Here are the four steps that London, Ontario buyers must follow.
Here are the simple steps to buying a home here in London, Ontario:
1. Clarify what you want. What do you like about your current home? Is it the backyard, kitchen, or the neighborhood it’s situated in?
2. Clarify what you don’t like. Perhaps you live in a particularly noisy area, or you need of more bedrooms or office space. The cons of your current home should be shaping your search just as much as—if not more than—the pros.
“In a tough seller’s market like this one, the most accommodating buyers win the day.”
3. Make sure you can afford your new home. I know we’ve spoken about the importance of pre-approvals, but it’s a point that can’t be overstated. Do the rates and terms translate to a monthly payment that you can afford? Take any applicable taxes, condo fees, and new home maintenance equipment into your budget considerations.
4. Know your time frame. Sometimes, a seller may have a closing date of 90 days; other times, they may have a closing date of one week. If you need to move in immediately or give your current residence a 60-day notice, you could find yourself on either end of two losing extremes. Try to be as flexible as possible. Be ready to move quickly or wait a bit longer, depending on what the seller’s needs are. In a tough seller’s market like this one, the most accommodating buyers win the day.
If you have further questions about buying the right home in our local market or any other real estate topic, feel free to give me a call or send an email. I’d love to have a more in-depth conversation with you to identify your top priorities and help devise a stellar home-buying strategy.
