Friday, November 23rd, 2018
Buying a new home is simultaneously one of the most exciting and one of the most stressful times in life. I recently went through the complicated process of going from browsing real estate listings to putting an offer in on a house, and I learned some really important things along the way.
Here's some of what you'll want to learn from your home inspection:
Does the gorgeous home you're looking at seem like a bit of a unicorn with its bargain price tag, much lower than other comparable listings in the neighbourhood? Even if the home inspection report looks OK, and the house seems nice on a visit, there are some external considerations to keep in mind.
The offer process doesn't work like an auction. You can't see what other people have offered, and you only get one chance, so you have to go in with a price that you'd be comfortable with, without knowing whether that price gets you the house.
I thought I had a fairly good handle on how to be smart about buying a home, but I learned so much about what to watch for in the process - many things I wouldn't have thought of on my own - and how to accurately calculate the affordability of a new home beyond its list price.
The best way to cover all your bases is to ask your real estate agent to walk you through the process step-by-step, and inquire about everything I've listed here to make sure you're not missing anything. A good agent will be happy to do this and will be honest and thorough in their explanations.
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