Have you noticed recent discussions about home buying seem to focus on how tough it is to become a first-time home buyer? Or how competitive the market is? Or how stressful the real estate process is in general? It's no wonder home buying stress is at an all-time high!
The process is often even more stressful for first-time home buyers learning to navigate the world of real estate.
Becoming a Home Buyer with Less Stress
If you're looking for ways to handle home buying stress, this is one post you can't miss! Although these tips are geared toward a first-time home buyer, they also serve as great reminders for those who have gone through the process before.
Get clear about your budget
When you're very clear about your budget before you begin your journey, it can save a lot of headaches along the way. It's also important to remember that your budget will need to include more than just the listing price of a house.
For example? There are several closing costs and legal fees to account for, and be sure you're ready to pay them.
That's why it's essential to consider what you can truly afford, rather than just what you're approved for.
So, even if you're approved for a $600,000 mortgage, for example, it doesn't mean you should buy a house for that much. You'll need to consider the monthly payments that come with it and ensure you'll still be able to furnish your home and cover other costs.
Take a look at this post next to learn more about the hidden costs every home buyer needs to know about.
Create a detailed plan
Isn't "buy a house" enough of a plan? Not exactly! The budgeting portion of the home buying process, including getting a mortgage pre-approval, can take a few weeks, to begin with. Then, you need to plan to view several homes, find a realtor you trust, pack up your current house, and more.
(Can you list six of the biggest mistakes new homebuyers make in Canada? Visit this post next to see them!)
Here's a list of some of the things to plan for when you're buying a house
This includes things like:
Working with a real estate agent you trust is a great way to ensure your plan includes all necessary details. And that brings us to our next point!
- Mortgage pre-approval
- Storage for your belongings
- Hiring movers
- Affording your down payment
- Planning for home inspections
- Relocating out of province or to a new city
- Listing your current home and preparing it for sale
Work with a real estate agent
Working with a real estate agent is one of the most effective tools at your disposal for managing home buyer stress. Experienced realtors have seen and done it all, and they can help guide you through the process with ease. This is only one reason it's best to work with a real estate agent rather than buying a home without any professional help.
(Visit this post next to find out if you really need to hire a real estate agent if you're buying a house from a friend)
As for finding a real estate agent, you can trust? We've made that easy for you! With Souqh, the complete home buying journey is right at your fingertips, anywhere, anytime. Our online storefronts help you find trusted service providers that match your unique needs, along with verified ratings and testimonials from home buyers just like you.
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Did you learn a lot about handling home buying stress in this post? Here are three more posts to read next: