Knowledge and confidence will be your greatest assets as you begin the home-buying process. Armed with those two tools, you’ll be likely to end up purchasing a place that you’ll be happy to call “home.”
While your Edmonton REALTOR® will certainly be there to guide you through the process, only you can determine exactly what you want. You may want to start out by considering these key ideas:
- How much you can afford
- How to find the loan that’s best for you
- How much of a down payment you will need
- Whether you should buy a new home or a resale
- Whether you should work with an agent
These questions will help get you started, but they’re just that: a start. As you consider the largest purchase of your life, you’ll need to do your research so you can make well-informed decisions.
Whether or not you choose to enlist the help of an Edmonton REALTOR®, you need to keep these 2 principles in mind regarding the home-buying process:
1. You can and should understand everything involved.
Nothing about the home-buying process is too complicated for you to comprehend. The fact that you’re new to the process doesn’t mean that you’re stuck with the first loan for which you’re approved. You can and should take the time to fully realize exactly what you’re doing, and you may learn a few new terms.
If anything, at any point in the process seems unclear, you need to ask for more information. If you’re still confused, you can ask your banker or accountant or a family friend who’s in the know or look for real estate gurus online. Whoever you ask, make sure that you do ask and keep on asking until you’re confident.
2. You are the most important person in the process.
The person whose opinion is most significant is not your real estate agent, not your lender, not the seller: It’s you. Without you, the buyer, the sale will not happen; you have the power to speed up the process or back off and slow it down.
You can take ownership and direct the process, the way you want it to go. Sure, you’ll want the full benefits of professionals at your disposal, but consider them your team, and let them know how you want them to help you.
Armed with both intelligence and confidence, you can understand each aspect of the home-buying process and take charge of it; if you do, you’ll set yourself up for success and making choices that are right for the most important person: you.