What we saw in the Niagara real estate market this summer was definitely interesting and as predicted during the fall months we've been seeing the economy open up, restrictions loosen and a "new
TOP TIPS EVERY FIRST-TIME HOME BUYER IN NIAGARA SHOULD KNOW
Dated: December 16 2019
Buying a home, especially your first one, is both an exhilarating and terrifying process. Attending open houses and imagining yourself in a new space can be very exciting. On the other hand, getting together a down payment, meetings at the bank, and hiring a lawyer can be overwhelming.
That’s why hiring a Davids & DeLaat Salesperson is so important. They can guide you throughout your purchasing journey by giving advice and clarifying any confusion you may have. What can be an intimidating process is made a lot more enjoyable when you have a professional by your side.
The Niagara Region is a perfect option for new buyers, allowing them to get greater value for their money and providing commuters with affordable homes they are able to grow into.
Here, realtor® of 16 years Shawn DeLaat shares his top tips for first-time home buyers:
1. Get your finances in order.
It’s important to get pre-approved for a mortgage before you look. This allows you to accurately know how much you can spend on a home. Moreover, often first-time home buyers are purchasing in the price bracket with the highest demand. This means multiple offers are common, and having a pre-approval allows the buyer to remove the financing condition and put forward a stronger offer.
2. Manage your expectations.
With the ease of viewing homes on both the MLS® website and app, buyers can research ahead of time to see what their money can buy and which neighbourhoods are in their price point. It’s common for first-time buyers to have wish lists that may be somewhat unrealistic for their budget. Meeting with a Davids & DeLaat Salesperson can help you determine which must-haves and wants are reasonable for your finances.
3. Decide if you’re comfortable with non-conditional offers.
In a high-demand housing market, multiple offers on a home are typical. It’s good to be prepared ahead of time so you’re not forced to make a big purchase decision on a clock. This includes having your pre-approval done, but may also include wanting an inspection as a condition. In some cases, buyers will bring someone to do a quick inspection of the home on the initial house tour to eliminate the need to do so following the offer.
4. Work with a professional Davids & DeLaat Salesperson.
It seems obvious, but working with someone experienced in home buying or selling can make all the difference. A Davids & DeLaat Salesperson can help you understand the purchasing market, allowing you to make an educated decision. In Niagara, a home buyer has a greater purchasing power in the “land of affordability,” and a salesperson you trust can help you to take advantage of this.
5. Be patient.
Often buyers, especially those new to the market, get caught up in the experience. Sometimes worrying a better house will never pop up causes buyers to jump on purchasing a home that may not be right for them. Some compromise is okay, but rushing can mean settling or overpaying for a home. What’s meant to be will be, and with a market that’s always refreshing, the right place will come up.
Helping people buy and sell real estate is Shawn’s passion. Now in his 20th year, he’s proud to be in the top 1% of all realtors for sales production in the entire Niagara region. Shawn’s outgoi....
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