The fall market is the second busiest time of year for real estate but that doesn’t mean you should shy away from pursuing your dream home simply because it’s a popular time of year. There are a few things that you can do ahead of and during your search to ensure that you are ready to move.

Here are 6 steps you can take to ensure you’re ready when the houses are:

1. Start Now

One of the biggest mistakes buyers make when shopping for their dream home is procrastinating the process. Seeing the fall is the second busiest time of year, there may be many buyers out looking for the same things as you. Start looking right away to familiarize yourself with the market and to help determine what you’re looking for. 

2. Mortgage Pre-Approval

Ottawa’s housing market is moving at a rapid pace and you want to ensure that you are ready to go once you are ready to start your search. Having a mortgage pre-approval will ensure that you are looking at homes in the right price range for your family and will help you make a more confident offer when the time comes. But remember, actual full approval for a mortgage can only be made once there is an accepted offer on a specific property so a mortgage pre-approval is not a guarantee.

3. Make Lists 

It’s important to know what you’re looking for when it comes to your new home and one of the most effective ways to do this is making lists of both needs and wants. Your needs are things that you absolutely cannot do without. So for example, the number of bedrooms based on your family size may be a need. On the other hand, wants are things that would certainly be a selling feature to you on a home. An example of a want would be a gas stove (you could definitely make do without one but you could also likely upgrade in the future at a reasonable price). Qualify your needs and wants and make sure to go over this list with your agent.

4. Start Saving Your Pennies

When it comes to buying a home, every dollar that you can add to your down payment can make a big difference so if you plan on buying soon, consider how you are spending your money and see what you can do to save. There are a few easy things that most people can do to cut their day to day spending:

• Make your morning coffee at home.
• Avoid eating out and either pack meals or eat at home.
• Plan your meals and grocery shop once a week.
• Plan things to do at home instead of going out.

Like anything else in life, being prepared saves a lot of stress and time. If you want to find your dream home efficiently and timely, be sure to follow all the steps listed above and you’ll be ready when the houses are. Contact us if you’d like to explore buying in the fall market.

 

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