8 Tips to Help your Home-buying Decision
The home buying market can sometimes be tricky to navigate. With the McKinley Beach community now under development, we’d like to share with you eight helpful tips to help you when you’re ready to purchase and build your new home:
- Know Your Score
Knowing your credit score can often make or break your decision to purchase a new home. Low credit scores can lead to high interest rates and more money down before being able to secure a mortgage. It’s fairly easy and inexpensive to find your credit score using Equifax or through your bank.
Learning the local housing market is important as it can tell you a lot about the how the value of your property could change over time. A good way to do this is to consult with a real estate agent as they tend to have their finger well and truly on the pulse of the markets in which they operate. Don’t be afraid to ask questions!
Location is key. Important questions need to be considered: Is it close to the amenities I need? And, if you’re considering building or developing, is there enough land to build on? If you’re looking at long-term ownership you’ll want to make sure that the location will be suitable for your needs now, and for those potential changing needs in ten years. Is walking to the beach as well as lake view important to you and your family?
- Your Architectural Style
This is where an architect and interior designer can be helpful. Many people don’t know their style until they see it while others look for something specific. Most regions in BC display various differing architectural styles, inside and out. It’s a good idea to establish your style set before you look at building your home. For example, at McKinley Beach, the architectural guidelines include West Coast Contemporary.
- Sizing Your Home and Construction Budget
Will your family be growing? Do you already have a big family and will they be visiting? Is it just going to be you and your pet Shih Tzu? Deciding on the size of property you’re looking at can affect a number of things including price point and location.
- Know Your Price Range
Working within your budget is important when investing in a home. Once you know how much you can spend you’ll be able to make better home-buying choices. Keep in mind the current housing market and economic status and always work within your budget.
- Consult Your Mortgage Specialist
The whole job of a mortgage specialist revolves around mortgages and how to get people into them but every specialist has different tricks and experience that can benefit you. For an experienced and smart mortgage specialist we recommend contacting Jeannie Russell at RBC at email@example.com.
- Enjoy your new home!
You’ve worked hard for it, you’ve found the perfect home, you’ve worked with the architect, you’ve built your dream home, and now it’s yours! Enjoy it! You’ve earned it.