Buying Residential Real Estate: How to Make It Easier for Newbies

Buying real estate for sale in Quebec can be extremely complicated, and that’s especially true for a first-time buyer. While it is exciting to transition from being an apartment renter into a homebuyer, the fact remains that it can be very expensive. It can also become an extremely frustrating process.

However, there are some simple and easy ways to make it just a bit easier for you even if you are new to buying a house to live in. Here are some easy ways to minimize the complication and the frustration.

  1. Make sure you can afford it. This is the first, and probably the most important, step you need to take before you actually buy a house. Are you sure you can afford to buy a house at this stage in your life? Just because the mortgage bank says that your monthly payments are roughly the same as your monthly apartment rent doesn’t really mean that it doesn’t change your financial picture.

That’s because as a homeowner you have additional expenses to cover that you didn’t worry about before as a renter. Aside from the utilities (electricity, water, heat, cable TV, and Internet), you also have to take care of home maintenance costs as well as home insurance. You’ll have to take care of your lawn. You may have to cover home association dues as well.

All these expenses add up, so you better make sure you have the savings and the earnings to cover everything. If there’s any sort of doubt, it may be better to wait.

  1. Get yourself a buyer’s agent. If you’re still fairly confident despite the various expenses you’ll have to cover, your next step is to hire a buyer’s agent. A buyer’s agent can help you find the kind of home you’re looking for, within the budget you specify. They can negotiate for you to get the lowest buying price possible. In addition, they’re extremely helpful in dealing with all the red tape and paperwork.
  2. Pick a house you can actually afford. This means that the mortgage payments are within your means, and you can also afford to buy the furnishings. It also means you have enough money for any renovations you need to make.

To get yourself more favorable montage terms, you better make sure you have an excellent credit score. To help entire this, you better make sure that for an entire year, you’re paying all your bills on time. This includes paying your credit card bills, and you should pay off more of what you owe rather than just paying the minimum each month.

  1. Pick a neighborhood with excellent schools. A highly regarded school district is always a good investment choice, because they’re so popular and in demand with families with children. So just because you don’t have kids yourself doesn’t mean that the quality of the schools is irrelevant. When it’s time for you to sell your home, you know that having excellent schools in the area will draw in lots of parents wanting to buy your house.

Besides, normally a school district with great schools usually means a better neighborhood with lower crime. Even if you don’t have kids, a safer place to live in is always a preferable option.

  1. Hire a contractor before you actually buy. Your contractor will know what you will need to repair and they’ll also give you an accurate estimate of how much those repairs will cost. You can use these estimates as part of your negotiation tactics to get the buying cost down.

Basically, you need to be sure you can afford a house—and that you can afford the experts you need by your side. With a buyer’s agent and a contractor, you can eliminate much of the confusion and complexity, and you can have a smoother process in buying your dream home.