Finding the perfect home doesn’t happen in a day. Through careful consultation, planning, and work with your real estate agent you’ll purchase your new home. In order to help simplify the process there are a number of things you can do before even getting started.
1. Consider This Before Searching For A New Home
What Home Features Do You Need and What You Want?
By creating a list or note of the features you need you will help narrow down a long list of potentials. Keep both the needs and wants on two seperate lists so you can be sure to get everything you need and then check off any potential wants you come across. For example, are you looking for a garage or a home with more then one bathroom? What about having a fenced backyard or an energy efficient home to lower the cost of your utility bills? Is being closer to work important, how about having a fireplace, multiple car garage or minimal yard work? Once your lists are finished decide which are important to you.
What’s The Perfect Location
With many neighborhoods to choose from Grande Prairie and surrounding communities provide you with a lot of choice. Choosing where you live though affects your lifestyle and can also be one of the most significant influences on your current property value. Choice of area can somewhat be limited to your overall budget but it’s important to take consideration of such things like distance to work, local schools, grocery stores, shopping, parks and entertainment.
What Style of Home Are Your Looking For?
We’ve all got different tastes and it shows in the different styles of homes we live in. Deciding on the type of property you want is another important thing to consider. A single-family detached home is a popular options for most because it typically provides ample living space and land. On the other hand choosing if you are looking for maintenance free living then a condominium may be for you. Figure out which lifestyle suits you best.
What Is Your Budget?
Knowing how much you want to spend is important, but knowing how much you can afford is even more important. New homeowners often get approved for larger loans then they can take on. It’s important to remember that when you purchase a new home there a numerous additional expenses that you’ll not only pay to complete the purchase of your new home, but also over the duration of owning. Property taxes, utilities, home maintenance etc. It’s important to keep this in mind when budgeting for your new home.
2. Choosing a REALTOR®
A Grande Prairie REALTOR® will help you answer any and all of the questions you have. Purchasing a home can be a complicated process . With the help of Team MacLean you’ll be able to reach them 24 hours a day, 7 days a week and feel confident when you set forth on searching for a new home.
3. Searching For A Grande Prairie Home
The funnest part begins when you set forth to find houses that interest you. A REALTOR® has access to powerful tools that will help find a list of properties that meet the needs and wants required for you to call it home. With access to MLS® you’ll be provided with numerous properties available for sale in specific areas, which you can then narrow down to find the best house that matches your needs and price range.
4. Viewing Properties
When you find a house and decide to view the property there are many things to keep in mind. First and foremost, are all the features you had originally requested present? Is the neighbourhood what you expect?
When looking around try to imagine what the home would look like with your personal items in it and be very dilligent with many of the homes technical conditions. For example:
- What type of wiring is done throughout the home?
- What type of heating system does the home have, how new is it?
- How is the homes foundation?
- Is the roof in good condition?
- Does the power in the home meet all your requirements?
- Are the windows in the home in good condition?
- How is the plumbing setup?
These are just a few of the more important things to consider but there are others. Through proper research you can learn more or you can opt for home inspection services. To save yourself some time it is always a good idea to have a qualified home inspector look at the house. The older the home, the more important it is for professional inspection. Team MacLean can refer you to their top recommended inspectors.
5. Making An Offer
So now that you’ve found a home you like it’s time to make an offer. With the help of your REALTOR® you’ll develop one. In the offer you will specify how much you’re willing to spend, suggest a closing date for the sale and any conditions you need and or like to see met with the purchase you can include those in the offer as well. Some common examples are:
- Finding a suitable mortgage.
- The sale of your current home.
- Making sure the seller provides a current survey to show there are no encroachments on the property.
- The seller having title to the property (your lawyer should will check this)
- An inspection by a qualified property inspector to clear any doubts about the home.
- Any inclusions or appliances, furniture, or other items. Basically what stays and goes.
6. If Your Offer Is Approved
If your offer is accepted and all conditions met, congratulations! The offer now becomes a binding agreement on both sides of the transaction. Should you end up refusing the agreement for reason`s other than condition`s not being met you may lose your initial deposit or potentially be sued for damages. It’s important that before signing you understand and agree to all the terms currently in place.
Before the property can formally change hands you’ll need to provide proof to your lender that you’ve insured your new home. When closing day arrives, both side’s lawyers will arrange the transfer title of property from seller to buyer and the mortgage money will be transferred into your lawyers trust account, then to the seller. Again a word of caution, be prepared to be able to pay additional expenses such as land transfer taxes and legal fees. Also double check with your lawyer that everything is as stated from your offer.
Once satisfied and the keys are in your hands, welcome home and let the moving process begin!