7 Habits of Highly Effective Home Buyers – Part 1

 

We all want to succeed, especially when it comes to finding the right home. One path to success is identifying the habits that will help us get there. Just like how there’s no quick fix to building our integrity, there is no quick fix to finding the right home.  Many steps must come into place before this dream can be realized.

 

In the next 2 weeks, we want to share with you the 7 habits of highly effective home buyers. Buying a home is like planning a wedding in that various elements need to be organized before you’re ready for the big day.  Even if you don’t plan to buy for a few months, there are still steps you can put into place today to ensure you’re ready when the time is right.

 

Habit #1: Be proactive

In every market you can find properties that are priced well.  You want to have all of your finances lined up in advance, so that you’re in a position to make an offer when you find the right property. This means getting a mortgage pre-approval now. There are a few reason this is so valuable. First of all, most mortgage specialists can do a rate hold for up to 90 days. As rates continue to be amongst the lowest we’ve seen you want to ensure you’re getting the best opportunity possible. Also, your ability to qualify is highly dependent on your credit rating. If needed, you want to discuss strategies with your mortgage specialist to help build your credit so it’s in good standing when it’s time to apply for a mortgage. Lastly, before you start shopping for a home, you need to know how much of a budget you have to work with. This is especially true with the updated mortgage qualifications which require all buyers with less than 20% down be qualified at a higher rate vs. posted rates.

 

Habit #2: Begin with the end in mind

Before you set out to buy the best looking home in your price range, you want to ask a few key questions such as: How long do we plan to live in the property? Do our current wants support our future goals? For example, if you plan to get married, have children, or start a home based business; will the property you buy today still support these future goals? Do our wants and price point support the lifestyle we want to have? For example, based on your total housing expenses can you still travel, go for dinner, a movie or concert? Can we buy spontaneous gifts for others or ourselves? What neighborhood(s) are we drawn to and why? Is proximity to schools, playgrounds, transportation, or shopping important today and 5+ years from now?

 

Habit #3: Put first things first

Now that you’ve determined your budget and know what kind of a property will support your future, you want to get a realistic idea of what’s in the market. Thankfully you can do as much research as you desire from the comfort of your own home. You can search MLS.ca or visit our website at WeSellLeduc.com. You can drive around neighborhoods and inquire about local schools. To gain added perspective about schools feel free to visit Leduc Mamas Facebook page and ask what schools parents have enjoyed and why. You can visit open houses and show homes. One of the best things you can do is get set up on an automated property email list. This is a service provided by a Realtor where you’re automatically emailed any new properties that come to market in your search criteria. If you don’t already have a Realtor offering this service to you, feel free to contact us and we’d be most happy to get you started.

 

Be sure to check back next week for the remaining habits of highly effective home buyers.  Whatever it is that we can do, our team would be honoured to help you! Whether it’s as simple as answering questions about the market, connecting you with the right mortgage specialist, setting you up on an automated property search, or helping you find the right home, we’re here for you!

 

Jason Rustand with RE/MAX Real Estate serves with the highest level of integrity and excellence every time.  For more info on this topic or others related to real estate contact Jason direct at 780-919-0004, LIKE our Jason Rustand Team Facebook page, email jrteam@shaw.ca or visit WeSellLeduc.com.


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