You might think it would be easy to find your dream home – but when it’s actually time to get started, you’ll realize it’s not as simple as you expected. Initially, it can be fun to look through all those Calgary listings, tour open houses, and so on, but after hours and hours of it, searching becomes a major chore. Find your dream home is kind of like looking for your perfect partner, it can take a while, but when you do, you’ll know it was worth the effort and time it took.
These tips can help finding that “perfect” home much easier as a little bit of planning can go a long way.
Get Pre-Approved
Fewer and fewer people are able to buy their homes with cash these days, as the National Association of Realtors reported, from 2011 to 2013, nearly a third were purchased with cash, but in 2017, only around a fifth of home sales were cash sales. That means, odds are, you’re going to need a mortgage loan to buy that dream home when you find it. If you get pre-approved, you’ll have a much easier time. It helps you learn how much you’ll be able to afford helping you to narrow down your property search criteria, and it provides a competitive advantage in a seller’s market by making your offer more credible. You’ll get a pre-approval letter from the bank or mortgage loan company detailing the maximum amount you’re approved for.
Create a List of Must-Haves
Now that you know what you can afford, it’s time to make a list of must-haves, based on that amount. Of course, if you’re approved for a $200,000 mortgage loan, you’re probably not going to be buying a home with a fancy swimming pool, chef’s kitchen or other high-end features. Of course, if you can afford that multi-million-dollar mansion, feel free to go all out. Otherwise, think about things like whether you want it to have a yard, the minimum number of bedrooms, and whether it must be a single-story or if a two-story is fine, for example. The more specific you can be the better. The list should be made up of non-negotiable features, that way if a place comes up that doesn’t have everything on it, you can avoid wasting time by moving on to the next.
Look Past Minor Flaws
While you’ll want to skip houses that don’t have all your non-negotiable features, as well as those with major issues like structural problems, old plumbing and electrical wiring, you may need to look past some minor flaws. Unless you’re very lucky, the homes you look at probably won’t have everything you’re hoping for, and some may have a few things you don’t like at all, but that doesn’t mean it doesn’t have the potential to be your dream home. The key is to look past those cosmetic blemishes, like a bedroom painted in a hideous shade of pink, outdated kitchen cabinets or linoleum floors. Those kinds of things can typically be upgraded to your style without having to shell out a ton of cash.
The more important thing is to find a well-built home with the space you need and a layout that works for your lifestyle, as well as a price point that provides wiggle room for some changes.