10 Thoughts On Every Buyer's Mind

1) Is now the right time for me to buy a home?

• There is no one that takes the decision to buy a home lightly 
• Buyers pore over everything
• From the time of year that plan to buy, to whether or not buying is more cost efficient than renting for their lifestyle

• Once that number one home buyer question is answered with a "yes, it is time to buy!", buyers immediately begin to consider how much home they can afford to purchase
• Of course, this is a logical "next step"
• This information is need-to-know before buyers can begin to seriously browse homes

• A buyer may think they have an idea of what they can afford based on their income and expenses
• It is still wise to seek out lenders for confirmation on what they will be allowed to borrow
• Bank pre-approval not only gives buyers that kind of confirmation, but it also let's sellers know that buyers are serious when they come browsing through a home 

• Though a buyer secures mortgage pre-approval, that doesn't mean they're secured a loan
• Lenders require buyers to submit information, like bank statements, pay stubs, and credit history before they make a deal on a home mortgage
• Each lender may have similar requirements, but it's necessary to speak directly with a chosen lender to follow their particular mortgage approval process

• Conventional mortgages used to require home buyers to put down at least 20% of a home's price
• Today, lenders offer buyers many different conventional loan options that may allow a buyer to put down as little as 3% of a home's price
• Each lender is different, so buyers should shop around to find the mortgage that best suits their needs 

• It may seem like a petty thought
• To a buyer who already is envisioning all of the packing, cleaning, moving, and unpacking, painting is one of the last things they want to think about 
• So, it is sometimes best for sellers to put their personal artistic preferences aside when it's time to show their homes
• Neutral colours just tend to be more appealing to buyers 

• When a buyer falls in love with a home, they may fall in love with certain aspects of the home's decor
• Typically, items like blinds and window treatment hardware are included in a home sale
• However, curtains and other furniture are not 
• But, seller's beware; some buyers may love non-included items so much that they could negotiate for them to be included in the home sale 

• When it comes to making an offer and negotiating on a reasonable price, buyers can turn to their realtor for help
• Agents are happy to complete a comparative market analysis to make sure a buyer's offer reflects a home's worth
• Additionally, an agent will do all the talking when it comes to submitting an offer and negotiating on any part of the deal

• Buyer's often get caught up in the excitement of buying a home and want to hurry along the closing process as much and want to hurry along the closing process as much as possible  
• But skipping a home inspection is not a good way to get into a new home any sooner 
• In fact, not completing a home inspection before buying a home actually could cost a buyer in the long run
• If an inspector uncovers previously unknown issues with a home during the inspection, a buyer has the opportunity to have them addressed or walk away from the sale

• There are several fees that are paid at closing 
• Though they can be paid by either the buyer, seller, or split between both parties
•  Closing costs typically include the inspection and appraisal fees, title and lawyer fees, any home warranties or private mortgage insurance, home insurance, taxes, possible condo fees, and various other costs