Don’t miss out on your dream home, or waste your valuable time, because you weren’t 100% prepared. Even if your home purchase is a year away, don’t be afraid to jump start the process now. We’ve compiled a few house hunting tips to hopefully help streamline your house hunting journey.
Here are handy house Hunting Tips for Beginners
1) Get pre-approved for a mortgage
Falling in love with a house you can’t afford is entirely disheartening.
Start your house hunting by being pre-approved for a mortgage. Mortgage brokers are an extremely helpful way to make sure you know what a bank is willing to loan you, and it shows sellers that you are ready to commit. Remember, just because a lender approves you for a certain amount doesn’t mean you should spend that much on your house.
With the exceptionally low interest rates we are experiencing at the moment, there has never been a better time to talk to the banks and see what they can do for you.
2) Know where you want to live
Your location determines which school your children attend, the length of your drive to work, distance to a supermarket for last minute essentials, and possibly where you’ll socialize — in other words, where and how you’ll live your life.
Think about the neighbourhood and lifestyle you want. Do you want to be surrounded by nature or live near bars and restaurants? Are there bike lanes? Is there sufficient street lighting? Are you wanting to be within a gated community? Are there enough parks close by? Is it in a school zone?
Few neighbourhoods will have everything, but the earlier you start weighing pros and cons, the more time you’ll have to decide what is most important to you about your home’s location.
3) Assess the must-haves of your dream home
Just as important as the type of neighbourhood you’re in, is knowing what comforts you want and need within your home.
If you’re a list person, you’ll love our next advice. If not, we recommend it anyway! Make a list of features that are absolute must-haves, like the number of bedrooms and bathrooms, yard size, age, and general condition.
Then separate your Want from your Need category. Do you want a media room or are you willing to compromise with an extra bedroom that will work instead?
4) Remember your checklist during the home search
More than likely, you’re going to discover your dream home online before ever stepping foot inside. So much information is available online these days, you will know which properties you want on your watchlist quite quickly.
So how can you make the most of your online search? Review your checklist to see if a home meets your criteria. If not, move on. The market is inundated with homes at the moment so don’t feel bad if you’re being strict with your needs.
If a home does meet the criteria, review the location and check in with your partner. When you’re finally ready to tour houses, you’ll have whittled down the options, which will save time and make the decision process much easier.
5) Canvas the area
If you see a large number of homes for sale in one area, there could be a reason, like a new construction project nearby that might block views or cause traffic congestion. You could stop and talk to some residents to get the inside scoop.
6) Visit open homes, for the win
You need to get a good sense of the homes dynamics. Spending time at an open home allows you to assess the flow of the home’s layout, open doors, check out the garage and storage spaces, listen for creaks, and stand in the yard, soaking in the sights and sounds (good or bad) of the neighbourhood.
Other potential buyers could also ask questions that elicit important information from the owner or real estate agent. At the same time, you’ll get an idea of how much interest a house is receiving and how eager people are to buy.
7) Explore pre-market home listings
Finding a pre-market home could mean less buyer competition. There are many avenues to explore in this regard, like asking friends, family, or colleagues if they know of anyone who plans to list a house soon. With the reach of social media, you can post your request on a community facebook page and have a high rate of potential success in finding a good local real estate agent.
Knowing a home is almost ready to be listed, means you can have more negotiating power. If a seller can save money on not paying an agent a commission, they’re most likely to agree to a lower selling price.
Your Najib agent will typically carry our a pre-marketing campaign, so please be sure to subscribe to our current buyers list if you want to be kept in the loop!
Although there’s a lot to consider before buying a home, starting early can be a game-changer. Being organised in your approach and compiling all the information you need to make an informed decision is the best strategy possible.
Najib Real Estate | Christchurch/Selwyn Real Estate Properties
116 Peterborough Street
Christchurch Central 8013
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