Buying

The design of the home, how it functions and how it complements your lifestyle should be a major decision-making factor when buying a property. This way, you will end up in home that will accommodate your needs now and for many years to come that can also save you money.

Too often, people fall in love with the ‘look’ of a home without considering how it will function. If you are aware of the impact that design features have within a home, you will be able to choose a home that is easy to maintain, efficient to run and will suit you lifestyle as your needs inevitably change.

1. Don’t Get “Pre-Qualified”

Do you want to get the best house you can buy for the least money?  Then make sure you are in the strongest negotiating position possible.  Price is only one bargaining chip in the negotiations, and not necessarily the most important one.  The way to make a strong offer today is to get “Pre Approved”.  This happens AFTER all information has been checked and verified.  You are actually APPROVED for the loan and the only loose end is the appraisal on the property.  It’s VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal.

2. Sell First, Then Buy

 If you have a house to sell, sell it before selecting a home to buy!  If you have your eye on another home, pressure is placed on you to sell your existing home sooner rather than later.  In the end you will lose money because you accepted the wrong offer and did not wait.  Another tactic is to make the Contract “Subject to the seller finding suitable housing”.

4 POWERFUL BUYING STRATEGIES

3.  Play the Game of Nines

 Before house hunting, make a list of the nine things that you want in the new place.  Then make a list of the nine things you do not want in your new home.  Use this list as a scoreboard to rate each property that you see, the property with the highest score wins!

4. Don’t be Pushed into ANY House

 Your agent should show you everything available that meets your requirements.  Don’t make a decision on a house until you feel that you have seen enough to pick the best one.  Check into the school districts of the area you are considering.  Information is available on every school such as; size of class, % of students that go to college, OP scores, etc.  It is also worth driving around the area to make sure that everything you need access to is conveniently located and that there are a variety of facilities close by.

I’ve just heard that some brokers are turning back first home buyers due to the changing goal posts within the banking system. First home buyers are just to hard for some.

This is not surprising. Currently I have a first home buyer who has extended their finance four times. We are now at just over 30 days, when they were told by the banks that they were preapproved.  When they applied the goal posts were changed.  Frustrating.

Brokers turning back first home buyers

If you are a first home buyer my recommendation is for you to go straight to the bank.  Brokers have no loyalty to banks and hence, banks are not making life easy for their clients.

…ask Madeleine for more information bycommenting on this post.  Cheers