I thought it might be interesting to pull together a short list of some of the things you should and should NOT do in the real estate world in an effort to offer up some insight for your next purchase or sale.
In no particular order, here they are:
Do – Get Your Money Situation in Order
Before you start to buy into the housing market, it is extremely important to have your personal finances in order. This means that you should have a handle on what your current income is, what your ongoing expenses are and what your outstanding loans are. A good way to do this is to track your income/expenses for two or three months to see where everything ends up.
Do NOT – Forget to Define Your Real Estate Goals
Sure, it may be easy to say you want a bigger home or even that you’re ready for your first home, but before you start looking at properties you need to think about the bigger picture. Once you have figured out what your actual real estate goals are, you’ll have a better focus on what will or will not get you there.
Do – Some Homework on Related Topics
When you get a chance, spend some time researching how the real estate process works. Even if you end up sacrificing weekends or evenings, the more knowledge you have, the better prepared you will be when the time comes to make important decisions.
Do NOT – Rush into Anything
It’s easy to say but sometimes harder to do. For example, if you come across a deal that promises great returns and you wonder if it sounds a bit on the “too good to be true” end of the scale, then it probably is. Jumping at the first good deal is not always a wise decision.
Do – Examine the Place You Intend To Invest
What do you know about your potential future community and neighbourhood? You really need to put some time into researching it to make sure it fits with you (and your family, if there is one). Climate, school locations, amenities, attractions, property taxes, etc. should all be part of this research.
Do NOT – Buy Something Sight Unseen
Sure, I’ll even admit that the internet makes it so much easier to view property from afar. However, nothing comes close to setting foot in the actual house and yard. When you buy something without even visiting it, you are setting yourself up for many problems.
Do – Give Me A Call for Additional Advice
Navigating the real estate maze can be intimidating for most of us. If you are new to the Niagara Region, I can help you learn more about the area and help put some of those anxieties to rest. I can give you a lot of local information to help you out.
I’m Jen Bedard and you can call me today at 289-213-7031.