First Steps for Calgary Homebuyers
If you are a serious homebuyer, there are several things you need to do before you start to scan listings or attend open houses. First-time buyers and seasoned investors alike need to attend to these critical initial steps to ensure a smooth journey to home ownership.
Choose a Realtor – This important first step is likely to have tremendous impact on the flow of your home buying experience from the beginning to the end. Even if you feel you are a fairly knowledgeable real estate player, you will need proper representation from an experienced pro with in-depth knowledge of the local market. Choosing an experienced Realtor who you will be comfortable working with should be your first step in buying a home.
Get Pre-Qualified – I cannot stress enough the importance of getting pre-qualified for mortgage loan financing in Calgary’s competitive real estate market. Unless you are flush with cash, never go house hunting without your pre-qualification letter. Even in a buyer’s market, some homes in the right neighbourhood at the right price point elicit multiple bids. Not having that letter from a reputable lender will cause sellers unnecessary concern and may even cause them to disregard an otherwise competitive bid. Do yourself a favor and get pre-qualified before you even launch your home search. We can point you in the direction of a local mortgage loan professional with knowledge of the many loan types and products available to Calgary homebuyers.
Set a Budget – Once you know how much money you can borrow, it is time to fix a budget number for your big purchase, or at least establish a range. Remember that you do no not have to “max out” when it comes to your mortgage loan, nor do you have to deplete all of your resources to fund your down payment. Pick a number that you are comfortable with and that will permit you to avoid being “house poor” once you find that dream home.
Research Neighbourhoods and Housing Options with Your Realtor – When you have a Realtor you like and trust, a loan pre-qualification letter from a lender and a realistic budget number to work with, you and your Realtor can start the often challenging, but exciting task of pinpointing the type of home and neighbourhood that best suits your needs and wants. This is the time to share your wish list as to lifestyle, number of bedrooms, baths and amenities. Communication is the key to a good working relationship with your Realtor. Don’t be afraid to share your home owning dreams in detail. The more information we have, the better equipped we are to serve you.
Happy house hunting!
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, kelmacdonald@gmail.com or www.kellymacdonald.ca and let's make good things happen!
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, kelmacdonald@gmail.com or www.kellymacdonald.ca and let's make good things happen!
About Kelly Macdonald
Kelly Macdonald is a Realtor® with The Real Estate Company in Calgary, where she has been living (and loving it!) since she was 10. Kelly offers her clients a unique mix of youthful vigor, creativity and technical and design savvy on one hand, and professionalism and transactional expertise from her business degree and strong administrative background on the other. Kelly is also a devoted wife and mother of two, with whom she finds time from her busy schedule to play scrabble and walk by the beautiful lake of their home in Southeast Calgary.
THIS ENTRY WAS POSTED ON October 9th, 2016 BY Kelly L. Macdonald | POSTED IN General
