See our 8-Step Process for Home-Buyers
Beginning your home search can feel like an overwhelming and nerve-wracking task. After all, a home is the largest – and most emotional – investment most people will face in their lifetime. So, how do you know if it’s the right time for you to buy?
There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances.
At Neufeld Jones Marshall Real Estate Team, we like to make it very easy for our potential buyers to understand the steps that we take with you in order to find your dream home!
We broke it down for you with these 8 steps:
When you’re looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, and your agent is your advocate to help you make your dream come true.
A great real estate agent will:
- Educate you about the current conditions of the market.
- Analyze what you want and what you need in your next home.
- Co-ordinate the work of other needed professionals throughout the process.
- Guide you to homes that fit your criteria and budget.
- Negotiate on your behalf to get you the best deal possible.
- Check and double-check paperwork and deadlines.
- Inform and discuss with you, and suggest solutions to solve any problems that may
To make the financing process as painless as possible, ask your agent to introduce you to either a mortgage professional or a lender to determine how much you can afford to borrow to purchase a home. This professional will work with you and your agent to make sure the financial aspect of your home purchase is stress free.
What will the consultant do for you?
- Review your current financials.
- Discuss the options available to you during the home purchasing process.
- Guide you to an appropriate price point.
- Negotiate on your behalf to get you the best deal – price, interest rates, loan approval.
- Keep you informed and updated of the entire financial process throughout your purchase.
Be prepared to dig into paperwork during this part of the process such as pay stubs, T4’s, and tax returns. This is a vital step in the home buying process!
So you’ve met with your trusted advisors, and now you’re ready to begin your search and begin to receive notifications about the listings that you’re most likely to be excited about. But how or where do you start? There are a lot of homes out there, and diving in without a guide can become overwhelming and confusing. Your Neufeld Jones Marshal Team real estate agent will help you more accurately pinpoint homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible.
Some questions you might ask yourself include:
- What amenities are crucial for you and your family?
- How much space do you need and why?
- Which is more critical: location or size?
- Would you be interested in a fixer-upper?
- How important is home value appreciation?
- Is neighbourhood stability a priority?
- Is accessibility to main routes a priority?
- What features are not negotiable in your new property?
You’ll learn as you look at homes, your priorities will probably adjust along the way. Be sure to let us know if one (or more) jumps out at you so that we can jump to the next step and schedule a viewing.
Here’s where the buying process gets really fun. We’ll go to local open houses and schedule viewings of the homes that you’ve loved from our listing alerts. We’ll talk how the budget will work and make sure that we find you the perfect home.
Once you’ve found a home you love, the next step is deciding on a price. It’s important to remember that a home is an investment. Your agent can give you information on other properties in the neighbourhood to help you ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process.
Some things to consider when deciding on the best price point are:
- List price – Start with the price point that the home is listed at. This will give you a base when looking at the home’s value.
- Market Analysis – Your agent will give you an idea of comparable home values in the neighbourhood to help you decide if the price point is on par.
- Improvements – Your agent can give you a list of improvements made to the home and help you determine its market value.
So, you decide on a price and are ready to write an offer! A little scary, but very exciting! Three things can happen when putting in an offer on a house: the offer is accepted, it’s rejected, or you get a counteroffer. We’ll walk you through each of those possibilities and how to handle them. When the offer is accepted, it’s time to get your financing in order and move forward to the next step!
The sellers accepted your offer, and the home is going through appraisal and inspection. These are the last steps before you get the keys to your home! The home appraisal guarantees that the price of the home matches the condition of the home. While the home inspection makes sure that everything in the home is functioning properly and there are no major issues inside.
It’s time to dot the I’s and cross the T’s because you’re closing on your home! But, in order to ensure that you don’t put the property purchase at risk, you have a couple responsibilities that you’ll need to keep in mind:
- Staying in control of your credit and finances – Do not make any large purchases during this time. It’s important to keep your financials steady throughout the buying process. Talk to your financial consultant for guidance.
- Keeping in touch with your agent and financial consultant – It’s important to stay in constant communication with your Neufeld Jones Marshall agent and mortgage professional during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don’t be afraid to ask questions.
Remember to bring all of the paperwork you’ve collected along the way, and your down payment.
Grab a bottle of champagne and toast to your new home! Congratulations, you’re a homeowner! The home-buying process is complete, which means it’s time for your maintenance plan! It’s now your responsibility, and in your best financial interest, to protect your investment for years to come. Performing routine maintenance on your home’s systems is always more affordable than having to fix big problems later. Be sure to watch for signs of leaks, damage and wear.
And remember, just because the sale is complete, your relationship with your Neufeld Jones Marshall real estate agent doesn’t need to end! After you buy, your agent can still help you – providing information on the real estate market, finding contractors and repair services, and even tracking your home’s current value.
Are you ready to take the first step? Let’s talk!