Buying your first home is an exciting thing, but it’s also scary and can be really confusing. Check out this ultimate guide to buying Port Coquitlam real estate, and learn why having an experienced realtor in your corner can make all the difference.
Finding a Real Estate Agent
One of the first things you want to do when looking for a new home, is to find an outstanding real estate agent. An agent can be your best ally and your best weapon in your quest to find a new home. They can help to explain the complexities of the process, can guide you through searching, and can provide important information about the neighbourhoods you’re searching.
Check for experienced agents with many closings behind them, who have referrals from satisfied clients, and above all, who have a legacy of selling in your chosen neighbourhoods. This can’t be stressed enough — experience is key when finding the best realtor to help with your process. Check online, talk to friends and neighbours, and don’t be afraid to interview agents.
Getting Pre-Approved for a Mortgage
Getting pre-approval greatly smooths out the purchase process. It lets you know how much you can afford to buy, and will make the process of closing easier. It’s essentially a letter from a lender that says you are ready to buy and they’re ready to loan you a given amount of money.
The process is pretty simple, and you can even go through it with multiple lenders to compare rates. Be sure to look at things like closing costs, interest rates, hidden fees and other costs.
Finding the Home
Many real estate agents will tell you that finding the right house will take patience and time. Don’t leave the searching to your agent; search on your own as well. This will help your agent to get a better feel for your personality and the kinds of homes that interest you. There’s tons of resources online to help!
Making an Offer
These days, making an offer is the most frustrating part. You may find yourself in bidding wars with other buyers, and it can be tempting to go over your limit. If the price gets too high, let the home go. The last thing you want is to be underwater on your mortgage. Know what you want to pay and the maximum you’re willing to pay and stick to it. Again, your agent can help determine a reasonable range.
The Buying Process
Once you’ve negotiated the basic offer, you’ll enter a whirlwind process of home inspections, negotiations for repairs and additions in line with the inspector’s recommendations, home appraisals and loan approvals. Once again, your agent may have people they’ve worked with in the past, and they can guide you every step of the way. Your final purchase price can change throughout this process depending on the results of your appraisal and inspection, and other factors.
Closing Your Port Coquitlam Real Estate Deal
Closing the home is perhaps the easiest part. You sign a bunch of papers, shake hands, and the deal is done! If you’re looking to buy your first Port Coquitlam Real Estate, I’m ready to help you out every step of the way from pre-approvals through to closing. I’ve got years of experience in the region, and I know the properties and people. Give me a call to get started today!