor
When you are working with a realtor this is one of the times you want to be honest and straightforward. It is much easier for an agent to narrow down which homes to tour if they know exactly what you want and need. Do not worry about appearing nit-picky or hard to please. You will be living in the space for the foreseeable future so you really want to be sure you love it. An experienced realtor will appreciate this approach.